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Sunday, May 22, 2011

On debt ratings companies...

Were it not for a craven press that simply repeats their 'assessments' would anyone listen to the likes of Fitch or S&P who go around pronouncing that Greece and even the USA is a bad credit risk? An old conspriacy movie, Enemy of the state, had a great line: who's monitoring the monitors? Well today let us be the first...we are. And we say, after their oversights in 2008-2009, that they are full of it.

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