The decision by credit rating agency Standard & Poor’s to downgrade the United States [1] after markets closed on Friday may have kicked up political [2] consternation [3] and triggered a market plunge [4], but it also raises important questions about the reliability of credit ratings and, for that matter, the firms that bestow them.
Just over a dozen countries currently have an AAA [5]—or lowest-risk—rating from each of the three main rating agencies: Moody’s, Fitch, and Standard & Poor’s. Until this weekend, the United States was among them. (It’s now roughly on par with Australia, which also has two AAAs and one AA+.)
3 comments:
It means decades of trickle down economics have not worked.
Obama and Michelle are throwing a Black Panther party b/c of this down fall of the White Man's country...
It means France should immediatly send me a case of Merlot and a brick of Cheddar. I prefer aged sharp!
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