Posted on 08/08/2011 7:50:32 AM PDT by STARWISE
Credit rating agency Standard and Poor's on Monday downgraded the debt of mortgage finance giants Fannie Mae and Freddie Mac. The downgrades to AA+ are part of the continued fallout from the agency's decision to drop U.S. sovereign debt to AA+, an unprecedented move that rattled investors and sparked concern over the long-term impact of the action
It was widely expected that S&P's downgrade of U.S. debt would roll downhill to other entities that are closely linked to the federal government.
(Excerpt) Read more at money.cnn.com ...
And we thought the feds would keep the market from tanking this much...
Good post.
Couldn’t happen to more deserving organizations.
obama’s sinister plan is right on schedule.
|
And, if .. PLEASE God .. there ARE elections.
I have never been more angry in my life and I see people around me completely stupid. They can name the cast of Jersey Shore or Glee but couldn't tell you a thing about the debt.
Thanks STARWISE.
You obviously never spent time on the Eats - West German border.
All because of the tea party, right?
S&P ratings are a bit of a joke. These are the same guys who kept saying that the worthless bundled mortgages that Wall Street all over the world were AAA. They have a full share of the blame for the worldwide financial meltdown.
Not to say the US isn’t in bad shape, but who cares what these losers have to say about it?
I told a guy today that I was sorry, I considered him a friend and I wouldn’t want to see it happen to him, but when we take back over there are going to have to be a LARGE number of people locked up, many of them indefinitely, and I didn’t want to see him be one of them.
I was in Home Depot the other day and needed some wire cut. The guy says he has what I needed but kept fussing with a couple of spools of wire instead of moving the big automated vending machine track to get mine down. I’m standing there patiently and he says out of the blue, “this is going to be the problem with living under socialism.” I said, what? He said, it’s like if you have two cars and one’s going 5 mph and the other is going 100 and you put’em on the freeway. It ain’t gonna work.
So, I’m still going what? And he says, You are the customer, you need some wire. But you see I’m not getting you your wire, I’m still messing with this other spool. And I’m messing with this spool because the guy at 5:00 last night couldn’t be bothered to do his job right and wrap the wire back up after he cut some. And that’s socializm.
We had a long talk after that. Turned out to be retired Navy, had a little different work ethic than most of his colleagues now. He’ll be running that store in a year I bet.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.