RE: Unlike Moody’s and Fitch, S&P embarrassed President Obama ahead of his re-election bid by downgrading U.S. debt to AA+ from AAA
And unlike Moody’s, Obama buddy, supporter, and tax hike enthusiast, Warren Buffet doesn’t own a huge chunk of S&P.
There is no Moody or Fisk 500 index. There is an S&P 500
Contrary to the article, the president has now picked a fight that will be lost with the next downgrade. Unlike the Peter Schiff toady, S&P has real power.
The president was foolish enough to bring a lawsuit to a treasury downgrade fight
Ain’t no smacking involved. This is pure balls to the wall get evenness.
What would happen if as a result of this attempted shakedown, all these “ratings Agencies” just FLAT OUT REFUSED TO RATE ALL GOVERNMENT DEBT?? Which is precisely what they should do IMMEDIATELY. Watch this lawsuit evaporate post haste.
A socialist using selective enforcement of the law as a weapon against those who oppose him? Inconceivable.
Lord knows how many more of these vendettas 0banana has up his sleeve to distract attention away from hot issues like Benghazi, drone killings and F&F. He just orders Holder to have them cued up for the media when the need arises.
The risk of downgrades is higher interest rates for federal borrowing, right? You can see what a huge threat this is to Obama. Higher interest rates would be put the kibosh on his whole debt-based megaspending and redistribution project. Higher interest rates would stop him more surely than the Republican House can. It’s no wonder Obama would go all Chicago on S&P. They dared put a finger on his Achilles heel.
S&P needs to name Obama as a witness, and notice his deposition. How long would it take for the suit to be dropped. You know he won’t sit under oath. The last President to give sworn testimony got hit for $800,000+/- worth of perjury and was a laughingstock for trying to redefine the word “is”..
The little napolean bastard needs a blanket party.
S&P is paying the price for honesty,something he doesn’t allow because it can spread if left alone.
anybody know how this turned out?