I didn’t realize that anyone paid attention to the ratings agencies like S&P after they rated trillions of junk mortgage securities as AAA.
In most cases it is a matter of law. Some governments (state, county, local) have laws that state that they can only buy securities that are rated AAA. In other cases they must sell if the rating drops.
someone has to do it. *snicker*
Just bundle the US up into junk securities. ...Never mind, that’s what has been done. Borrow some imaginary money, and do it some more, and more, until someone figures out how to get back to reality. Doesn’t look like we have many of those someones in Washington.