. September 18, 2008 SouthAmerica: Right now the credibility of the 3 major US financial credit rating agencies - Standard & Poor's, Moody's, and Fitch Ratings is on the line. Letâs see if these 3 world leading financial credit rating organizations - Standard & Poor's, Moody's, and Fitch Ratings will be doing their job in the near future when they start reviewing the real credit rating of the United States government because very soon the credit rating of the US government will achieve the status of just junk. And the US currency will become just confetti. Note: Things to be considered when reviewing the real credit rating of the US government: 1) The current cumulative outstanding debt of the United States government. 2) The massive amount of liabilities that are coming due related to the Baby Boom generation. 3) The cost of foreign adventures in Iraq, Afghanistan, and God knows what else is in the pipeline. 4) The massive amount of money related to nationalization of dying juggernauts such as Fannie and Freddie, AIG, and many others. 5) And now the US government will absorb trillions of US dollars in toxic waste from banks and other financial institutions. Financial rating: US government = Junk ********* Stocks surge on report of entity for bad debt Thursday September 18, 2008 - 4:08 pm ET By Tim Paradis, AP Business Writer Associated Press Stocks end sharply higher on report that government will create entity to hold banks' debt NEW YORK (AP) -- Wall Street has ended a volatile session sharply higher after a stunning late-session turnaround that sent the Dow Jones industrials up about 400 points. The big comeback followed a report that the federal government may create an entity that will take over banks' bad debt. The report on CNBC said Treasury Secretary Henry Paulson is considering the creation of an entity like the Resolution Trust Corp. that was set up during the savings and loan crisis of the late 1980s and early 1990s. Investors have been cheered by the notion of a huge federal intervention like the establishment of RTC to acquire the mortgage debt that has hobbled financial institutions and led to the intense volatility in the markets this week. .