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All to be expected. 1) Things are clearly less predictable now. 2) The mega banks are in bed with the central banks, of course they want to send a message.
by djschnei 10y ago
All to be expected. 1) Things are clearly less predictable now. 2) The mega banks are in bed with the central banks, of course they want to send a message.
- cm2187 10y agoYou are suggesting S&P = mega bank? S&P is more like the "What Hi-Fi?" of finance...
- r00fus 10y agoS&P is more like the "Gartner Research" for finance. I'll just leave this here: http://venturebeat.com/2011/04/07/windows-phone-beat-iphon/ http://venturebeat.com/2011/04/07/windows-phone-beat-iphon/
- djschnei 10y agoCRAs are beholden to the organizations that pay them. The megabanks pay to have their debt rated, S&P rates it. The Mega banks didn't like this move, the S&P rates it. I said the uncertainty created by this move would obviously create a downgrade, but if you don't think there is pressure from the banks to downgrade them, you're nuts.