Tag Archives: S&P

S&P: “Our Forecast Didn’t Hold” Because the GOP is Insane

The GOP Government Shutdown of 2013 may end tonight, but plenty of damage has already been done. Standard & Poor’s calculates that the shutdown that has so far lasted just over two weeks has taken $24 billion out of the … Continue reading
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Posted in Congress, Economy | Tagged , | 4 Comments

More on the DOJ’s $5 Billion Lawsuit

Bloomberg has more details on the Justice Department’s $5 billion lawsuit against Standard and Poor’s. Federally insured Citigroup’s Citibank unit bought into what was supposed to be the safest portion of the CDO, relying in part on S&P’s assessment of … Continue reading
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Posted in Justice | Tagged , , | 1 Comment

The Tar Pit

Artist – Pat Bagley In other news, the House of Representatives voted today by a margin of 253 to 167 to require that President Obama choose a date to balanced the federal budget. As if that’s something you can plan … Continue reading
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Posted in Congress, Immigration, Open Thread | Tagged , , , | Leave a comment

Liberty Gap

Sadly, this is almost a direct representation of reality. Or soon will be. Artist – Pat Bagley In other news, U.S. stocks hit 5 year highs today. Because socialism. Also — check out these mind-blowing photos of what happens when … Continue reading

Posted in Open Thread | Tagged , , , , , | 3 Comments

If It Smells Like A Fish and Looks Like A Fish

It probably is a fish. WASHINGTON — The internal procedures of one of the world’s top three ratings agencies appear to allow leaks of its decisions, according to a report by the US Securities and Exchange Commission (SEC). At one … Continue reading

Posted in Economy, Uncategorized | Tagged , , , , , | 1 Comment

Zero Credibility

Part of me believes the gross dysfunction of our Tea Party congress does actually warrant closer scrutiny by our banking overlords, but with that said, things like this make it increasingly difficult to take Standards & Poor’s seriously. Influential investors … Continue reading

Posted in Epic Fail | Tagged , , , | 12 Comments

The Latest From Wall Street

Artist – Dave Granlund In other news, the president of Standard & Poor’s stepped down today and will be replaced by Citibank’s current chief operating officer Douglas Peterson. S&P is currently under investigation by the Justice Department for its role … Continue reading

Posted in Open Thread | Tagged , , , | 9 Comments

Rick Perry’s Church and State

Artist – Monte Wolverton In other news, the Securities and Exchange Commission has launched an official investigation of S&P’s decision to downgrade the U.S. credit-rating, and former Senator Phil “Nation of Whiners” Gramm endorsed Rick Perry for president.

Posted in Open Thread | Tagged , , , , , | 9 Comments

Standards Are Poor

Artist – Adam Zyglis In other news, the Seventh Circuit U.S. Court of Appeals ruled today that a lawsuit against former Secretary of Defense Donald Rumsfeld for the torture of American civilians in Iraq may continue, and Michele Bachmann has … Continue reading

Posted in Open Thread | Tagged , , , , , | 3 Comments

The $2 Trillion Mistake

As has been widely reported, S&P briefly reconsidered their plans to downgrade the credit rating of the United States after the treasury pointed out to them that they miscalculated the nation’s debt by over $2 trillion dollars. It’s hard to … Continue reading

Posted in Economy | Tagged , , , , | 8 Comments

Paul Ryan is a Lying Liar

Republican budget front-man, Paul Ryan (R-WI), apparently didn’t even read the press release where in S&P spelled out their reasoning for downgrading the credit rating of the U.S. from AAA+ to AA+. Here is Paul Ryan’s response to Chris Wallace … Continue reading

Posted in Wingnuts | Tagged , , , , | 24 Comments