George Will: We’ve Learned Nothing From Standard & Poor’s
- Posted on August 7, 2011 at 8:22pm by
Christopher Santarelli
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Washington Post columnist and ABC News commentator George Will became one of the first high-profile conservatives to publicly call into question the validity of Standard & Poor’s in the wake of the U.S. triple-A downgrade. White House and Treasury officials have accused S&P of making a $2 trillion error and misreading basic data in cutting the rating of the world’s largest economy to AA+ from triple-A. Other liberal commentators have dismissed S&P‘s judgement all together based off the rating agency’s part in the 2008 mortgage meltdown. On this morning’s “This Week,” Will sounded a lot more like Warren Buffet and Rep. Barney Frank than Sen. John McCain:
“Standard and Poor would have forfeited it’s good reputation, if it had a good reputation to forfeit these days. It having missed the entire mortgage-backed securities problem right under it’s nose. If you read what they actually said it’s a kind of half-baked political analysis criticizing the American system of government and how it works now. They’re entitled to their opinion on our politics, but their opinion isn’t entitled to any particular respect.”
(H/T: Mediate)
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Comments (122)
JohnnyGalt
Posted on August 7, 2011 at 8:52pmhttp://footofatlas.blogspot.com/
Report Post »Patrick in AZ
Posted on August 7, 2011 at 9:42pmwhenever I hear one of the “establishment” – and Will is one of the establishment – talk about what we are supposed to believe, I automatically believe the opposite.
Report Post »Jaycen
Posted on August 8, 2011 at 12:58amThese guys are so arrogant. They know more than everyone. Well, guess what, you don’t call the shots. Apparently, S&P will do what they want. Suck it up and change the behavior.
IntransigentMind
Posted on August 8, 2011 at 1:38amHa! George Will scores!
Report Post »TheTruthPlease
Posted on August 8, 2011 at 8:28amIt is laughable to think that we have until 2012 to remedy this situation. Let’s see, keep on moving nothing to see here with the US economy and don’t worry about Europe they don’t have financial difficulties, what violence in jolly old England, here in the US; nope you must be a racist, or perhaps a tea party member. Don’t mind the socialist sh%$ bags running our country over the cliff…have a plan, don’t be caught dead without one…
Report Post »JRook
Posted on August 8, 2011 at 11:49am@Jaycen You are correct and the first behavior that has to change are the statements from representatives from congress and senators that it is ok to default and we should not raise the debt ceiling. M. Bachmann needs to display her ignorance in other areas and keep her mouth shut. Then we need to cut all areas of the budget equally to balance the current budget and then implement a surtax on incomes over $250K and corporations earmarked for the long term deficit. Past spending cannot be paid off through current budget cuts.
Report Post »HairOfTheDogSob
Posted on August 8, 2011 at 1:37pmHave we learned to spend less than we produce?..
Report Post »texanpatriot
Posted on August 7, 2011 at 8:49pmBy the way, is it true that Geitner regulates some of the rating agencies? Just asking…
Report Post »texanpatriot
Posted on August 7, 2011 at 8:48pmI hope we still have until 2012 to boot these idiots. Don’t watch anything on ABC so could not have heard the dead rearange the deck chairs on after we hit the iceburg.
Hope we make it ’til 2012…
Report Post »cessna152
Posted on August 8, 2011 at 6:24amYup… that is a very valid concern. Maybe they can declare marshal law or something…..these progressive are very close to their goal and they will not let 100 years of “work” end now! I sense something is about to happen. Be ready…
Report Post »weneedrubio
Posted on August 7, 2011 at 8:47pmI am surprised that George Will does not understand that this downgrade was done because the administration asked them to. It is incredibly stupid but it does play into their vision of the country and the Republican party. These idiots do things like this all the time and lie their way out of it. 50% of the population believes them regardless what they do. That is also why the blame game will be more intense then normal this time.
Report Post »Lucy Larue
Posted on August 7, 2011 at 9:00pmWENEEDRUBIO,
Will is one of the conservative dinosaurs. Yeh…,he may have a point about the downgrade but, he’s stayed too long at the fair.
And yes…,we need Rubio,we need West, we need Ryan yadda, yadda.
Be patient. We have to get rid of President Dunham and his incompetent minions first.
Rick Perry? 2012?
Please not Romney.
Report Post »loriann12
Posted on August 7, 2011 at 9:11pmCan you say Cloward and Piven?
Report Post »gmitch50
Posted on August 7, 2011 at 8:46pmThe bottom line will show up in costs of goods. Hard goods needed for daily survival.
Report Post »The frivolous goods (wants) will dip & dive with the hype.
Watch food, energy and housing, then clothing.
If you haven’t laid at least 3 months worth back, you will wish you had.
Government and industry will do what they are going to do.
Prepare as well as you can to do without them and convince as many as you can to do the same, this way you will have the greatest direct drain on their power over all of us.
vtxphantom
Posted on August 7, 2011 at 8:44pmWe elect these people to govern. They screw it up and we reelect these people to fix the problem they created. In the past, for the most part they never fixed anything, they slapped some money on it and pushed it down the road to be fixed at a future time. Well we are at that time and we cannot push it down the road anymore, but we reelect these people to fix the problem again. How brain dead are Americans. If we want to change the government we must destroy the way business is done in DC. That is why the Tea Party has made a small difference. Its not politics as usual. 2012 is the difference between life and death for this republic. What path are we going to down?
Report Post »NOBALONEY
Posted on August 7, 2011 at 8:42pmGeorge Will calls S&P “half-baked”, and Cokie Roberts thinks all comments of those against theadministration is“good bumper sticker material”. If they think S&P downgrade from AAA toAA, and outlook is negative. Wait till they see China‘ Dagong agency’s downgrade of A+ to A, and it’s “discarding of the dollar”. ABC’s This Week commentators should get their heads out of the sand!
Report Post »TAKE_NO_PRISONERS
Posted on August 7, 2011 at 8:40pmMarginalize, discredit,mock,degrade,slander,lie… progressive attack strategy to deflect the truth.The spin machine is out to protect ‘The Annoited One”
Report Post »GregoryRMatthews
Posted on August 7, 2011 at 8:40pmJust another member of the criminal class (Washington Politicio’s) trying to find someone other than themselves to point fingers at. It is purely and simply sick….
Report Post »stanbeck
Posted on August 7, 2011 at 8:39pmI’m glad they down graded. Now the Washington crowd might have to think about what they’ve been doing.
Report Post »gemologist
Posted on August 7, 2011 at 11:34pmOr just blame it on the tea party…
Report Post »redbone007
Posted on August 7, 2011 at 8:38pmBREAKING NEWS: WE FOUND OUR PRESIDENT. Obama plays golfs at Andrews Air Force Base instead of addressing the downgraded of the US credit rating before the market open on Monday. Or, the k i l l i n g of our 38 Navy Seals
Report Post »Chuck Stein
Posted on August 8, 2011 at 1:20amSeems like those golf holes are like holes for BHO to impersonate an ostrich.
Report Post »neckcarjim
Posted on August 7, 2011 at 8:37pmThings have even gotten bad fr the E-Trade baby.
Report Post »http://youtu.be/W4hfdaC7eL4
tmplarnite
Posted on August 7, 2011 at 8:37pmHow do these people get SO stupid…do they go some place and get their brains sucked out…seems so!
Report Post »rbosque
Posted on August 7, 2011 at 8:36pmConsidering how S&P have donated to Obama‘s campaign in ’08 and now, how is this policially motivated? Just look at the markets, are they having a negative reaction? Are the markets therefore politically motivated or simply reacting to an unstable dollar coupled with an inconsistant U.S. fiscal policy? Easy to figure out Will. Seriously.
Report Post »hauschild
Posted on August 7, 2011 at 8:35pmHmmm….Looks like old Willy might have a pile tied up in the market, huh?
Sorry, George, but we’ve all gotta take the medicine at some point, or we’ll never get better. Moms are smart.
Report Post »freedumb1
Posted on August 7, 2011 at 8:35pmWhat does George Will know? Greenspan said, “We can always print more money!” S&P should stand for..SPEND and PRINT!!!
Report Post »jacks
Posted on August 7, 2011 at 8:33pmWake up and smell the coffee.
Report Post »Disneyfan
Posted on August 7, 2011 at 8:46pmThe question is not why Standard and Poor downgraded the U.S. credit rating but why the other two agencies didn’t. I do not need to be a credit expert to know that right now, with this reckless, sorry excuse of a man in the role of President of the United State and his socialistic cronies, America is not a safe bet. Every opposite action of what is known to bring recovery is being taken by this administration. I will go even further is stating that I believe it is being done purposefully with ulterior motives. Our credit rating should be lowered until we get our financial house in order and boot out every politician that believe that government is the answer.
Report Post »clockwatcher
Posted on August 7, 2011 at 8:32pmObama should resign along with his“staff” of left wing fools.
Report Post »Captain Whamo
Posted on August 7, 2011 at 8:32pmBecause S&P missed the mortgage-backed securities problem we should forever shun them? I think S&P is dead on. There is no indication that the government is going to cut spending.
Report Post »MODEL82A1
Posted on August 7, 2011 at 8:32pmDenial ain’t just a river in Egypt.
Report Post »Cheekymnky2
Posted on August 7, 2011 at 8:32pmI wonder who the connections are with S&P and the White House and is this all part of the admin’s plan? The lack of reaction from the White House to prevent this kind of downgrade is very interesting yet troubling.
Report Post »I Love Howie Carr
Posted on August 7, 2011 at 9:00pmConvenient crisis. They’re already blaming the Tea Party left & right.
Report Post »flfshrmn
Posted on August 7, 2011 at 8:31pmEveryone else is wrong, the whole world is wrong accept Obama……who seemingly hasn’t gotten anything right yet and will continue to lie and point fingers. Blaming the old boss shows a lack of leadership and is a cop out! A true leader takes the position because he is up to the task and the title it is yours from day one. You accept full responsibility for the successes and the failures.
Report Post »shazam3
Posted on August 7, 2011 at 9:39pmThis administration will say anything and do anything to attain the destruction of the US. With no MSM to debate them they are like spoiled children who want everything. And from what I see they are spending our money like some new lottery winners. Both parties are to blame and S&P sees it, and they see the “debt deal” as nothing but the same old Washington elite bending the books their way and telling the public lies.
Report Post »Steel Awesome
Posted on August 7, 2011 at 8:31pmYes, let’s all “pooh-pooh” the S&P rating downgrade. Nothing to see here. Move along, folks.
Report Post »GaryInTheMiddle
Posted on August 7, 2011 at 8:31pmDamn I didn’t realize how smart liberals were. (still don’t). Excuse me while I work on my bumper sticker.
Report Post »randy
Posted on August 7, 2011 at 8:29pmGeorge WIll is an idiot.
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