And Standard & Poor's Opinion Matters, Why...?

[filkertom]

Steve Benen, with a nod to Joe Klein at Time, reminds us why our moneyed masters really suck:

... S&P prepared an analysis to justify a specific conclusion. The analysis was off by $2 trillion. Treasury explained to S&P that the analysis wasn’t even close to being accurate, which led the ratings agency to concede they’d made a mistake.

And a few hours later, S&P decided to reach the same conclusion anyway. The agency wanted to proceed with a downgrade; whether its numbers added up was irrelevant.

That certainly inspires confidence in the integrity of Standard & Poor’s decision making, doesn’t it?

All that these ratbastards obsess about is getting a high score. Unfortunately, their little game affects our very existence.