I don't know that they have all that much power at the moment. Since the downgrade, the purchasing of US treasury certificates have INCREASED. It was supposed to be the other way around.
S&P gave Lehman Brothers a AAA rating ONE WEEK before it collapsed, thus precipitating the global meltdown.
By the way, Standards and Poor's were two different companies at one time. They merged in 1941. So when the headlines scream that S&P downgraded the USA for the first time in the country's history, that doesn't mean since 1776.
In order to keep the hucksters, humbugs, scoundrels, psychos, morons, and last but not least, artificial intelligentsia at bay, I have decided to turn on comment moderation. On the plus side, I've gotten rid of the word verification.
I so agree... and who the heck is/was Mr Standers or Mr Poor... why do they have the power ?
ReplyDeletecheers, parsnp
I think they were a vaudeville team.
ReplyDeleteI don't know that they have all that much power at the moment. Since the downgrade, the purchasing of US treasury certificates have INCREASED. It was supposed to be the other way around.
S&P gave Lehman Brothers a AAA rating ONE WEEK before it collapsed, thus precipitating the global meltdown.
By the way, Standards and Poor's were two different companies at one time. They merged in 1941. So when the headlines scream that S&P downgraded the USA for the first time in the country's history, that doesn't mean since 1776.
ReplyDelete"Dung & Bradstreet" has always made me look askance at their expertise, for the same reason.
ReplyDeleteLes, if you're going to walk down that street, make sure you tiptoe.
ReplyDeleteYes ~ good advice. Maybe Wellingtons instead of my good leather cowgirl boots.
ReplyDelete