Tag Archives: Investment Banks

Fool me once . . . fool me twice . . .

But S&P said . . . oh shit!

So the wise men who issued peachy pluperfect ratings to all those investment banks awash in credit default swaps in 2008 –  gushing, my dears, just gushing about a brilliant future mere days before Lehman bit the dust – have now passed judgement on the credit worthiness of the United States of America. And they’re being taken seriously.

Judging whether the downgrade is warranted or not – well above my pay grade; I haven’t a clue. But I will venture to ask . . . WTF??