S&P tells Obama to vote for Republican budget bill
It might be worth remembering that S&P (along with others) assigned triple-A credit ratings to the mortgage backed securities and associated derivatives that tanked, causing the crash in 2008. So, why does anyone believe them now?
Of course, the very serious, inside the beltway pundits will undoubtedly swoon over this news.
posted by walldon | 3:15 PM
1 Comments:
And rates promptly fell -- i.e., traders were even more sure of purchasing U.S. bonds, so they were willing to take lower rates. So much for what traders think of the opinions of S&P -- which did, after all, give AAA ratings to securities backed by sub-prime mortgages.
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