S&P is the free market

let the private sector decide!
all libertarians should LOVE Standard and Poors.
AAA rating. UBETCHA! whatever they say, as long as it doesn't have big government CONTROL.
wake up DUMMIES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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News & Politics

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[atchisrj1]

One private company does not a free market make.

[LouieArrighi]

@atchisrj1 it's the big bad government HUH?

[LouieArrighi]

@atchisrj1 yeah, the free market decided that subprime loans were rated as awesome, legitimate, and just plain trustworthy. big bad government sat on the sidelines for that. they weren't the referees. big bad government just let the private sector determine what's best. the nanny state wasn't the nanny. they let the high rollers play with our money. we trust in S&P! (sarcasm intended)

[atchisrj1]

@LouieArrighi "The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive..."

[LouieArrighi]

@atchisrj1 the PUBLIC Central bank or the PRIVATE Central Bank? a private bank's loans are based on ratings from a private corporation. the PRIVATE Central bank, the deregulation of government involvement, the ratings agency and the private bank, the private Central bank all feed off each other to justify that everything is just fine. government officials CANNOT get in trouble, because they are not involved. the Public employees are all ex-PRIVATE bankers with their hands tied due to deregulati

[TheMidnightRider11]

I've been thinking the same thing, It's Amazing how we as Private citizens have our whole life..(Credit) and finiancial wise controlled by the reporting of Private companies...And now we have the entire Obama administration telling the World to Ignore what S & P has to say about our nations credit...So what is the difference?...I Ask..

For the first time in History our "Credit Rating" has been reduced....And their point is what?.....Here's an Idea...END ALL AID and use that money for us!!!!

[LouieArrighi]

@TheMidnightRider11 Hell Yeah Charlie! I agree with that. I also believe we should put all welfare recipients to work, just as Guiliani did in NYC while their kids are in school, or even have them watch other kids. there are a lot of possibilities on that. I do agree with the Welfare to Work Program. not sure whatever became of that though.

I also believe borrowers need to put 20% down on a property if they plan on purchasing. I think that would be great for our economy.

[55ella2007k]

@LouieArrighi  The Welfare to Work program was a sham. Sure, it got people off welfare, but you cannot support a family, nor even live on your own, on minimum wage jobs without health insurance or other benefits. What happened was that corps like Walmart hired those former recipients at sub-standard wages, often part-time, and now 1 out of 6 Americans are on food stamps. So, the entire 'program' made a bad situation even worse.

[55ella2007k]

Finally somebody get's it! Yes, you are correct. Shit, they gave Lehmann triple AAA rating until the day they failed, same with Enron. The are NOT a disinterested party in all of this, let alone a neutral agency of some kind. Good vid... you're on a roll lately, Louie!

[zsylvana]

@atchisrj1 Do you really think that Standard & Poor's downgrade of U.S. debt would have occurred unless there had been the Congressional stand-off on raising the debt ceiling? So there is one other lesson to be learned here.

If S&P really has that much influence,Free-Financial Markets are hardly efficient at all- note its enormous arithmetic mistake of $2 trillion — by S&P!The credit ratings agencies gave Enron a high rating before it became the biggest bankruptcy of all time.Wake up!

[NigelCrommwell]

Again...Zion at work!! I know it gets old...but the truth.......Our only hope is that Pakistan will nuke India and create a market for war technology.....It sux but Garmonbozia (Google it) levels the the Karmic playing field !!

[crackmonster99]

It's funny how the other 2 agencies still have it at AAA.

[atchisrj1]

@LouieArrighi It's a private central bank the Federal Reserve is. And that is the problem, before the Congress handed off their responsibility to this private bank on monetary policy we did not have this problem with corporations and inflation like today. Fractional reserve banking is a corrupt system feed by the Federal Reserve. Reserve Banking is one of the biggest causes of the bubbles and crashes. S&P feeds off of this system.