But this will effect all who goes for a Bond offering and need a rating and now the ratings agencies do not want the liability.
Oh, so then they would have to turn to the govt. for bonding?
How is that "unintended"?
“But this will effect all who goes for a Bond offering and need a rating and now the ratings agencies do not want the liability.”
Yep, yesterday my electrical contract company lost three future projects because they “lost funding!”
Basically, if the planners do not have 100% of the money for the project, they either dropped the project or put it on hold because they won’t be able to guarantee funding without a rated bond! DUH!
This is going to hurt almost every industries most likely immediately! But here is the kicker! Watch the MSM and Dems go after the American public with the claims that the “haves” are “hoarding their money and causing the economy to slow down!” Anyone want to bet? They have already made these statements, but I bet they get bigger and louder!
I can see it now: “Rich Republicans are hoarding more money to slow economy in an effort to help their election chances in November.”
If Frank'nDodd's result was to create confusion and angst within the bond rating agencies, it's obvious the agencies will need additional "guidance". From the federales of course -- via additional regulation or legislation. Whatever these red bastards do is designed to create dependence on the feral government. First, create a problem; then offer a government solution -- to fix the government created problem. Round and round we go! Good work if you can get it.