What happens if you run a ratings agency and you strip the USA of it's AAA rating?

[DimPrawn]

S&P president Deven Sharma steps down just weeks after credit rating agency stripped US of AAA credit rating - Telegraph

McGraw-Hill, the parent of S&P, said in a statement late last night that he will be replaced by Douglas Peterson, now the chief operating officer of Citibank, Citigroup's chief banking arm.



It's a farce!

[TimberWolf]

It's all a farce. Rich people don't get to stay rich by accident.

[Churchill]

It's all a farce. Rich people don't get to stay rich by accident.

Come the revolution, eh Brother?

I wonder who that is breaking the door do...

[DimPrawn]

Gold going up so fast it will breach infinity any day now.

[AtW]

Someone apparently bet like $800 mln on rating cut and made $10 bln.

[DimPrawn]

Someone apparently bet like $800 mln on rating cut and made $10 bln.

Who would do such a thing? I know I wouldn't.

[AtW]

Who would do such a thing? I know I wouldn't.

Who would without solid inside info on exact timing of event that never happened before...

[Clever Hans]

They've also launched an investigation into S&Ps evaluations leading up to the credit crisis.

Apparently, its important to look at this stuff now. For some reason.

Assuming S&P's grading is fair (and presumably well, well, overdue), then the outrageous political reaction is surely reason enough to downgrade the USA further.

[DimPrawn]

The funny thing is, this news will unsettle "investors" who will sell, sell, sell and buy into the "safe haven" of US government debt (bonds).