Standard & Poor’s has been wrong before. But they’re right now.

http://www.washingtonpost.com/blogs/ezra-klein/post/standard-and-poors-has-been-wrong-before-but-theyre-right-now/2011/07/11/gIQANpnIyI_blog.html

Standard Poor’s decision to downgrade the United States has led to a lot of criticism of Standard Poor’s. The White House called their performance, which included a miscalculation of about $2 trillion, “amateur hour.” Rep. Barney Frank was even less sparing. “These are some of the people who have the worst records of incompetence and irresponsibility around,” he told Rachel Maddow last night. They are trying to “justify their reputation.”

add this to the kitty

Why S&P Has No Business Downgrading the U.S. by Robert Reich

http://robertreich.org/

S&P has downgraded the U.S. because it doesn’t think we’re on track to reduce the nation’s debt enough to satisfy S&P — and we’re not doing it in a way S&P prefers.

Pardon me for asking, but who gave Standard & Poor’s the authority to tell America how much debt it has to shed, and how?

mistermunster wrote:add this to the kitty

Why S&P Has No Business Downgrading the U.S. by Robert Reich

http://robertreich.org/

S&P has downgraded the U.S. because it doesn’t think we’re on track to reduce the nation’s debt enough to satisfy S&P — and we’re not doing it in a way S&P prefers.

Pardon me for asking, but who gave Standard & Poor’s the authority to tell America how much debt it has to shed, and how?

Had S&P done its job and warned investors how much risk Wall Street was taking on, the housing and debt bubbles wouldn’t have become so large – and their bursts wouldn’t have brought down much of the economy. You and I and other taxpayers wouldn’t have had to bail out Wall Street; millions of Americans would now be working now instead of collecting unemployment insurance; the government wouldn’t have had to inject the economy with a massive stimulus to save millions of other jobs; and far more tax revenue would now be pouring into the Treasury from individuals and businesses doing better than they are now.

Good read thanks Munster

gettheminNOVEMBER wrote:

mistermunster wrote:add this to the kitty

Why S&P Has No Business Downgrading the U.S. by

http://robertreich.org/

S&P has downgraded the U.S. because it doesn’t think we’re on track to reduce the nation’s debt enough to satisfy S&P — and we’re not doing it in a way S&P prefers.

Pardon me for asking, but who gave Standard & Poor’s the authority to tell America how much debt it has to shed, and how?

Had S&P done its job and warned investors how much risk Wall Street was taking on, the housing and debt bubbles wouldn’t have become so large – and their bursts wouldn’t have brought down much of the economy. You and I and other taxpayers wouldn’t have had to bail out Wall Street; millions of Americans would now be working now instead of collecting unemployment insurance; the government wouldn’t have had to inject the economy with a massive stimulus to save millions of other jobs; and far more tax revenue would now be pouring into the Treasury from individuals and businesses doing better than they are now.

Good read thanks Munster

I'm sick and tired of HOW "WE" GIVE so much credence and outright "POWER" to THESE people. WHO are they are WHY should we care what they say? This IS the problem with our SYSTEM of the FEW controlling the MANY.

Kind of like that patsy Grover Norquist Who the hell gave him so much power?

gettheminNOVEMBER wrote:Kind of like that patsy Grover Norquist Who the hell gave him so much power?

The real problem with our situation is THAT the rest of the world is SEEING us as UNGOVERNABLE no thanks to ALL these fools in the INNER CIRCLE of power. Time to round them up and just string em up. We NEED to get rid of ALL these people with this DESTRUCTIVE one-track mindset that has led us to this mess. And Start over, IT'S THE most DIRECT WAY. And WE "NEED" to stop giving POWER and legitimacy to NON-ELECTED big wigs.

S & P = we have no ... cred-a-bil-ity ...

http://read.bi/nbMwoh