Standard and Poor's downgrades US to AA+

[wiphan]

If these ratings companies are so good at their job and so credible then what the hell were they doing in 2005,2006, and 2007 when they were rating the mortgage backed securities AAA?

[jms62]

Originally Posted by wiphan

If these ratings companies are so good at their job and so credible then what the hell were they doing in 2005,2006, and 2007 when they were rating the mortgage backed securities AAA?

And how did the portfolio's of the Execs of S&P fair the last few days ? Information on a definite downgrade ahead of time was worth Billions.

[Danzig]

Originally Posted by jms62

And how did the portfolio's of the Execs of S&P fair the last few days ? Information on a definite downgrade ahead of time was worth Billions.

i found it interesting that after warren buffett hammered s & p that they downgraded berkshire hathaway.

[joeydb]

Some of you guys are so desperate to exonerate Obama for this mess, it's sickening. Face it - he was never up to the task of being president. All the window dressing in the world won't make this guy look any better. He's done.

[Antitrust32]

Originally Posted by joeydb

Some of you guys are so desperate to exonerate Obama for this mess, it's sickening. Face it - he was never up to the task of being president. All the window dressing in the world won't make this guy look any better. He's done.

I'd give him a 20% chance of being re-elected if the republicans had a strong candidate. They dont, so I still think its 50/50.

But there are very few people happy with Obama right now. He will have a tough time.

The sad thing is it doesnt really matter.. the next guy will prob be similar to Obama and Bush.

[joeydb]

Originally Posted by Antitrust32

I'd give him a 20% chance of being re-elected if the republicans had a strong candidate. They dont, so I still think its 50/50.

But there are very few people happy with Obama right now. He will have a tough time.

The sad thing is it doesnt really matter.. the next guy will prob be similar to Obama and Bush.

All politicians are alike to some degree. I just want the next guy, and everyone after that, to agree that from now on we spend LESS than we take in, every year, until this debt is gone.

Originally Posted by joeydb

All politicians are alike to some degree. I just want the next guy, and everyone after that, to agree that from now on we spend LESS than we take in, every year, until this debt is gone.

[dellinger63]

Originally Posted by Antitrust32

.

The sad thing is it doesnt really matter.. the next guy will prob be similar to Obama and Bush.

I kind of agree with that and it's sad. I do think America is waking up a bit as demonstrated by the Tea Party. But right now it would be nearly impossible for a platform of raising taxes, to pay down the debt while eliminating most every government program to do the same to be successful. The problem is no one ever refuses a benefit and even if they do (as in the case of Wisconsin's rail money) it's immediately and mindlessly given to someone else.

The fact Obama threatened the military and seniors of not getting their checks unless the ceiling is raised and then the first thing he does once he receives the loan is send $100,000,000.00 to Somalia is sickening! We are broke and sinking and this guy is throwing our life vests off like he's trying to feed the birds.

[Clip-Clop]

Politicians do not understand basic economics at all. This is why they bring in experts like Geithner to explain it to them...

[Riot]

Originally Posted by joeydb

Some of you guys are so desperate to exonerate Obama for this mess, it's sickening. Face it - he was never up to the task of being president. All the window dressing in the world won't make this guy look any better. He's done.

What complete nonsense. Get a grip on reality. The Tea Party alone caused the downgrade, and they, and the Republican House that couldn't control them, own it.

It's the small subset of novice people with their "no raising the debt ceiling" complete financial idiocy that caused this. Can't wait until they are voted out of Congress next year. One and done. Anyone can be elected to the House, and that sure proved it.

And yesterday we have Ryan telling his caucus to "stand firm" and refuse all tax increases in the future. These people are literally destroying America with their stupidity and quest to destroy our government and our country, and obtain political power.

That said, we have the biggest Republican Do Nothing Congress in decades - this country is in recession and all they've done is name post offices? - a Republican Senate Minority Leader in McConnell who has said he will take the debt ceiling hostage for political purposes again and again, and that his primary legislative goal is to make the President fail.

How dare he.

Two years of complete political obstructionism by the Republican party, now literally causing harm to this country with the ratings fall (not that S & P is a paragon of ratings virtue). That was just S & P, Wall Street, jerking their owned Republican leashes for being stupid about the economy. These treasonous, unpatriotic jackasses have to lose their jobs, and they will next fall. Politics before country - eff them.

[Antitrust32]

Originally Posted by Riot

What complete nonsense. Get a grip on reality. The Tea Party alone caused the downgrade, and they, and the Republican House that couldn't control them, own it.

this is so ridiculous it makes me question your sanity.

sure, the tea party had a helping hand, but they were FAR from alone in causing it.

Obama and the dems own it as much as the tea partiers do. And the american people know that.

[Antitrust32]

do you really think we would not have been downgraded had the congress just raised the debt ceiling two months ago and done nothing else (spending cuts)?

You must not be listening to S&P. the political postering surely didnt help the situation, but its the out of control spending that caused this downgrade. Both Parties are to blame for that, and actually, the tea party might be the only ones you cant blame for the spending.

you giving the dems a free pass on this is so illogical.

[Riot]

Originally Posted by Antitrust32

sure, the tea party had a helping hand, but they were FAR from alone in causing it.
.

Baloney. Boehner and Obama compromised with $4 trillion and tax increases through loophole cutting (exactly what S & P's, Moody's, etc. wanted, because they talked to the President), and the Tea Party congressional Republicans nixed it.

Who held the good faith and credit of the US hostage by refusing to raise the debt ceiling? The Tea Party and the GOP.

Who created two months of drama over a routine raise of the debt ceiling? The Tea Party and the GOP.

And you question my sanity? Look at reality. No - Obama and the Dems didn't do any of that - they compromised while the GOP gave up nothing and brought this country to the brink of disaster. And the American people know that.

Name one thing the Dems or Obama did to obstruct raising the debt ceiling? You can't. It doesn't exist.

[dellinger63]

Originally Posted by Riot

What complete nonsense. Get a grip on reality. The Tea Party alone caused the downgrade, and they, and the Republican House that couldn't control them, own it.

The failure of the President to accept Ryan's budget plan caused the downgrade. The head of the S&P is on video stating such.

But Obama still considering us AAA is what really counts.

[Riot]

Originally Posted by dellinger63

The failure of the President to accept Ryan's budget plan caused the downgrade. The head of the S&P is on video stating such.

But Obama still considering us AAA is what really counts.

What bullshit. The GOP didn't even accept Ryans Budget. And the S & P guy said that on Fox News Sunday, now with an edited video making the rounds. Read the S & P published announcement statement where they jerk their Republicans leashes for being stupid and moronic about dealing with the debt crisis, and called them out by name.

And not only does Obama still consider us AAA, the market does, too - you'll notice they all rushed into US Treasuries yesterday as stocks fell.

[joeydb]

Originally Posted by Riot

What complete nonsense. Get a grip on reality. The Tea Party alone caused the downgrade, and they, and the Republican House that couldn't control them, own it.

The Tea Party caused this? Tell me - how much debt spending did the Tea Party actually do? Wild spending liberals did this. They don't understand math anyway - their condescension and arrogance notwithstanding.

Or maybe you think that since the Tea Party actually made their representatives do what they said they would do - cut spending -that they are the problem. In other words, eternally expanding borrowing IS possible, according to you.

Stop reading the talking points of Obama and Dems and think for yourself. Then you'll see how ridiculous your statement above looks.

[Antitrust32]

Originally Posted by joeydb

The Tea Party caused this? Tell me - how much debt spending did the Tea Party actually do? Wild spending liberals did this.
.

to be fair... the republican controlled congress going through 2006 certainly spent like crazy and helped cause this. The dem controlled congress just kept the spending going, maybe a little more hog wild.

the tea party is the only group that hasnt spent like crazy. but they have their major faults. why they refuse to close loopholes in taxes is beyond me.

[Riot]

Originally Posted by jms62

And how did the portfolio's of the Execs of S&P fair the last few days ? Information on a definite downgrade ahead of time was worth Billions.

You mean where S & P called in their biggest investors days before the downgrade, to discuss it with them, in possible violation of SEC rules?

Wall Street makes money when the market crashes. They don't care what happens to the market, they just want to be on the right side when it moves. It's private investors with retirement accounts who are giving it away.

Of course, the Republicans are blocking everything they can out of the newly created Consumer Financial Protection Bureau.

[jms62]

Originally Posted by jms62

And how did the portfolio's of the Execs of S&P fair the last few days ? Information on a definite downgrade ahead of time was worth Billions.

S&P under investigation

http://finance.yahoo.com/news/SEC-in...&asset=&ccode=

[dellinger63]

Originally Posted by jms62

S&P under investigation

http://finance.yahoo.com/news/SEC-in...&asset=&ccode=

I heard Soros made a billion.

The Consumer Confidence Index ie the American people needs to be investigated as well as the rating is at its lowest since '08. Obama says we're AAA and in his mind and maybe Riot's that's all that counts.


Like the families of the fallen SEALS who did not want photos. The pentagon honored their wishes but the White House couldn't pass up a photo opportunity, and of course like with the S&P, it doesn't matter what they (the families) think.