From the department of "you just can't make this shit up", the giant Moody's credit rating firm has issued a "warning" about the credit-worthiness of the governments of the United States, Germany, and other European nations. The Masters of the Universe™ at Moody's warn that these countries may still be Aaa rated, but the distance to a lower rating has been "substantially reduced".
Does this make anyone else's head feel like it's going to explode, or is it just me?
As other readers surely know, Moody's was up to their Saville-suited eyeballs in issuing deceptive "Aaa" ratings for worthless "collateralized debt obligation" instruments, or CDO's, which represent the heart and soul of the Bush/Cheney economic meltdown. Moody's unctuous, smiling endorsement of these toxic financial "instruments" was absolutely essential to the process by which the Banksters defrauded millions of ordinary investors. Without those glowing ratings, these worthless paper 'derivatives' would have been...well, worthless.
And now, Moody's is "warning" the world that the governments of the U.S. and Western European nations, scrambling to clean up the economic fiasco, may not be quite so credit-worthy. Ironically this is largely due to the screwing administered to these nations with the grinning assistance of the gnomes of Moody's and other credit rating services, who stamped "Aaa" all over the Banksters' toxic waste.
It almost makes you wanna go Postal.