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View Full Version : US Credit downgrade discussed on Ben Swann Reality Check tonight




sailingaway
04-18-2012, 05:37 PM
Ben Swann ‏ @Fox19BenSwann
Reality Check tonight... U.S. credit has been downgraded again.. is anybody in Washington listening? What this means for you tonight at 10

TheTexan
04-18-2012, 05:39 PM
Romney has promised to balance the budget by 2020. Everything is going to be fine. :rolleyes:

Lucille
04-18-2012, 05:48 PM
I read about the Egan Jones downgrade on ZH on the 5th (http://www.zerohedge.com/news/egan-jones-downgrades-us-aa-aa-outlook-negative), but he's got to be the only one talking about it on the MSM, or even the blogs "left" and "right." Remember all the fuss the last time? This time, there's been nary a peep.

US debt gets downgraded but is ignored again, until the big gun fires (http://www.economist.com.na/editors-desk/921-us-debt-gets-downgraded-but-is-ignored-again-until-the-big-gun-fires)


A while before Standard & Poors rating agency downgraded US government debt last year August, another ratings agency, Egan Jones, had already done so. Egan Jones Rating Company is not an obscure backyard operator, but its opinion does not carry the same weight as that of S&P. So the markets hardly noticed this event, and it was not mentioned widely in financial publications.

rockerrockstar
04-18-2012, 06:17 PM
Yeah if the balancing is not even in his term then how can he say he will balance it.

Lucille
04-19-2012, 11:37 AM
The Porn Addicts Formerly Known As The SEC Take Their Vendetta With Egan-Jones To The Next Level (http://www.zerohedge.com/news/porn-addicts-formerly-known-sec-take-their-vendetta-egan-jones-next-level)


This is so pathetic, it is beyond words:


US SEC EXPECETED TO VOTE ON POSSIBLE CHARGES AGAINST RATING FIRM EGAN JONES ON THURSDAY - RTRS
POSSIBLE CHARGES STEM FROM ALLEGED WILFUL MISTATEMENTS ON EGAN JONES' REGULATORY APPLICATION WITH SEC - RTRS

If nothing else, it explains the recent WSJ hit piece against Egan, just so it can make the public record in the SEC documentation. In other news, this will surely teach any other rating agency to downgrade the US not once (ahead of everyone else, well the S&P), but twice (and JP Morgan too).

In the meantime, the SEC still has NO IDEA what the definition of liquidity is, and continues to refuse to take ANY action against High Frequency Trading, to press criminal charges against ANY banker, or for that matter, to do anything that may jeopardize its staffers future careers as 7th assistant general council at assorted bailed out Wall Street firms.

Now we wait to hear news that Fitch and Moody's will receive a cash bonus from the SEC for not downgrading the US properly filing their
regulatory applications.

More at the link on the porn addicts at the SEC.

ETA:
http://www.youtube.com/watch?v=LwghayqlaYs