Get Serious

Credit rating agency Moody’s Investors Service has warned that the United States and Great Britain may have their triple A (AAA) credit rating jeopardized due to “deteriorating public finances.” Are they serious? This is the same group that rated subprime slime triple A (AAA), and the same group that got paid by the underlying issuer, as opposed to an independent third party. They bluster after the horse has left the barn.

However, the real issue could be the country of Greece, whose potential bond defaults could lead to a cascade of other countries following suit. Yes, major trouble might be on the horizon, and yes, the U.S. financial position is bad. But for the sham ratings agency to acknowledge it now makes their actions ludicrous.

Till next time,

Bill

P.S. – Don't forget to listen to “It’s All About Money” right here on billtatro.com.


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