Buffett: S&P Downgrade ‘Doesn’t Make Sense’ (Democrat Buffett owns Moody's rating service...)

Wall Street Pit ^ | 8/6/11 | Liz Claman

[jimbo123]

Chairman and CEO Warren Buffett told the FOX Business Network that S&P’s downgrade of the United States’ triple-A credit rating “doesn’t make sense.”

“I don’t get it,” Buffett told FBN late Friday night. In fact, Buffett reaffirmed his belief in the quality of the United States’ credit telling FBN, “In Omaha, the U.S. is still triple A. In fact, if there were a quadruple-A rating, I’d give the U.S. that.”

[SunkenCiv]

Thanks jimbo123.

Funny how no one is talking about Warren Buffett and the fact that he is the largest shareholder in Moody's rating service, which refuses to downgrade Obama's debt orgy.

[YankeeReb]

There is absolutely nothing stopping Buffett from writing a big check to the U.S. Treasury. To complain that he dosen’t pay enough, and then not make any effort to ‘rectify’ it, is sheer hypocracy. In that regard, he is like any other Dem.

Of course, but he'd rather give to the Bill & Melinda Gates foundation. He knows that they're much more efficient at allocating charitable gifts then the federal gubment.
Guarantee Mr "I pay lower taxes than my receptionist" takes EVERY SINGLE tax deduction he's entitled to. Just like the Marxists he seems to support, he believes that only the little people pay taxes.

[Nextrush]

The only answer Obama and his minions have when they are blamed for the collapse is to blame the conservatives.

[BookmanTheJanitor]

http://www.cnbc.com/id/37498773/Negative_Reviews_for_Warren_Buffett_s_Defense_of_Moody_s_to_Crisis_Commission

here’s more on Buffett and Moody’s. Some of the reviews of his performance (links are provided in the above article) are scathing towards Buffett.

[RichInOC]

“A fool and his money are lucky enough to get together in the first place.”

[Eva]

Moody’s and Fitch are both being sued for the overly optimistic and unwarranted support of mortgage products. it is said that Moody’s and Fitch were largely responsible for the mortgage debacle.

Now, we have Moody’s and Buffet once again letting politics color their rating decisions.

[Darth Reardon]

Suppose this printing causes an inflation of, say, 20%. That would give the EXACT SAME result to bondholders as a government default of 20% of its payments.

That was my thought, too. Which led me to the question, "What did S&P downgrade"? I keep hearing they downgraded "the US" or "US debt", but is that accurate? Do they really have only one rating for the US?

The reason I'm questioning this (and hoping someone knows so I don't have to research), is because I'd like to know if they rate inflation protected bonds separately. In theory, I would think S&P would lower the rating of Treasuries as mentioned above, but inflation adjusted T's should remain AAA (unless they think the gov't cheats on it's adjustment).

[truthandlife]

Do you think this is a setup? They downgrade now and in October it goes back to AAA rating and Obama and the Dems say this economy is recovering and we have put all of things in place.

[Atlas Sneezed]

Maybe Warren would find more social justice in a portfolio/property tax (1% of everything you own, every year) instead of the income tax?

[stephenjohnbanker]

Good girl!! : )