August 9th, 2011 → 6:52 am @ Lea // No Comments

“He that filches from me my good name
Robs me of that which not enriches him
And makes me poor indeed.”  – Othello

Standard & Poor’s downgraded U.S. debt from AAA to AA+.  At least they admitted that the call was motivated primarily by political calculations, not economic ones.  Still, I think they are just trying to make up for giving such loose ratings before the crash.  Basically, I think they are a rather poor rating agency and I wouldn’t put much stock in their opinion.