Calling S&P Amateurs not a good idea They just downgraded Freddie and Fannie

Discussion in 'Politics' started by tinydancer, Aug 8, 2011.

  1. tinydancer
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    tinydancer Diamond Member

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    What the hell was the White House thinking letting everyone go around flapping their mouths off?

    The bullying tactics of this White House is going to cause more and more people to fight back.

    How unfreaking professional. But what else is new. And this is a really dangerous game these punks are playing.

    S&P cuts Freddie Mac, Fannie Mae

    Standard & Poor’s cut Freddie Mac and Fannie Mae’s long-term ratings one notch on Monday.

    S&P said the downgrades from the top-notch Triple-A were due to its lowering of the U.S. sovereign credit rating late on Friday.

    “The downgrades of Fannie Mae and Freddie Mac reflect their direct reliance on the U.S. government,” the rating agency said.

    © Thomson Reuters
     
  2. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    But.. but.... Bawney Fwank said they're in fine shape!
     
  3. 8537
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    8537 Senior Member

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    if the federal government gets downgraded, every entity reliant on it obviously gets downgraded as well.
     
  4. Trajan
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    Trajan conscientia mille testes

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    link please?


    and if true this was waaaaay over due too, they just asked for another 5 Billion, not very newsworthy was it? :lol:

    IF they Moody's S&P and Fitch had done there jobs they would have downgraded F&F around oh, 2004 when word got out Franklin Raines' had been cooking the books.
     
    Last edited: Aug 8, 2011
  5. tinydancer
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    tinydancer Diamond Member

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    Here's the garbage that the administration spewed that I am referring to. Really BAD decision to attempt to beat them over the head with this. Moronic. I'm running out of freaking words.

    The US Treasury and the White House launched an unprecedented attack on the "credibility and integrity" of Standard & Poor's for its decision to downgrade the US's credit rating, blasting the agency's "misleading" calculations and its "breathtaking" refusal to change its mind.

    The furious assault, in a memo posted on the Treasury website by a senior official, came just hours after S&P had stripped the US of its coveted AAA credit rating, blaming political deadlock in Washington.

     
  6. 8537
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    8537 Senior Member

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    That "assault" had nothing to do with the decision to downgrade the GSE's.
     
  7. Claudette
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    Claudette Gold Member

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    Freddie and Fannie should be done away with before they cost us another few billion next year.

    Jesus the Clowns are such fools.
     
  8. Ravi
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    Ravi Diamond Member

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    So you are saying S&P is doing this to be vindictive. Interesting.
     
  9. Trajan
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    Trajan conscientia mille testes

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    :eusa_eh:really?

    anyway, waaaay overdue.
     
  10. tinydancer
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    tinydancer Diamond Member

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    Sorries

    Link to reuters:

    S&P cuts Freddie Mac, Fannie Mae | Investing | Financial Post
     

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