Waamax

What about S&P downgrading Moody or Fitch or each other for their woeful performances over the years?
I wonder how often these guys talk to each other.

S&P today downgraded US rating from AAA to AA+. In my opinion that was absolutely wrong. US dollars might not be AAA, US government’s functioning recently might not have been AAA (thanks to politicians in Washington to take the debt ceiling talk almost to the brink) but US debt is undoubtedly AAA.

And besides that, with S&P’s history of being a complete failure during 2008 housing market collapse, I don’t see any credibility in whatever they say about the ratings.