One can assume that the immediate shutdown of the US economy wwill be accomplished by this bill, which is like a “kill” button.
All credit and bond markets function on issued ratings. If ratings are not issued...everything stops. Ratings ARE NOT being issued!! Right?
Extend beyond the bond and credit markets to the insurance markets. No CONSTRUCTION PROJECT, not 100% financed, can be originated or continue without INSURANCE, and, no insurance can be issued without bond and credit ratings.
Result....economic shutdown...period. NO?
“If ratings are not issued...”
D&*n those Big Bankers! All they care about is money!