S&P Explains Why The "$2 Trillion Error" Is Irrelevant

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Sun, 08/07/2011 - 11:18 | 1532519 azengrcat
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Officer S&P: I clocked you going 98 MPH in a 55 MPH Zone

Krugman: I was going 96 MPH you nitwit!  You're a racist and should be disbarred from duty, this is a right wing cabal!

Sun, 08/07/2011 - 11:24 | 1532543 WestVillageIdiot
WestVillageIdiot's picture

And then he blew the officer for good measure. 

Sun, 08/07/2011 - 11:42 | 1532627 Van Halen
Van Halen's picture

While gurgling that it was all the TEA Party's fault.

Sun, 08/07/2011 - 12:55 | 1532911 Michael
Michael's picture

The mainstream media reporter cunts and cocksuckers, mostly liberals, have gone full bore tilt against the Tea Party and S&P.

When they have their temper tantrums in support of their POTUS and things they want like their artificial recovery they willed to work, picking obvious childish arguments becomes an everyday occurrence showing their true colors. ie; MSM cunts and cocksuckers. 

Sun, 08/07/2011 - 14:04 | 1533219 macholatte
macholatte's picture

......and where is the MSM outcry for the politicians to get their asses back to Washington and FIX this mess?

*3% tax surcharege on income over $1M

*Nuke Afganistan and bring the troops home

*Freeze all federal wages and entitlements for 5 years (no bonuses, no COLA, no increases of any kind)

* cut federal retirement (excluding active duty military) back to 60% of average wages for previous 10 years worked

* etc, etc, etc

 

WTF is wrong with that?

 

 

Sun, 08/07/2011 - 12:02 | 1532704 slaughterer
slaughterer's picture

The White House, the administration and the Treasury have proven to be really lame in their response to S&P.    Not to mention Europe, whose CC today seems to have only resulted in nothing.  What do you do with a world mismanaged by its leaders?  

Sun, 08/07/2011 - 12:03 | 1532709 EhKnowKneeMass
EhKnowKneeMass's picture

So, if you had visited the den of a liberal, such as Mr. Krugman, www.cnn.com, there was a poll posted there. The question was, Do you agree with the decision to downgrade the credit rating of the United States? Can anybody guess how many people have voted thus far, as of 11:50 EST? Do note that the poll has been open for more than 12 hours. The answer is, effing, 1963. Let me bold that for you: 1963. Now, guess what the number would have been, had the question been: Do you like Justin Weiner's latest hairstyle? The number of respondents would have been in hundreds of thousands.

This game cannot be won. The people are asleep and there is nothing you can do about it. Shut down your website, ZH, go make love to a beautiful women or better yet make love to hundreds of 'em, eat a lovely steak, drink a nice wine, smoke a nice cigar and just veg. You will be called a fear monger, a doomer, one who does not believe in humanity and the american way of life - we always bounce back. You are wasting your time, just shut it down and enjoy your life. Now, if you are enjoying the warmth of women while doing all this, then, by all means, please continue. I keep my sanity by visiting this place, so before you leave please give me a couple of days notice. I will hit a rehab.

Sun, 08/07/2011 - 14:08 | 1533239 macholatte
macholatte's picture

...go make love to a beautiful women or better yet make love to hundreds of 'em, eat a lovely steak, drink a nice wine...

 

Damn near eloquent.

+100

Sun, 08/07/2011 - 15:01 | 1533436 assembler
assembler's picture

Or, you could take this time to get right with God, 'cause it's all coming down.

Sun, 08/07/2011 - 11:20 | 1532522 ElvisDog
ElvisDog's picture

Kudos for S&P pointing out the ridiculous long-term assumptions built into CBO models (3% blended interest rates, 4% annual GDP growth, unemployment falling to 6%, etc., etc.,)

Sun, 08/07/2011 - 11:27 | 1532555 WestVillageIdiot
WestVillageIdiot's picture

"a "deficit cutting" plan which is massively back end loaded"

The term back-end loaded is great.  That is what we are going to get from these clowns in Washington that have been voted in by the robots that walk are streets.  Your back end will be loaded. 

What used to be called "Personnel" departmens are now called "Human Resources".  This allows corporate drones to say, "our greatest resource is our people".  The human resources that are supposed to get things in shape are our dipshits in Congress.  By that fact alone we should be downgraded to BBB- or lower.  Is there a GGG- with an outlook negative rating? 

Sun, 08/07/2011 - 11:34 | 1532587 Azannoth
Azannoth's picture

I guess S&P hase nothing more to loose, I hope they stick to their guns

Sun, 08/07/2011 - 12:08 | 1532733 Widowmaker
Widowmaker's picture

Good luck with that. S&P needs to shut the fuck up and explain the decades of incorporated fraud.

They won't, record bonuses are coming, and the fraud and robbery continues.

Fuck them and their political risk taking.

They have plenty to lose, and lose they will.

Sun, 08/07/2011 - 11:21 | 1532526 firstdivision
firstdivision's picture

Should have used the 10% GDP growth that Ben Bernanke uses.

Sun, 08/07/2011 - 11:28 | 1532563 WestVillageIdiot
WestVillageIdiot's picture

A guy with a 2-inch dick always dreams of 10 percent growth.  I bet Mrs. Bernanke dreams of 20 percent growth while she stares at the UPS guy walking down the driveway.

Sun, 08/07/2011 - 11:21 | 1532527 Troy Ounce
Troy Ounce's picture

 

Moral of the story: politicians just can't spend less because of their urges to get re-elected.

 

Sun, 08/07/2011 - 11:29 | 1532569 WestVillageIdiot
WestVillageIdiot's picture

Buying votes ain't cheap. 

Sun, 08/07/2011 - 11:22 | 1532534 rajat_bhatia
rajat_bhatia's picture

Fuck You ZeroHedge! You Pessismist!!! Believe in Hope and Change!! Thats the American Way!!!

Sun, 08/07/2011 - 11:36 | 1532599 snowball777
snowball777's picture

How're those gold shorts holding up, Skippy?

Sun, 08/07/2011 - 11:41 | 1532625 EhKnowKneeMass
EhKnowKneeMass's picture

No, fuck you, you Interjectionphile! Now, go mount a Bos primigenius indicus that freely roam the streets in your village. Or, better yet, mount the entity from whom you have inherited the XX chromosome.   

Sun, 08/07/2011 - 11:22 | 1532536 cossack55
cossack55's picture

USSAA?  Is that like the United States of Debt?  America the Debtiful? The Star-spangled Debt Instument. Help me out here William Banzai.

Sun, 08/07/2011 - 11:35 | 1532595 Azannoth
Azannoth's picture

It should read USAA+ from now on till S&P makes it USA+ and than USB-

Sun, 08/07/2011 - 11:23 | 1532537 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

1/

Learn why America's younger generation has no Protesters!

Eight Reasons Young Americans Don't Fight Back: How the US Crushed Youth Resistance

"""The ruling elite has created social institutions that have subdued young Americans and broken their spirit of resistance....."""

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/8-reasons-you...

2/

Experts: Fukushima 'off-scale' lethal radiation level infers hundreds of millions dying.

"""Fukushima nuclear power plant radiation recordings of external gamma radiation have been so high this week, they went off scale said veteran nuclear expert Arnie Gunderson on Thursday after the famous physicist, Dr. Chris Busby told the Japanese people this week that radioactive air contamination there now is 300 times that of Chernobyl and 1000 times the atomic bomb peak in 1963, possibly inferring that hundreds of millions of people are now dying from Fukushima radiation, including people in the United States...."""

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/experts-fukus...

OT: hilarious 2 min video

upside down...

http://www.youtube.com/watch?v=W0Uju3tYS2s

Sun, 08/07/2011 - 12:44 | 1532867 augie
augie's picture

We socially engineer children to be consumers by limiting their self worth through product identfication, and then get angry when "the youth movement" is too busy getting high and playing xbox? WTF did you think was going to happen, PARENTS? Fuck off, children will lead the way once it's cool to do so, if any of you have a problem with that maybe you shouldn't contribute to a society which cultivates "cool".

if you agree, than i appologize for the flippant vulgarity. 

Sun, 08/07/2011 - 11:23 | 1532538 Long-John-Silver
Long-John-Silver's picture

Exponential Debt Bitchez!

Sun, 08/07/2011 - 11:30 | 1532573 WestVillageIdiot
WestVillageIdiot's picture

"The sky's the limit." 

Sun, 08/07/2011 - 11:33 | 1532580 Doyle Hargraves
Doyle Hargraves's picture

Hockey Sticks Bitchez!!!

Sun, 08/07/2011 - 11:23 | 1532539 falak pema
falak pema's picture

This nit picking is like trying to look for a needle in the hay stack as if it were the philosopher's stone. And forget the big, huge immense, giga, godzillon like picture of US debt and its galloping progress every day, month etc. So now its on the table.

Its time they addressed it the way they want Berlusconi et al. to do so in EU. Instead of saying we, the market will short you to hell with huge CDS and interest rate spikes; but nobody, nobody, nobody's mother on grandma does that to us and our own spreads...FED and Congress where r u ????

 

Sun, 08/07/2011 - 11:32 | 1532577 WestVillageIdiot
WestVillageIdiot's picture

"I can't see the forest because of all of these fucking trees.  Somebody get me my chainsaw.  I'll get to the bottom of this."

Sun, 08/07/2011 - 11:23 | 1532541 Winston Smith 2009
Winston Smith 2009's picture

"In the near term horizon, by 2015, the U.S. net general government debt with the new assumptions were projected to be $14.5 trillion"

The national debt clock says that we are already at $14.575 trillion.

http://www.brillig.com/debt_clock/

Please explain. What's the difference between that figure and "U.S. net general government debt."

Sun, 08/07/2011 - 11:28 | 1532561 Maxter
Maxter's picture

Exactly my thoughts when I read this too.  Aren'T we already at 14.5 trillion?

Sun, 08/07/2011 - 11:34 | 1532584 TexasAggie
TexasAggie's picture

Also in any explanation, the debt ceiling increase by the end of FY12 will have a national debt of 16.7T, and this wiill exceed the GDP unless we get >10% GDP (I guess that is what the Dept of Commenrce will use, and the GAO, and CBO over the next 4 Q).

Also, no one is factoring in the long-term SSTF debt and the Medicare deficeit. If any large US Corp used these accounting tricks to hide their long-term pension issues the BOD would be serving jail terms. (I know the way they get away with this is an old SC ruling that the gov doesn't have to pay SS or medicare).

Also, our Congress people keep talking about entitlements and they cannot touch these programs, so where in hte Constitution does it say we have programs that cannot be reduced?

Sun, 08/07/2011 - 11:55 | 1532663 mind_imminst
mind_imminst's picture

The FED and Treasury will rip the face of the bond shorts if they get too out of control. Rates will never rise to 6% like in Spain and Italy, unless it is a major event/collapse/black swan, that the US PTB did not see coming. They can see your plain old vanilla bond vigalantes coming from a mile away and will print to infinity to rip the short's faces off. They will buy treasuries. They will keep rates low....unless or until the true collapse happens.

Sun, 08/07/2011 - 12:32 | 1532816 Bam_Man
Bam_Man's picture

"Net General Government Debt" does not include the $ trillions of Treasury IOU's in the "Social Security Trust Fund". 

Pretending it "doesn't count" because "we owe it to ourselves". Which infers that it "doesn't have to be paid back". ROFLMAO. The next generation is S-O-O-O f**ked, they have no idea.

Sun, 08/07/2011 - 11:24 | 1532542 Derpin USA
Derpin USA's picture

I thought we all recognized this debt debate was a manufactured crisis.

If that's so, doesn't it make S&P's statements during the debate and its subsequent downgrade part of that manufacturing process?

Is their motivation not highly suspect?

Why do cuts they were willing to allow to be back-end loaded up to 10 years from now absolutely have to occur right now and not sometime over the next 3-5 years?

We have S&P in league with China's Dagong mouthpiece while Moody's and Fitch have reaffirmed their AAA ratings. Hmmmmmmm.

Sun, 08/07/2011 - 11:34 | 1532588 WestVillageIdiot
WestVillageIdiot's picture

Do we really think there is some group that is smart enough to coordinate EVERYTHING?  I still think it is just greedy, self-interested devils everywhere, willing to knife each other in the back at any time.  Most of the time their common goal is the status quo.  Look out, all you peasants, when it is something else. 

Sun, 08/07/2011 - 11:39 | 1532615 Derpin USA
Derpin USA's picture

Well, we are talking about the same group of right-wing financiers who were able to effectively hijack the Ron Paul movement and turn it into the Tea Party via astroturfing and a helpful hand from Fox News.

Sun, 08/07/2011 - 11:52 | 1532675 gwar5
gwar5's picture

.

 

Stop it.

The real financiers that matter, those funding governments, don't care about ideology or national interests, they only care about policies that benenfit them, and the policies that benefit them right now are continuence of the social welfare state debt economy and the wars for oil and monetary supremacy.

Sun, 08/07/2011 - 12:02 | 1532706 Derpin USA
Derpin USA's picture

Absolutely. You're not connecting the two. The financiers of the Tea Party "movement" are trying to cut welfare help to citizens while maintaining the warfare/corporate-welfare oligarchy. That's the fucking Tea Party agenda!

Don't you get it? THEY'RE THE ENEMY!

Sun, 08/07/2011 - 12:36 | 1532843 Doyle Hargraves
Doyle Hargraves's picture

You almost had me until you said something about the evils of cutting welfare. As if corporate welfare and non corporate welfare were any different at all. They are not...you are still robbing from producers to give to non producers or giving to producers that will produce if they are subsidized. But lemme guess, your guys on the left are working for 'the people', right? They have nothing to gain by keeping the welfare industrial complex going, right? In your world, it would be shut the fuck up, checks in the bank on the 1st of the month as long as you do as we say and don't think too much, a philosphy to which you obviously are a subscriber. How about this, you obviously haven't figured it out yet: there are NO DIFFERENCES between the 'left' and 'right'. They both suck the same dicks, and do the same devil's bidding. People like you are the fucking enemy and the bad part is you are your own worst enemy. You continue to shoot yourself in the foot with this whole left is good, tea party bad paradigm because you are too blind to see you are gonna get looted no matter what as long as you believe that there are more than a handful of people in dc that give a fuck about anything but themselves.

Sun, 08/07/2011 - 12:45 | 1532874 Derpin USA
Derpin USA's picture

I agree that the Democrats we have in power now are too consumed with the same evil of the Republicans: dependence upon donations to get re-elected. We need to take money out of politics. We need a Constitutional amendment that makes all campaigns publicly financed and prohibits corporations from advocacy of candidates while requiring their advocacy of legislation to be direct and transparent.

You can disagree with my philosophical agenda. I won't take it personally. But to say that the Tea Party isn't the most representative group of the warfare/corporate-welfare oligarchy is to lie to yourself.

The Tea Party:

Is not anti-war.

Is not in favor of cutting any defense spending and in fact wants more.

Is not in favor of eliminating corporate welfare.

Is only interested in gutting the social system we've built up over the decades so that the warfare/corporate welfare oligarchy can continue unabated.

How do you not see this?

Sun, 08/07/2011 - 13:46 | 1533128 Doyle Hargraves
Doyle Hargraves's picture

Who said I do not see it? I just said if you believe there are more than a handful of people in dc that give a fuck about anyone but themselves than you are your own worst enemy. And as usual Derpin, like so many other 'fights' I have had with you you again validate my every point without me having to do to much but sit here and read your drivel...

see here: "Democrats we have in power now are too consumed with the same evil of the Republicans: dependence upon donations to get re-elected"-this implies democrats not in power are any different, they are not. I just got done explaining how your democrat good republican bad is just stupidity and if you look at the garbage coming out dc you would notice there is little daylight between either party, if any at all.

Let me guess also at this piece: "We need a Constitutional amendment that makes all campaigns publicly financed and prohibits corporations from advocacy of candidates while requiring their advocacy of legislation to be direct and transparent."-let me guess on this one though, only those mean ole Koch Bros., and their ilk would be banned not the many money laundered alledged non profits funneled money from Soros, et al. because after all they are 'for the people', right? Your for equality on all this as long as equality benefits the welfare industrial complex you support. That is just the same fascism as you say the 'tea party' represents, just representative of a different industry (the welfare industry).

Finally, "Is only interested in gutting the social system we've built up over the decades so that the warfare/corporate welfare oligarchy can continue unabated.": I am interested in gutting the entire social system we have built up over the last few decades! We cannot afford it plain and simple. You cannot make any argument about raising taxes, cutting defense, or any other hare brained scheme that will even put a dent in the costs the social system makes us incur and we will continue to incur for the long foreseeable future. There is no way in hell to get the money without putting the fuck on every future generation, and at some point that future generation will take power and cut the looters off for self preservation. Of course I have my doubts the system will last that long. There are too many takers, that do not need to be takers. They are people like you that believe the system is there for their benefit. It isn't! Where the hell is there a difference between the miltary industrial complex and the welfare industrial complex? It is still one class of people robbing another at the point of a gubmint gun in order to do what they want without any responsibility for themselves. Be it the person receiveing the benefits (when most of them DO NOT need them) or the person making a buck off administering the benefits (which judging from your general disposition you are probably one of them). I am all for gutting the whole social system to death with my own fucking bayonet and proudly photographing it's butchering with the system's blood up to my fucking eyeballs.  

I am also against our empire and wars  and this is where I know you are a stupid troll and this will be the last post I deal with you huffpo trolling ass. If you knew one thing about true tea partiers (i.e. Ron Paul was the original), you would know that ending wars and closing foreign bases is a central plank to the philosophy. Not for any other reason then we cannot afford it. That goes double for corporations, banks and the fed. Most tea partiers want to defund it all. It is funny because you democrats ran the shit unabated 2006-2010 and did nothing to stop corporate welfare just gave out corporate welfare to the companies you thought deserved it more (GM, Chrysler, Ethanol subsidies, Green Energy subsidies), yet you still argue tea party is for corporate welfare (HINT: it is best to know the policies of what you support and what the policies of the faction you are against before going and arguing for/against it on a site like ZH, it doesn't work as well as it does on huffpo,kos,etc. those sites are designed especially for sheep like you and the whole democrat good tea party bad, no I don't know why they are bad they just are), See all your arguments, no matter how hard you try to disguise them let your true hard core "I'm a flaming democrat" attributes shine through. It is really sad though, because when the country goes down in flames as it soon will, you will still be there clutching your democrat good tea party bad mantra not understanding what the hell is happening, and when the check doesn't arrive on the 1st because the US gubmint is bankrupt, and in hiding you may begin to realize that you were wrong all that time, and you may have to rely on the CHARITY of those of us who never had any faith whatsoever in 'the social system' you seem to have so much faith in (that cannot operate without the forced contributions of people like me). I just hope you are not responsible for anyone's life but your own, because I would hate to think that anyone is relying on your poor judgement.

Sun, 08/07/2011 - 14:06 | 1533229 Derpin USA
Derpin USA's picture

Who said I do not see it? I just said if you believe there are more than a handful of people in dc that give a fuck about anyone but themselves than you are your own worst enemy.

I agree.

And as usual Derpin, like so many other 'fights' I have had with you you again validate my every point without me having to do to much but sit here and read your drivel...

Really? Because you typed out a fucking manifesto in response.

I just got done explaining how your democrat good republican bad is just stupidity and if you look at the garbage coming out dc you would notice there is little daylight between either party, if any at all.

I am in favor of the Democratic Party's general principles, not how they vote or govern. I agree with you.

-let me guess on this one though, only those mean ole Koch Bros., and their ilk would be banned not the many money laundered alledged non profits funneled money from Soros, et al. because after all they are 'for the people', right?

Wrong. I am for removing all private money and corporate advocacy for all candidates, up to and including unions and non-profits. I am fine with any group presenting their perspective on policy so long as it is completely transparent and no subterfuge is used.

I am interested in gutting the entire social system we have built up over the last few decades!

So you voted Republican/Tea Party this last election?

Isn't that the common refrain? "BOTH SIDES ARE BAD SO I VOTED REPUBLICAN."

I'll answer the rest of your verbose attempt at taking me down if you deny that. Otherwise, blow me.

Sun, 08/07/2011 - 15:25 | 1533494 Doyle Hargraves
Doyle Hargraves's picture

 

"I am in favor of the Democratic Party's general principles, not how they vote or govern"-If they do not vote or govern their principles than that makes them fake which makes you fake. I do not compromise my principles and the only pol I half way trust is Ron Paul, and as far as I have seen via his voting record he votes on principle. There is not one democrat out there that can say that debt brotha included, because as you said they don't vote or govern their principles which makes them liars and fakes if you want to admit to being a part of that you do so at your own discredit and ignorance.

It is a common refrain for democrats maybe, most people with a fucking brain can think for themselves, first off last election I wrote in my candidates, and I have ZERO party affiliation. I don't need you to answer anything your answers so far have pretty much implicated that you are exactly what I said you are, and you haven't said anything yet that disputes my claims so I will make it again you are ignorant and I hope no one relies on you for their well being but yourself because they will be very disappointed when SHTF. Second, I believe in God so homosexuality is out for me, though I hear it is a commonly accepted practice where you come from.

It is always funny to see you bitchez resort to name calling and telling people to participate in vulgar acts when you have no argument to speak of. I am very sure, like every other sheep in the "democrat good tea party bad, though I don't know why I believe that" paradigm you voted straight down the ticket democrap last election because you didn't think for yourself. As I said, I wrote in my candidates, and usually always do, no party affiliation required, that is if I even vote, it is much easier to call the system corrupt (because it is), and pontificate about how our problems will not be solved at the ballot box, but with the ammo box (that moment is coming in short order).

"So you voted Republican/Tea Party this last election?"

It is always funny to see you libs assume those of us who want to end the welfare industrial complex (something you have purposely ignored, which validates my assumption you benefit heavily from its existence for your subsistence) always vote republican or tea party? Have you ever thought just for once, that others outside the extreme lib wing of the democrats want to end the welfare state? It is incomprehensible for you to imagine that anyone would not want free money (free as long as there is a gun at my head taking it, then it is free for someone) and would vote against the welfare state except those mean ole tea partiers. I am an anarcho-capitalist (yes I know it is a big word for someone with such a limited intelligence as yourself), and I despise the state in general. Many if not most would gladly get rid of the welfare state in order to get the state out of our business. We just wanna be left alone! You libtards will never understand that you are the minority, you are the only ones who want the welfare state to continue. Most fair minded folk know it cannot continue, because of the fact we are broke and it does not benefit anyone but is a waste of valuable resources that could be used much more efficiently had the gubmint gun not reallocated them. You have spent so long in that democrap box you have lost touch with any sense of reality and any ability at reasoning except for those that agree with you. Which again, makes you ignorant.

When you parasites realize that the social programs are no more because we the productive will not pay for them ever again, you will eventually have to accept that and plan accordingly for some other line of work that may even be beneficial to our society in someway, or even add value, if you can get your mind around that concept, as oppose to what you do now.  I do not consider my response a manifesto, but rather a considered response to a very ignorant person who believes very strongly in something that they have no clue or idea what it really represents. It is a shame you are so limited in your sight because you don't even see the wreck approaching you which is why I hope no one else relies on you.

As far as my 'verbose' attempt at taking you down despite my bellicosity towards your very weak position, I fear I haven't taken you down, you have taken yourself down through your own ignorance. I am sorry that thoughtful response is considered a manifesto, whereas a short blow me, or some other fairly thoughtless remark would suffice in clearly laying out my position in such a concise way you may be able to wrap your feeble, uneducated mind around it, and not have to use dictionaries to understand where I am coming from. Please spare me your childish one liners and other name calling responses to my 'verbose' manifesto, as I do not want you to have to work too hard on a sunday on something that has only taken me minutes to prepare. Of course just in case what I have just laid out is over your head (which judging fir our conversation so far, it is), I will leave you with this last link that will sum up my overall opinion of your understanding of anything at all...(and it is shameless self promotion).

 

http://www.youtube.com/watch?v=2sBmUszhP_Q

Sun, 08/07/2011 - 11:25 | 1532546 slewie the pi-rat
slewie the pi-rat's picture

 

 

timmah is doing his job
S&P is doing its job 
neither one of them wrote the styoooopid law
neither one of them runs the CB0

we are always operating under our assumptions
tyler might add to that:  + 1 agenda
so maybe:
                   forecast = assumptions + agenda
fight club!

Sun, 08/07/2011 - 11:33 | 1532547 Hansel
Hansel's picture

Why is it acceptable to ignore intragovernmental debt in debt to GDP calculations?  To pay the intragovernmental debt, the Treasury has to issue new debt.  Using the full $14.56 trillion debt, the U.S. is already at 97%.

Sun, 08/07/2011 - 11:25 | 1532549 At120
At120's picture

At least the S&P has the courage to downgrade.  Moody's is owned by Obama's A-Number-One Wall St Boy Warren Buffett and Fitch is in bed with the government. 

Sun, 08/07/2011 - 11:36 | 1532603 WestVillageIdiot
WestVillageIdiot's picture

Am I the only one that thinks this makes Moody's look like a collection of royal, Grade-A, douche bags.  If this were the 50s newspaper business we would say, "they've been scooped".  They really fucked up by letting S&P do this first.  While Moody's was out taking a piss S&P decided to pull back the curtain. 

Sun, 08/07/2011 - 11:26 | 1532551 I am a Man I am...
I am a Man I am Forty's picture

geithner:  i can't believe these assholes won't let us kick the can down the road longer than 2015!

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