Yeah, is this going to be a long slide, or will the rating hold steady where its at. Funny timing – releasing the downgrade after the work week / trading bell rings and ends for the day/weekend.
I have to believe word got out Thursday, and it drove stocks down.
I agree SDR with your comment on EP’s point. Also, one of the issues which landed us here is that the ratings agencies werent’ doing their jobs. Now that they know they must call a spade a spade, they are. (By the way, loving the house finally, and the little guy is awesome!).
The gyrations congress went thought and basically postedponed going through is a dance to appease us, the fooled. (okay, maybe not this audience per se, but the American public. )The real entertainment will begin when the appointed panel has to really begin slashing. We definitely have a lot of areas we can begin reducing – Military spending being one of them. But the real issue is that congress doesn’t work for us, they work for big business and big money – all of them. Only the fledgling Tea baggers might be relatively well meaning in all this. But, the Rep/Dem’s all get campaign funds from organizations with deep pockets and whom want something for their donations. What’s good for the general public only becomes important when its demise threatens to take everyone down. But, by waiting until now, the cure is comparable to the poison.
Timely quote from Geithner in light of the downgrade, if it wasn’t so tragic it would be funny. Okay, its funny. But, still tragic.
