Sunday, August 07, 2011

Who the Eff are Standard & Poor's?

Explainer: Your 5-minute guide to the S&P, U.S. credit rating and why it matters | Poynter.


Standard & Poor’s gave its first credit rating to the United States in 1941.
Standard & Poor’s gave its first credit rating to the United States in 1941. The AAA rating matched the one given previously to the government by S&P’s predecessor institutions, Standard Statistics and Poor’s Publishing. It temporarily downgraded the outlook to “negative” following the attack at Pearl Harbor.
It temporarily downgraded the outlook to “negative” following the attack at Pearl Harbor.
The credit rating is Standard & Poor’s opinion of a creditor’s ability to meet its financial obligations, including its debt.


…the government won’t be the only one paying higher interest rates. Consumer loan rates usually follow the government’s rates so interest rates on car, home and student loans could increase as well. This increase would be a bitter pill for an ailing economy to swallow.
History shows that Standard & Poor's stands ready to denigrate America for the worse possible reasons at the worse possible times.

I can barely believe they lowered oUr rating after Pearl Harbor. They must view 9-11 as a missed opportunity.
con·cept: Who the Eff are Standard & Poor's?