GE has been on the slide now for nearly 18 months from $42 to the $5 area. Isn't it just a little bit late, and pointless, to cut it's credit rating now?
Yeah I think it was baked in over the past week or two. As to the "ratings cut" .....this "evaluation" comes from a rating agency --- ie the same clowns who approved the crap that got us into this global economic mess by labelling crap as gold and thusly "investment-grade." I give them less credence than I do 99% of the so-called "Wall Street analysts" making calls on companies they cover and allegedly know. Translation: Anyone paying attention to what "ratings" agencies think after this latest fiasco is crazy. Expect the others to come out with "me too!" downgrades in the near future as well.