Standard and Whores?
Today is Monday, 18 April 2011.
Stock markets around the world took a dive on news that rating agency Standard and Poor's is threatening to downgrade U.S. government debt from AAA, unless sufficient progress is made on reducing deficits and national debt within two years.
Why should anyone any longer pay the slightest attention to the opinions of a company so intellectually and morally bankrupt and corrupt, that it gave, in exchange for cash, blue-chip ratings to securitizations of subprime mortgages, to collateralized debt obligations, etc., when it was obvious that the latter were toxic?
At least, when one hires a prostitute for sex, while one runs a risk of infection, one receives a good time in exchange for one's money.
Stock markets around the world took a dive on news that rating agency Standard and Poor's is threatening to downgrade U.S. government debt from AAA, unless sufficient progress is made on reducing deficits and national debt within two years.
Why should anyone any longer pay the slightest attention to the opinions of a company so intellectually and morally bankrupt and corrupt, that it gave, in exchange for cash, blue-chip ratings to securitizations of subprime mortgages, to collateralized debt obligations, etc., when it was obvious that the latter were toxic?
At least, when one hires a prostitute for sex, while one runs a risk of infection, one receives a good time in exchange for one's money.
posted by HH at 9:59 PM
1 Comments:
Why should anyone any longer pay the slightest attention to the opinions of a company so intellectually and morally bankrupt and corrupt, that it gave, in exchange for cash, blue-chip ratings to securitizations of subprime mortgages, to collateralized debt obligations, etc., when it was obvious that the latter were toxic?
Thank you for asking the obvious question that nobody in the popular media has bothered to ask yet. The question is rhetorical but I sure would like to hear a response from Standard and Poors. The international public deserves to have his question repeatedly asked until either S&P answers or until enough public consciousness has been raised to create an overwhelming public demand for an answer.
I am entirely willing to provide the same service as S&P with at least as much integrity and competence as S&P at a quarter of the cost. Come on all of you good capitalists. My offer is better than a tax break for improving your bottom line. I'll guarantee an apprpriately fraudulent rating and you can hand out the savings in stock dividends to prove your fiduciary compliance with the mandate to maximize profits.
The best part, if things go south the taxpayers will make you whole and the RtR rating agency will keep on working for you.
We're in the money,
The skies are sunny,
We've got a lot of what it takes to get along...
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