Why would anyone actually trust S&P ???

Discussion in 'Trading' started by ByLoSellHi, Mar 13, 2008.

  1. Aren't these the same morons that assigned the best credit ratings to some of the very worst companies and debt offerings?

    Didn't they have to do a highly public and (one would think) embarrassing mea culpa (along with Moody's) when many of those same companies and debt offerings suddenly turned into junk-rated status?

    And now, they claim that the "bulk" of the subprime writedowns are behind us, a statement that some claim actually caused the major indexes to pop today?

    Oh really?
  2. You apparently missed representative Barney Frank's FHA mortgage proposal. As you point out, Standard & Poors has very little credibility.
  3. The run today was idiocy.
  4. Aha. So any move to the upside is pure idiocy. Any move to the downside is perfectly logical. Gotcha.
  5. LOL!
  6. It wasnt idiocy it was a good chance for many to take off shorts and also a great long pop opportunity but lets be honest a statement from those clowns changes nothing in the real world as Consumer spending told you. Dont be so narky dude
  7. Nope... I am long. Give me a reason why the market should have jumped a huge amount of points today? The S&P projection? Haha