Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Land Shark who wrote (99148)	8/7/2011 6:17:00 PM
From: ChinuSFO	Read Replies (2) \| Respond to of 149317

Why not let others do the job instead of his DOJ. If the market does not take notice of their downgrade tomorrow, then that itself is a nail in their coffin. I am waiting to see how Asia reacts when they open in a few hours from now. Judging from the opinions in the Australian newspapers, I have a feeling the Australian market will ignore the downgrade.

To: Land Shark who wrote (99148)	8/7/2011 7:21:05 PM
From: tejek	Read Replies (1) \| Respond to of 149317

I think this may backfire on the S&P. S&P fights to save reputation as markets hold their breath White House attacks $2 trillion 'error' of credit rating agency after US downgrade independent.co.uk Geithner Rips S&P for 'Really Terrible' Move on Downgrade cnbc.com

To: Land Shark who wrote (99148)	8/8/2011 12:48:16 AM
From: Neil H	Respond to of 149317

Re S&P The downgrade does seem odd. Here are Mauldins comments which seem to ask some reasonable questiosn "So, if the Fed, which doesn’t issue credit and can print money, can be downgraded because it holds AA+ debt, then why and how in hell can the ECB, which holds hundreds of billions of euros of the junk debt of Greece and Ireland and insolvent banks not be downgraded on Monday? And the Bank of Japan? REALLY? What are these guys smoking? Do we now downgrade GNMA? Of course. And the FDIC? What the hell will repos do on market open? The NY Fed says it won’t affect anything. Don’t ask me, I just work here. And how can you rate France AAA? And still give AA or more to Italy when the market is saying they are getting close to junk?" It appears that the S&P has not been consistent in their ratings. Neil