- Consider, in particular, the case of Japan, which S.& P. downgraded back in 2002. Well, nine years later Japan is still able to borrow freely and cheaply. As of Friday, in fact, the interest rate on Japanese 10-year bonds was just 1 percent. http://www.nytimes.com/2011/08/08/opinion/credibility-chutzpah-and-debt.html?_r=1&src=ismr_hp_lo_mst_fb 6 comments politics
- S&P gave AAA ratings to mortgage-backed assets that have since turned into toxic waste. They gave Lehman Brothers A-rating. Their opinion means shit. http://www.nytimes.com/2011/08/08/opinion/credibility-chutzpah-and-debt.html?_r=1&ref=opinion 2 comments reddit.com
- Notoriously, S.& P. gave Lehman Brothers, whose collapse triggered a global panic, an A rating right up to the month of its demise. http://www.nytimes.com/2011/08/08/opinion/credibility-chutzpah-and-debt.html?_r=1&smid=tw-nytimeskrugman&seid=auto 4 comments politics
- Krugman: " The real question facing America ... isn’t whether we’ll trim a trillion here or a trillion there from deficits. It is whether the extremists now blocking any kind of responsible policy can be defeated and marginalized. http://www.nytimes.com/2011/08/08/opinion/credibility-chutzpah-and-debt.html?_r=1&partner=rssnyt&emc=rss 586 comments politics
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