S&P’s move should send shivers throughout the DC (pronounced Dizzy) circle we call Washington. Unfortunately, the politicians are so blind and incompetent in their ability to do what is needed, the matter is only going to get worst. S&P gives the government a hard whack in the head with a heavy hammer, and the fools are still clueless: always blaming someone else. Are there no mirrors within the Dizzy Circle?????
H
“Are there no mirrors within the Dizzy Circle?????”
There are ‘mirrors’ but not the glass type you’re thinking of. Instead they are fawning lobbyists, toady congressional staff, and self-interested agency heads that tell them what they want to hear and enable these clueless fools.
BUt why are Moodys and another rating agency not also joining in? I suspect some play from geitner involved here. The crisis they didn’t want but really want?