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Obama's track record in staring contests isn't very impressive.
Obama And Boehner Pledge Neither Will Blink On Taxes In Debt Ceiling Talks
http://www.huffingtonpost.com/2011/0...tml?view=print
Obama's track record in staring contests isn't very impressive.
Understatement of the year.
Barry also promised a couple days ago Congressional Dems that dubya's tax cuts won't be extended again.
you know whats wrong with moody and any credit rating consultant company is that the they release to the public is damaging to a company, in other words these clowns can just make up and put it on the market and speculate that doesnt describe the current activity. in other words the price of shares and , these guys can make it go or down with just a single word about a company, then what a company clearly shows it can still operate and meet its obligations, all these rating companys are speculating the foreseeable future base on 'what ifs' scenarios....
Not saying you're wrong, but in this specific instance the action certainly seems justified.
downgrading a companys rating cause they think they cant meet its obligations? so the market investors pull out and where is the funds for that company to continue to operate or used the funds in hand to meet its obligations or attract more investment?
speculating the company on 'going concern rule' when there are other scenarios the company can do which it hasnt decided yet that could keep it trading...
back to the tax package, how does moody know if the package wont work? when you speculate negative horse into the market and it spreads, wtf will give the package a try b4 coming to conclusions for the actual result, then something from moody basing it on budgeted results....
Not only that, I would say they are at fault on their mission. The rating should have been downgraded long ago, once there was any indication of possible default.
Moody's and their threats. They're owned by Wall St.
Can we call them terrorists and bomb them?
Hang tight. That day may not be very far away.
That's kind of the entire point behind ratings agencies.
They have to use higher interest rates to attract more investment. No different than how an average person with a bad credit score will have to pay a higher interest rate on a loan than someone with a good one.so the market investors pull out and where is the funds for that company to continue to operate or used the funds in hand to meet its obligations or attract more investment?
A company that has options as to how they can shore up their finances, but hasn't yet decided to do so is still an increased credit risk over a company who has decided to do so.speculating the company on 'going concern rule' when there are other scenarios the company can do which it hasnt decided yet that could keep it trading...
Right now, there is no package. Moody's is considering the downgrade based on an increased risk of a package not getting done.back to the tax package, how does moody know if the package wont work?
The ratings agencies tried the "give it a try before coming to conclusions" approach with mortgage backed securities. Didn't work out too well.when you speculate negative horse into the market and it spreads, wtf will give the package a try b4 coming to conclusions for the actual result, then something from moody basing it on budgeted results....
2008: "Why didn't you evil ratings agencies tell us there was risk here?"
2011: "How dare you evil ratings agencies suggest there's some risk here?"
This.
The same Moodys that blindly rated toxic securities derivitaves AAA until the golden parachutes gained enough al ude to be deployed.
Last edited by Agloco; 07-14-2011 at 09:49 AM.
Do you think that's going to stop or even slow down the US Govt from borrowing us into a deeper hole?
I don't see any consequences except for the middle-lower class laypeople who will eventualy foot the entire cost of this debacle in one form or another.
US capitalists own about 40% of US debt.
Ain't no way they're gonna let their employees in Congress give them a haircut.
Doubt it.
Doubtful the impact would be limited to middle/lower classes, but it would certainly suck.
Swelling is a , but yeah: don't tattoo the swelling!
Egan-Jones downgrades US rating.
Am I the only one appalled by the fact that the largest economic powerhouse the world has ever seen is beholden not to its people, but banking ins utions and their proxies?
Is it backwards day?
What's appalling isn't that wealth is self-serving/perpetuating, it's that it has captured our political process. Politicians side with special interests against the people.
Don't like the banks having so much say over your lives? Don't be in so much ing debt.
The less debt you're in, the less of a you have to give about what the bank thinks.
Pretty simple really.
I don't owe much at all, yet I have to deal with TBTF banks. Either me or the generations ahead of me are going to have to deal with that $1T + interest bailout, and any other bailout that might be necessary in the future.
Meanwhile.....
Executives from rating agencies Standard & Poor's and Moody's Investors Service are scheduled to testify on Wednesday on attempts to reform the credit rating industry and the role it is playing in the U.S. debt ceiling debate.
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