Standard and Poor’s decision to threaten eurozone countries with ratings downgrades may seem like bad timing. But if it keeps markets on edge, European leaders might be scared enough to crank out some real solutions, rather than the half-baked measures already on tap.
It’s tempting to read the resignation of Deven Sharma, who stepped down as president of S&P Monday night, as an admission that the rating agency goofed in downgrading the United States’ sovereign rating from AAA to AA+, even as Fitch and Moody’s maintained America’s top grade. Warren Buffett said the U.S. should be rated “quadruple [...]
Just got word from Standard & Poors. I’ve been downgraded. So have you. The firm has blamed bickering politicians in Washington for forcing it to lower the rating on U.S. Treasury bonds to AA —U-S-A-A! U-S-A-A!— from the highest, triple A ranking, but in neighborhoods all over America, people are getting along just fine. And [...]
