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An Antidote to Corporate Media
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HousingWatcher
2011 Aug 9, 11:59am
Incidentally, that big buiding right by the sign is Goldman Sachs' HQ in Jersey City. Talk about irony.
FortWayne
2011 Aug 9, 1:59pm
S&P did their job, it stings ... but that life !
They finally cut the rating prior to problems, not post problems which is exactly what they are supposed to do.
I like this debate. The government that relies on these ratings only pipes up that the ratings are inaccurate when it no longer serves the interests of the goverment.
It makes one wonder, is anything the government says is real actually real or only just their favored version of real?
MisdemeanorRebel
2011 Aug 10, 5:04am
A ratings agency that doled out thousands of AAA Ratings to toxic securities packed with NINJA and other subprime loans that ended up so worthless the Fed had to take them off the market to prevent a collapse.
That S&P thinks it still deserves to be taken seriously about any rating it issues, is the greatest joke of all.
Airplane towing sign that reads:
"Thanks for the downgrade you should all be fired".