via MSNBC
“Standard and Poor would have forfeited it’s good reputation, if it had a good reputation to forfeit these days—it having missed the entire mortgage-backed securities problem right under it’s nose. If you read what they actually said, it’s a kind of half-baked political analysis criticizing the American system of government and how it works. Now, they’re entitled to their opinion on our politics, but their opinion isn’t entitled to any particular respect.”
“This is the United States of America. No matter what some agency might say, we’ve always been and always will be a triple-A country.”
“The point is that when S&P or Moody’s speaks, that’s not the voice of “the market”. It’s just some guys with an agenda, and a very poor track record. And we have no idea how much effect their actions will have.”
