Are credit rating agencies credible?

Recently Standard & Poor's downgraded the US' credit score, but people are wondering if this downgrade really means anything? These same agencies gave Lehman Brothers and Bear Stearns excellent credit ratings. What drives the interests of these credit rating agencies? Do they have their own agenda? Karl Denninger, from The Market Ticker, gets to the bottom of this.


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[crackerwv]

I can answer that in two word. FUCK NO. These are the people that BOOSTED the very same banks and agencies on WALL STREET that have RUINED THE ECONOMY. How the HELL could the POSSIBLY be CREDIBILE? They are like the MEDIA. Their CREDIBILITY is SELF-ISSUE in order to CONTROL and EXTORT the money supply/commodities and steal the sovereignty of nations through the IMF and World Bank. ANY WB or IMF representatives that DARE step into ANY country should be ARRESTED ON SIGHT and TRIED FOR TREASON.

[wtf0804]

Are credit rating agencies credible? Did Putin 'discover Greek urns' on scuba dive?

You decide

[bammbamm12]

@Crow22Darkness - Correct. But they don't care. Like a person on the verge of bankruptcy with a stack of credit cards, it's "boogie till you puke".

[Crow22Darkness]

@bammbamm12 yeah but was that do? it causes Major Inflation and its makes the U.S Dollar Totally Worthless.

[bammbamm12]

OK, here's the most likely scenario. S&P gets wind that the Feds are going to investigate them. So S&P downgrades the US. Now they can make the investigation look like it was a retaliatory action conjured up with malicious intent. It's the only thing that makes sense - because say what you might, the US Govt should be the last financial body that should be downgraded - they can at least print their way out of any jam - no one else can.

[tsharpmac420]

@liderlider i dont give a fuck i have 100 pounds of weed stored in a fallout shelter in my backyard, i have nothing to worry about

[rpnp1]

ronpaul2012

[liderlider]

@tsharpmac420 A new downgrade is coming to usa debt ..Max keiser told this about 1 week = WW3 is coming .This is not a joke ..Rusia is the superpower with more nukes of the whole world and more tanks than Usa and Europe together .THIS IS IT !!! .. This is called " Apocalypse"

[liderlider]

A new downgrade is coming = Max keiser told this about 1 week ..Usa is BROKE and the world is BROKE too ..WW3 , WW3 , WW3 , WW3 ..