Standard & Poor’s recent downgrading of the US credit rating is being billed in the media as a major blow to the economic credibility of the nation and to the future election prospects of President Obama, but there are some special interests that appear to have benefited from that black mark on the US currency.
Those beneficiaries include the parent company of S&P as well as a Republican senator and aspiring vice presidential candidate who played a key role in the recentdebt-ceiling negotiations that engulfed Congress and the White House in turmoil over the summer.
On Aug. 5, S&P, a subsidiary of McGraw-Hill Cos., lowered its assessment of US long-term debt, cutting its rating from a top-notch AAA to a slightly less-favorable AA+ (the only major rating agency to do so) and in the process sent shock waves through world markets.
Within days of that action, another event occurred that was barely covered in the mainstream media.
2 comments:
Portman a Vice Presidential candidate? Wow, I bet they ordered Chinese takeout too! That makes them even more suspicious!
Reminder to those of you who are clueless: THE CHINESE ARE NOT OUR FRIENDS!!
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