USA Credit Rating Down Graded! Thanks!!

[kygorski]

Where were those rating agencies several years ago, when those questionable mortgage packages were being foisted on half the worlds economys? That may have signaled a questionable practise was being pushed by the biggest lending and brokerage houses? So now the banks that we bailed out, are going to raise the cost of borrowing money.Yes he sat on his hands,so did congress.Of course now the big oil companys will say they have another valid reason to raise prices on gasoline.

[pontooner]

Where were those rating agencies several years ago, when those questionable mortgage packages were being foisted on half the worlds economys? That may have signaled a questionable practise was being pushed by the biggest lending and brokerage houses?

They were giving those guys AAA ratings and still are I think.



Anyone besides me think this might actually be a good thing?

I mean maybe now both sides will have to do a better job of working together, that means not saying no to new taxes, not saying no to cutting entitlements, put an end to the grandstanding............. Actual get crap done like adults from here on out.

Then again I'm probably giving them to much credit for being smart enough to figure it out.

[RoadToad]

They were giving those guys AAA ratings and still are I think.

Anyone besides me think this might actually be a good thing?

The AAA rating of Fannie Mae and those other companies will probably drop, too, as a result of the country's rating dropping. But in the long term we may end up better off. At least, I don't see it as the catastrophe some are making it out to be. We didn't get downgraded to "junk" status. We're still considered a good credit risk. And S&P isn't the only rating agency out there. Canada and Japan's economies grew 15% and 25%, respectively, in the 12 months after they got downgraded back in the 90's. No, I'm not saying it's a "good" thing, but it's not the end of the world.

[pontooner]

The AAA rating of Fannie Mae and those other companies will probably drop, too, as a result of the country's rating dropping. But in the long term we may end up better off. At least, I don't see it as the catastrophe some are making it out to be. We didn't get downgraded to "junk" status. We're still considered a good credit risk. And S&P isn't the only rating agency out there. Canada and Japan's economies grew 15% and 25%, respectively, in the 12 months after they got downgraded back in the 90's. No, I'm not saying it's a "good" thing, but it's not the end of the world.

Yeah I probably should have worded it a little differently than I did. Was just thinking maybe this will be the smack in the face we needed to wake us up.

[DJD]

Yeah I probably should have worded it a little differently than I did. Was just thinking maybe this will be the smack in the face we needed to wake us up.

I watched John Kerry and McCain talking yesterday about this and they were both blaming the others party.
I shook my head and thought we are in trouble.

[GeoFisher]

The AAA rating of Fannie Mae and those other companies will probably drop, too, as a result of the country's rating dropping. But in the long term we may end up better off. At least, I don't see it as the catastrophe some are making it out to be. We didn't get downgraded to "junk" status. We're still considered a good credit risk. And S&P isn't the only rating agency out there. Canada and Japan's economies grew 15% and 25%, respectively, in the 12 months after they got downgraded back in the 90's. No, I'm not saying it's a "good" thing, but it's not the end of the world.

Man, you CALLED it..............Fannie and Freddy were downgraded about 30 minutes ago.

AND you're also right about DEVELOPING economies......but we're not supposed to be a developing economy....

I hope it is not too painful today........

300 pts and still falling......but there are some players making BIG moves today..........if you have huge ones, there is money to be made.

[HURRICANEBOB]

AND you're also right about DEVELOPING economies......but we're not supposed to be a developing economy....

JMO, but at the point we stop developing, we stagnate, and we drop like a rock.

[Tom523]

Thank You Tea Party for standing your ground! Where can I sign up? I'll even set up a regular payment plan to support you!

[Devils Horse]

Thank You Tea Party for standing your ground! Where can I sign up? I'll even set up a regular payment plan to support you!

Amen brother.

[mhall]

amen brother.

a second amen!!!!!!!!!!!!!!!!!!!!!