Scatablog

The Aeration Zone: A liberal breath of fresh air

Contributors (otherwise known as "The Aerheads"):

Walldon in New Jersey ---- Marketingace in Pennsylvania ---- Simoneyezd in Ontario
ChiTom in Illinois -- KISSweb in Illinois -- HoundDog in Kansas City -- The Binger in Ohio

About us:

e-mail us at: Scatablog@Yahoo.com

Monday, April 18, 2011

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.

1 Comments:

Blogger KISSWeb said...

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.

1:10 AM  

Post a Comment

Links to this post:

Create a Link

<< Home