Just When I Thought I'd Seen It All !

[counter_violent]

This is a bit rich coming from the US Govt.

Priceless !

BBC News - Standard & Poor's expects lawsuit over subprime ratings

 

[Trader333]

Well it could prove quite interesting because if the US government win then it technically opens the floodgates for similar action from UK banks that got hit by the same thing.

 

[Billy Gates]

It will be interesting and a good move by the Government. If the government win then it should send out a clear message that corporates have to face some responsibility, rather than focus purely on profits.

If a Company like Standard and Poors wishes to play at a Government level then they should ensure they have done all the due diligence or work to ensure their information is correct.

If the ratings had been dropped what precautions, if any, could have been taken?

 

[counter_violent]

I rather hope these ratings agencies exact their revenge by downgrading all these profligate spending govts.

 

[wackypete2]

It will be interesting and a good move by the Government. If the government win then it should send out a clear message that corporates have to face some responsibility, rather than focus purely on profits.

If a Company like Standard and Poors wishes to play at a Government level then they should ensure they have done all the due diligence or work to ensure their information is correct.

If the ratings had been dropped what precautions, if any, could have been taken?

What about the government? No responsibility there? The rating agency is a private company that eminates their opinion(s). They set no policy, make no investments, enact no laws, collect no taxes. Even if they were paid by corporations to place certain ratings that's nothing more than ordinary business.

Peter

 

[new_trader]

It will be interesting and a good move by the Government. If the government win then it should send out a clear message that corporates have to face some responsibility, rather than focus purely on profits.

If a Company like Standard and Poors wishes to play at a Government level then they should ensure they have done all the due diligence or work to ensure their information is correct.

If the ratings had been dropped what precautions, if any, could have been taken?

C'mon!

How's this for a better headline: US Government sues the only rating agency that had the courage to downgrade US debt rating.


http://news.uk.msn.com/world/agency-downgrades-us-debt-rating-1

 

[wackypete2]

C'mon!

How's this for a better headline: US Government sues the only rating agency that had the courage to downgrade US debt rating.


Agency downgrades US debt rating - MSN News UK

haha...excellent. I never thought of it that way!

Peter

 

[neil324]

Whats the problem.

The UK government can run a 8% primary deficit funded again by the BOE.

Rock solid AAA+ for sure.

Gilts are as safe as houses, you can't go wrong with bricks and mortar.