Systematic rating agency bullsh.t resumes:Italy cut to A from A+

A

ASusilovic

Italy’s credit rating was cut by Standard & Poor’s on concern that weakening economic growth and a “fragile” government mean the nation won’t be able to reduce the euro-region’s second-largest debt burden.

The rating was lowered to A from A+, with a negative outlook, S&P said in a statement. S&P said Italy’s net general government debt is the highest among A-rated sovereigns, and the company now expects it to peak later and at a higher level than it previously anticipated.

The decision sent the euro sliding for a third day against the dollar as investor concern rose that European policy makers will fail to contain the debt crisis. Greece’s government plans another call with its main creditors today as it seeks to stave off default, while U.S. Treasury Timothy F. Geithner urged the region to adopt additional tools.

“It’s a reminder that we’ve had the market in control but policy makers have been slow to think in any forward-looking context,” said Adrian Foster, head of financial-market research for Asia at Rabobank Groep NV in Hong Kong. “Policy makers across the euro zone have been well and truly asleep at the wheel for quite a while now and are only taking measures when the market pushes them to it.”

http://www.bloomberg.com/news/2011-...el-to-a-by-s-p-as-government-debt-mounts.html

How long must we tolerate this rating agency bullsh.t? These brain acrobatics are the MAIN REASON for any sort of market turmoil. About time to send some of them simply to jail.

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do you realize how many millions of people are still sure that rating agencies are genius experts?
they are happy to pay tons of money for such ratings and analysis.

same with mutual funds.
investors in excess of $10 trillion think they are making a good deal investing in long only funds for 10-20 years.
 
Why so angry??

Market turmoil is good.
Market turmoil helps exchanges make money,
the brokers make money and most importantly
it helps me make money by providing plentiful
trading opportunities.

I like the ratings agenies, politicians, dictators and
crazy people in the world. They are all doing
a sterling job.

:)
 
While I wish this infamous cast of characters squeeze names did a better job for the residents of planet earth the fact is he is correct about the result. These slime balls increase volatility and in effect manufacture additional profitable trade opportunities.

These clowns are money in the bank.


Quote from squeeze:

I like the ratings agenies, politicians, dictators and
crazy people in the world. They are all doing
a sterling job.
More...
 
well italy and all the others are simply bancrupt. So they need a C Rating, nothing else.
agencys are tooo slow

which country can ever pay back some of the money? (without inflation)???????????????????????

No, the agencies are right, but too slow
 
Quote from atticus:

You all bitched and moaned When S&P rated the MBS at AAA, but now you're whining when they're doing their job?
More...

You have to remember that the participants on ET move in mysterious ways...
 
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