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What happens if you run a ratings agency and you strip the USA of it's AAA rating?

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    What happens if you run a ratings agency and you strip the USA of it's AAA rating?

    S&P president Deven Sharma steps down just weeks after credit rating agency stripped US of AAA credit rating - Telegraph

    McGraw-Hill, the parent of S&P, said in a statement late last night that he will be replaced by Douglas Peterson, now the chief operating officer of Citibank, Citigroup's chief banking arm.



    It's a farce!

    #2
    It's all a farce. Rich people don't get to stay rich by accident.

    Comment


      #3
      Originally posted by TimberWolf View Post
      It's all a farce. Rich people don't get to stay rich by accident.
      Come the revolution, eh Brother?

      I wonder who that is breaking the door do...

      Comment


        #4
        Gold going up so fast it will breach infinity any day now.

        Comment


          #5
          Someone apparently bet like $800 mln on rating cut and made $10 bln.

          Comment


            #6
            Originally posted by AtW View Post
            Someone apparently bet like $800 mln on rating cut and made $10 bln.
            Who would do such a thing? I know I wouldn't.

            Comment


              #7
              Originally posted by DimPrawn View Post
              Who would do such a thing? I know I wouldn't.
              Who would without solid inside info on exact timing of event that never happened before...

              Comment


                #8
                They've also launched an investigation into S&Ps evaluations leading up to the credit crisis.

                Apparently, its important to look at this stuff now. For some reason.

                Assuming S&P's grading is fair (and presumably well, well, overdue), then the outrageous political reaction is surely reason enough to downgrade the USA further.

                Comment


                  #9
                  The funny thing is, this news will unsettle "investors" who will sell, sell, sell and buy into the "safe haven" of US government debt (bonds).

                  Comment

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