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Standard & Poor’s Ratings Services Responded to the U.S. airing its Dirty Laundry to the World!

Interview with John Chambers

For every action . . . There is a reaction! S&P’s reacted to the United States action or lack thereof in respect to the issue of raising the debt ceiling and wondering why it did took so long to come to a consensus on the obvious.

To state the fiscal soundness and stability of a business or company on national television is a bold stance, while at the same time a power statement. However, to consistently disagree with such vengeance, day after day, and demonstrate the lack of consideration and respect for each other, and the obvious, tug of war over preconceived power, along with “I’ve made up my mind and I’m not changing it mentality” has resulted in a down-grade of U.S. pristine AAA rating to AA+ and has shaken the very foundation of what the United States stands for.

And yet! The arguments and /or disagreements continue to this day. Don’t be fooled too think that it really doesn’t matter because the U.S. AAA credit ratings still remain strong with Fitch and Moody Credit Reporting Services at least until the end of the month.

If the S&P’s report didn’t matter then why did the stock markets plunge 634 points in one day and the dollar lost ground against the Japanese Yen and the Swiss Franc?

And why did S&P also downgrade Fannie Mae, Freddie Mac, and Farm Lenders, then proceeded to downgrade three major clearinghouses that execute trades in stock, bond and options, along with downgrading 10 of the nations Federal Home Loan Banks.

Quoting from the infamous Judge Judy. “Don’t Pee on my head and tell me it’s raining!”

Can we talk for a moment People! Saying or even thinking that the non-stop bickering over the debt ceiling is over, means either that you’re in serious denial or you’ve lost touch with reality. It’s about as over as saying the recession is over, yet people are still unemployed or under-employed if you’re lucky to have a job, still losing their homes, still without health insurance, still without enough food to feed their families, still without hope and unfortunately some are even losing their sanity.

Yea! The recession is over in your mind … if you say it enough times, you may actually believe it! Just like the war in Afghanistan is over. Yea! Right! People it’s time to “wake-up!” Can we talk?

S&P managing director John Chambers got it right! Just look around you. Yes! Right where you are! And tell me what you see and then tell me S&P got it wrong!

Sometimes the truth hurts… Ill respective of who the messenger is!


August 9, 2011 - Posted by | Business News | , , , , , , , ,

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