Thread: S&P Downgrades the USA

For the first time in history the US credit rating was downgraded from AAA to AA. What a scam, the S&P is a joke. Thanks fuckers for downgrading the banks 6 months after the financial crisis. You guys suck and should be sent to Guantanamo.

They have to grade fairly, otherwise what good is the scale?

Originally Posted by BullsFTW

For the first time in history the US credit rating was downgraded from AAA to AA. What a scam, the S&P is a joke. Thanks fuckers for downgrading the banks 6 months after the financial crisis. You guys suck and should be sent to Guantanamo.

How much do you think this is gonna tighten things up? Was just reading today about how much mortgages were falling in the last week and am thinking more seriously about upgrading our living situation.

It's not S&P that are the jokes...

Originally Posted by Abrown07g

It's not S&P that are the jokes...

It's all a joke, the S&P is just a sham, the worst early warning system ever. Why do you think the market crashed 512 points yesterday? it's because someone at the S&P spoke to someone at GS and the selling avalanche started as they shorted the shit out of the market. These guys are all crooks.

I'd like to say what I think about it but politics are a no no on here.

Come to think of it, I should not have said that S&P aren't the jokes. So my apologies.

If you are unfamiliar with how big of a scam the s&p is watch their testimony in front of congress about the mortgage crisis. That said their rating will still cause a ripple affect most noteably in our borrowing rate. Also remember any business based out of the us cannot have a better outlook then their country. So major us businesses will be impacted if they have competition outside the us.

Next week will be interesting to watch the markets.

I figured it would happen over the weekend. There were already rumors spreading about this for an announcement after the close. So apparently there was a leak, or just some good "guessers" lol. Anyway, i'm not so sure S&P rating will affect much. Moody's and Fitch are more likely to cause a big downward move. If this had been announced Friday afternoon, you would have seen a 1000 dow drop I am sure of it. Luckily traders have the weekend to figure out what this means exactly. Market will probably gap down 10 points on the S&P on the open at 6pm Sunday (futures). But after that we will see how everything reacts.

I am glad I didn't hold any short term positions this weekend haha.

The S&P was sure on target with those AAA ratings on mortgage back securities

Monday we will see what happens although a drop is sure to be in effect.. I lost some good money this week trying to out smart the drops, Monday its time to sell and cut losses. I only see this worsening in the upcoming weeks time.

If you have a side project/business I would focus on those for the next month or so.