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Is Uncle Sam Blackmailing the Credit Rating Agencies?
George
Washington's Blog
Tuesday, Dec 02, 2008
As I have previously written, based upon standard criteria, America
should lose its AAA sovereign credit rating.
Last night, at an investment talk I attended, the manager of
more than a billion dollars in investments said the same thing.
Interestingly, he asked out loud whether Uncle Sam is blackmailing
the credit rating agencies.
What does he mean?
(ARTICLE CONTINUES BELOW)
Well, the credit-rating agencies committed fraud in keeping the
credit ratings for corporations where failing too high for years.
(See this
and this).
The government could easily prosecute them criminally for fraud.
But the government wants to keep its AAA credit rating. And the
same companies that fraudulently kept corporate
credit ratings too high could keep America's sovereign
credit rating too high, if they have a little . . . incentive.
Full
article here
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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