Submitted by bizgrrl on Mon, 2010/02/08 - 1:16pm
Bond rating agency Moody's on Wednesday warned that the triple-A rating of U.S. treasury bonds could be in peril unless the U.S. reduces its federal budget deficit or the economy rebounds.
"Absolutely not," Mr. Geithner said in an interview with ABC News's "This Week" when asked about the prospect of the U.S. losing its top rating. "That will never happen to this country."
Why does Geithner not give me confidence? Why does Moody's want to manipulate the economy with scare tactics?
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Geithner
Why does this not give you confidence?
Maybe because you realize that the ghost of Paul Volcker visited Congress Present last Tuesday.
crickets:
Moody's. Hmmm. Isn't that one
Moody's. Hmmm. Isn't that one of those bond/credit rating companies that gave AAA ratings to subprime mortgage backed junk bonds?
Isn't that one of those rating companies that gets paid by bond issuers to rate the issuer's own bonds?
Oh, wait. I believe it's also one of those rating companies that Congress is talking about regulating the hell out of, and, among other things, make it easier for investors to sue them for negligent bond ratings.
yup
exactly what I was gonna say.
Just in case there are
Just in case there are readers that see what we're saying as cryptic:
Geithner and Obama can talk about cracking down all they want, but Congress has to act. If Congress doesn't "regulate the hell" out of Moody's, Moody's will stop threatening to downgrade the AAA rating of US treasury bonds and continue to enjoy privatized gains and socialized losses. Congress (mostly the Senate, there are many good Reps) works for them, not you, and you know how they're going to "act".
That "hope-y change-y stuff" has some more work to do this year when voting for Congresspeople.
and it's not just Moody's
Bankers threaten to once again fund the GOP if Obama continues saying mean things about them
Cornyn is not up for reelection until 2014. Attention Texans: If you are a real person and not a puppet, you have 4 years to drum up support while teaching yourself the things you need to know to do a better job than him as a Senator. Please consider running as a Democrat.
yup...
"mostly the Senate.."
It's not even all of the Senate, only 5 or 6 conservatives wearing the Democratic label that have stalled reform on every single issue. You could blame the Republicans I suppose which vote as Rush dictates but hell, there are 59 Democrats so the Democratic Party will take the fall this November. I just wish when folks would blame "Washington" or "Congress" for inaction, that they would be more specific as to the institution and a very few members in that institution. It's the Senate and its undemocratic, extra-constitutional rules that are hurting this nation as much as Wall Street, probably even moreso.
know any Democrats in
know any Democrats in Nebraska?
"Someone needs to break these
"Someone needs to break these guys." -Yves Smith
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