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View Diary: Debtpocalypse deferred! (94 comments)

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  •  Yeah, you can still google S&P prescience on the (5+ / 0-)

    2008 fiasco

    I especially like the part

    The pullback makes Bear Stearns ``less exposed to further deterioration in subprime-related asset valuations,'' according to Dominion Bond Rating Service, a smaller rival of S&P and Moody's that kept its A (high) rating on Bear Stearns debt unchanged late yesterday. That's the equivalent of S&P's A+.

    Yep, that really worked out well for them.  A+ is still essentially a no risk investment.

    "Don't dream it, be it" - Brad, Janet and Frank

    by captainlaser on Mon Aug 08, 2011 at 07:27:52 AM PDT

    [ Parent ]

    •  The market doesn't believe S&P (1+ / 0-)
      Recommended by:

      If investors seriously believed S&P's claims that US debt is riskier than it was before, investors would sell treasury bills and buy some other asset. But they are doing the reverse: they are dumping stocks and buying treasuries.

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