I still want an apology before I will even consider it. A VP at the ratings agency that is anything but independent said in an article on Politico by Bobby Cervantes that "[t]he rating agency expects that further fiscal measures are likely to be taken in coming months that would result in lower future budget deficits which are necessary if the negative outlook on the government's bond rating is to be returned to stable[.]"
Well I for one am glad that those on Wall Street have faith in this Congress but I still really do not care what they have to think since it was the ratings agencies that had the opportunity to properly rate the mortgage securities that led to our recent recession and poor economic climate and instead put their stamp of approval on them and made the situation worse. Until these ratings agencies are independent of Wall Street (not owned by a publicly traded company and our true not for profits) and are truly impartial I can not take them seriously.
Further Reading:
-http://www.politico.com/story/2013/01/moodys-us-must-tackle-deficit-85709.html?hp=r2
Well I for one am glad that those on Wall Street have faith in this Congress but I still really do not care what they have to think since it was the ratings agencies that had the opportunity to properly rate the mortgage securities that led to our recent recession and poor economic climate and instead put their stamp of approval on them and made the situation worse. Until these ratings agencies are independent of Wall Street (not owned by a publicly traded company and our true not for profits) and are truly impartial I can not take them seriously.
Further Reading:
-http://www.politico.com/story/2013/01/moodys-us-must-tackle-deficit-85709.html?hp=r2