Comments on: Fury brewing at ratings agencies as markets gyrate http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/ Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: jjd http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7384 Wed, 10 Aug 2011 17:39:59 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7384 So S & P dropped the U.S. rating below AAA. I wonder if they ever took the time to go back and change the rating on Enron and all the others they missed on?
Now they’re talking about a downgrade for Fannie and Freddie who EVERYONE knows is underwater. These guys have “0” credibility.

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By: Independent007 http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7361 Wed, 10 Aug 2011 15:14:38 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7361 And lets get one thing clear, I was out of the market months ago. And another point. I actually agree with S&P’s decision.
I suspect their motives though. Especially when they were part of the kabal that caused this in the first place.

Answer me this anyone on this board. Would the US have been downgraded if it didn’t bailout the banks and didn’t start a phoney war in Iraq?
My answer: NO. Am I wrong? Do the research and come back at me. That is the big picture. And during this time, S&P was ABSOLUTELY colluding with the banks and giving their fraudulent mortgage vehicles AAA ratings. So forgive me if I question their motives now, its well deserved.

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By: jhchang http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7351 Wed, 10 Aug 2011 12:49:31 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7351 As Jack Nicholson would say “The Truth? You Can’t Handle the Truth!”

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By: lhathaway http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7350 Wed, 10 Aug 2011 12:16:12 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7350 They have a motive, just like they had a motive in the sub-prime fiasco: to enrich themselves and their cronies on Wall Street. By threatening to downgrade unless the US cuts its deficit, they are lending a hand to the Tea Party so that no funds will be available to oversee Wall Street and their partners, the ratings agencies. What they proved throughout the sub-prime debacle was not that they got it wrong, but that they were no longer an impartial observer. They are in it for their own game, hand in hand with Wall Street.

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By: yrbmegr http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7349 Wed, 10 Aug 2011 11:56:36 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7349 When Warren Buffett says you’re full of s$%!, you have a serious credibility problem.

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By: Kitko http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7348 Wed, 10 Aug 2011 11:53:00 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7348 Well spotted and well written.

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By: Laughter http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7347 Wed, 10 Aug 2011 11:45:29 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7347 Wait just a second. Just because they got it grossly wrong with the mortgage-backed securities doesn’t necessarily mean that they are getting it wrong with the sovereign debt. Seems to me that keeping these various sovereigns at AAA or the like would just be doubling down on the mess they made with mortgage-backed securities. This is a case where you may indeed be killing the messenger. The US has real issues that bely anybody thinking it should maintain a AAA rating. If anything, the agencies were too slow again. But when they finally begin to catch up, don’t complain because they are catching up. So you were long in stocks? Wah-wah-wah. You’ve seen this coming ALL summer. Sounds to me like you were just chasing profits and were caught. Get over it.

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By: thedocument http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7346 Wed, 10 Aug 2011 11:44:24 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7346 Nonsense. Stocks were well on their ways into a correction before the debt downgrade. We have a Congress that can’t zip the purse strings, a central bank that is fervently trying to debase our currency, and a president who is anything but market savvy. And now people want to blame S&P for simply expressing an opinion? Maybe if individuals actually did their investment homework instead of blindly expecting stocks to go up ad infinitum, they wouldn’t get wiped on periodically. Besides, why is it such a bad thing when prices go down? Most people generally like to buy things more cheaply.

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By: lliamydale http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7345 Wed, 10 Aug 2011 11:24:36 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7345 Downgrading USA base in government bond alone is not reasonable, Considering the US economy is very diverse, just
because of Default swap, after a week they made Statement, How a researcher concluded in that very short time.

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By: Hewson http://blogs.reuters.com/reuters-wealth/2011/08/09/fury-brewing-at-ratings-agencies-as-markets-tank/comment-page-1/#comment-7343 Wed, 10 Aug 2011 10:36:17 +0000 http://blogs.reuters.com/reuters-money/?p=18147#comment-7343 Great to see someone voice so well what I’ve been commenting on ad nauseum for months. It’s way past time to pull the teeth from these sharks and send back into the sea as the gummy fish they really are. That institutions with such a litany of failure behind them can be taken seriously by anybody is a mystery that still puzzles me. Entire countries (including my own, Ireland) have been brought to their knees at the stroke of a pen by people who have proved unable to do basic math.

@Independent007. You’re spot on about outlawing shorting of government bonds and CDSs. And then I’d like to see the offices of the agencies in every country in which they operate rooted through by the police (as has already happened in Italy). I have no doubt whatsoever that there lurks in these offices evidence of dubious practise of one form or another.

It’s time to get off the fence and hit back.

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