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S&P lowers US Credit Rating
#81
Rating agencies are an abomination and shouldn't exist at all.
A group of poeple paid to evaluate the value of the holdings of those who pay them. Go figure.
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#82
Ratings agencies should indeed exist. They are more like "advisors", sometimes to be taken with a grain of NaCl. Just like one's advisors on investments, the advice you get about the car you drive, the food you eat, the woman you copulate with, etc. etc. Each person must make up their mind whether to follow the advice.

Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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#83
With advisors like that, one doesn't need ennemy.
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#84
Caveat emptor.
Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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