GE downgrade-too late?

Discussion in 'Stocks' started by scenic58, Mar 12, 2009.

  1. scenic58


    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?
  2. rickf


    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.