Business

Moody’s Blues: Major Agency Threatens to Downgrade U.S. Credit Rating

Moody’s Investors Service, one of the world’s most respected and widely utilized sources for credit ratings, threatened to lower the United States’ credit rating, citing the likelihood that the government will default on its debt.

The credit rating agency said it will have to adjust the government’s triple-A bond rating, the highest rating awarded by Moody, because the White House and Congress are running out of time to raise the nation’s borrowing limit and avoid a default.

The government reached its borrowing limit, which is currently $14.3 trillion, in May. The Treasury says the government will default on its debt if the limit is not raised by Aug. 2.

A downgrade could mean several things. First, it could raise interest rates on U.S. treasury bonds, increasing the interest paid by U.S. taxpayers. It could also push up rates for mortgages, car loans and other debts, which are linked to Treasury rates.

Moody’s had warned in June that it would take this step if lawmakers failed to make progress on an agreement by mid-July. The other credit ratings agencies, Standard & Poor’s and Fitch, have said they may make similar moves.

“An actual default, regardless of duration, would fundamentally alter Moody’s assessment of the timeliness of future payments,” said a report released by Moody’s.

If the U.S. does default, it would most likely be short-lived. However, Moody’s said it would still downgrade U.S. debt to double-A (the second-highest of nine rankings under Moody’s system).

This would mark the first time since Moody‘s first started evaluating the country’s debt in 1917 that they would give anything but top marks to the U.S.

Jeffrey A. Goldstein, a Treasury Department official, said the announcement is a “timely reminder of the need for Congress to move quickly … and agree upon a substantial deficit reduction package.”

“Right now we’ve got these dysfunctional debt limit talks,” said Robert Bixby, executive director of the Concord Coalition, formed in 1992 as a non-partisan group that focuses on ending deficit spending and promoting a balanced budget in the federal government.

“It‘s not surprising that an agency like Moody’s would weigh in and say, `Hey guys, this is the real world,’” he said.

(The Appreciated Press contributed to this story)

Comments (105)

1 2 3
  • awall1231
    Posted on July 14, 2011 at 6:16am

    Let them downgrade our rating if it means that barry will not be re-elected. He and his party are far more dangerous to the US than a bad credit score.

    Report Post » awall1231  
    • old white guy
      Posted on July 14, 2011 at 6:33am

      i’m surprised the the u.s. has a credit rating. oh, right we can print money that must be why. how worthless does the dollar have to be before the credit rating is affected???

      Report Post »  
    • SchoolsFailed
      Posted on July 14, 2011 at 1:04pm

      So Moodys says the US credit rating will NOT be damaged if the US goes deeper in debt?

      Moodys ?? — the irresponsible morons who gave sub-prime mortgages AAA ratings? Their unbelievable incompetence/stupidity helped collapse the economy! If there isn’t a law against that level of stupidity, there should be. Why does anyone listen to them — and why are they still in business?

      So the inability to pay back debt without monetizing/hyperinflation is a good thing? What are they smoking? We need to find out what college(s) those Moodys morons went to and get refunds for all those parents who mistakenly thought their kids were getting a good education. They obviously graduated dumber than a six grader.

      Report Post »  
    • Who would Jesus bomb?
      Posted on July 15, 2011 at 10:54am

      Having Barry in the white house, that alone is reason enough to lower our credit rating.

      Report Post » Who would Jesus bomb?  
    • Viet Vet
      Posted on July 15, 2011 at 7:04pm

      Schoolsfailed, I smell a skunk here. I think the Skunk is in the White House and had his lacky Geithner talk to his friends at Moodys/S&P.

      Report Post »  
  • NHABE64
    Posted on July 14, 2011 at 5:02am

    Three words describe the major cause of such a tragedy…
    BARACK HUSSEIN OBAMA!!!

    Report Post »  
    • saranda
      Posted on July 14, 2011 at 12:26pm

      “Bleed to Bankruptcy”. Those three words have been used in the Muslim world for years in regards to dealing with the USA. They dragged Bush into two wars we cannot afford, and BHO has continued that unnecessary expense and added Libya.
      Also, this country has expectations of living a lifestyle it cannot afford. We want it all and we want lower taxes. Screw that. Cut expenses and raise taxes. Start doing something to turn this ship around or my children and grandchildren will be the ones to suffer and they won’t care who won the political debates or who stayed truer to their political principles. We all lose and they lose more than I do.

      Report Post »  
    • Viet Vet
      Posted on July 15, 2011 at 7:06pm

      We can afford wars/national security, and whatsmore those things are constitutional. We can’t afford unconstitutional entitlements/specific welfare. Lower taxes, or leave them alone, and cut, cut, cut spending, especially unconstitutional spending.

      Report Post »  
    • Concerned Green Beret
      Posted on July 16, 2011 at 3:33am

      VietVet. That is exactly what I’m talking about. We are being told to cut the constitutional things and leave the unconstitutional things in, like Medicare, Social Security, Welfare, pay for illegals, socialized health care, on and on and on.

      Report Post »  
  • reform
    Posted on July 14, 2011 at 2:38am

    Just remember big Ben just said we may need QE3, you know have to help out his friends, screw the American public. Hold Obummers feet to the fire and make him own up to his fruitless spending, take no prisoners at this time. Go Bachmann set him and the rest of congress straight!!!!!

    Report Post »  
  • SHOWMESTATEGUY
    Posted on July 14, 2011 at 2:08am

    They should have down graded our rating three years ago. This is going to be worst than having a tooth pulled with no aniesthesia. Before things get better they are going to get ugly. The only ways out of this are default or hyper-inflation. Sorry folks but that’s your options. Which do you prefer? Sorry about that also, you really have no choice. Hyper-inflation it will be. If you have money in the bank, convert it to gold. QE3 will be the straw that broke the camels back.

    Report Post »  
  • TIME4CHOOSING
    Posted on July 14, 2011 at 2:07am

    Libs, your policies ROCK!

    http://youtu.be/ydzfV_vab5c

    Report Post » TIME4CHOOSING  
  • Cuthalu
    Posted on July 14, 2011 at 1:55am

    Raise of hands of anyone who thinks that Moody’s is making this announcement on behalf of Obama and the progressives to “nudge” conservatives to go along with them to increase the debt ceiling foolishly?

    Is this further proof of the progressives(in both parties) to commit treason by pushing us into unreasonable debt to encourage the collapse of the US?

    Report Post »  
    • saranda
      Posted on July 14, 2011 at 9:49am

      Atta boy. Just heard the Fox morning crew say the same thing. Is this the new Murdoch talking point for the week? “Is Moody’s partisan?” What a load of crap.

      Report Post »  
    • hud
      Posted on July 14, 2011 at 12:22pm

      Finance 101—-Debt is slavery. This wisdom was passed on to students at a cow college in Texas in 1960. It was true then and even more so now. Moody’s is being influenced by BInsaneO, just as Bernanke is

      Report Post »  
    • williamberry1
      Posted on July 14, 2011 at 4:49pm

      I’m not so sure I see it the same way. It seems to me that Moody‘s is in effect calling Obama’s bluff. As I understand it, Moody’s will downgrde the rating if the government fails to honor even one obligation. If that is true, and Obama chooses to default on the government’s obligation to social security recipients by failing to issue the social security checks on time in an attempt to hang the problem on republicans, that in itself will trigger a downgrade, which in turn will destroy his administration. I think the big O has painted himself into a corner..

      Report Post » williamberry1  
    • Viet Vet
      Posted on July 15, 2011 at 7:08pm

      CUTHALU, that’s the first thing I thought when I saw this maneuver.

      Report Post »  
  • Psychosis
    Posted on July 14, 2011 at 1:49am

    these credit agencies are in cahoots with this administration

    what causes a default?
    what would cause a downgrade in the rating?

    non payment of our monthly debt payments is what causes a default, and then the rating change

    if we are bringing into government coffers 220 billion a month, and the monthly debt payment is 67 billion ( ive heard 26 billion, but lets go with my researched number ) why would they not pay the 67 billion first thus avoiding a default, and use the rest which is more than enough to cover medicaid, medicair and social security??????

    there is even enough to cover military pay out of the revenue coming into the coffers every month

    the only thing we have to cut is all the other crap they spend money on, and thats why they say we will default………………..they need to borrow all that money to keep spending on all the other programs, but they cant come out and say that because the US population would tell them NO ”

    thus they twist the message trying to save all their program though they all know that extra borrowing will not be needed to avoid a default

    they are trying to control a dishonest message …………..get the truth out and they will destroy themselves

    Report Post » Psychosis  
  • Diane TX
    Posted on July 14, 2011 at 1:46am

    I don’t think I care if the USA credit rating falls from AAA to AA, when the Euro is about to become extinct.

    I thought it was hilarious today, when “King” Obama walked out of the debt ceiling talks. Let me be clear. Obama is a tyrant. His core belief is that everyone must bend to his will.

    He’s doing his best to make sure that there are only two classes of peoples in the USA. The ruling elite, that he considers himself to be a member of, and the great unwashed – who are dependent on the ruling class.

    Obama can’t afford to have a middle class of peoples, because they are normally the independent type – who question why they should feed at the government te at, when they are capable of taking care of their own needs.

    I don’t know about the rest of you here, but I’ve had enough of this “Too far left for America” tyrant who stomps his foot when there is an attempt to rein him in.

    Report Post »  
    • fatjack
      Posted on July 14, 2011 at 10:46am

      Diane TX
      Posted on July 14, 2011 at 1:46am

      I don’t think I care if the USA credit rating falls from AAA to AA, when the Euro is about to become extinc
      ——————————————————————————————————————-
      The EURO is the canary in the coal mine, if it fails we only have a few days before tshtf.

      Report Post » fatjack  
    • Viet Vet
      Posted on July 15, 2011 at 7:11pm

      Diane, Obummer is a Chicago THUG. And he’s an affirmative action recipient, so he’s used to having everything handed to him.

      Report Post »  
  • Diane TX
    Posted on July 14, 2011 at 1:43am

    I don’t think I care if the USA credit rating falls from AAA to AA, when the Euro is about to become extinct.

    I thought it was hilarious today, when “King” Obama walked out of the debt ceiling talks. Let me be clear. Obama is a tyrant. His core belief is that everyone must bend to his will.

    He’s doing his best to make sure that there are only two classes of peoples in the USA. The ruling elite, that he considers himself to be a member of, and the great unwashed – who are dependent on the ruling class.

    Obama can’t afford to have a middle class of peoples, because they are normally the independent type – who question why they should feed at the government teat, when they are capable of taking care of their own needs.

    I don’t know about the rest of you here, but I’ve had enough of this “Too far left for America” tyrant who stomps his foot when there is an attempt to rein him in.

    Report Post »  
    • SimpleTruths
      Posted on July 14, 2011 at 10:20am

      Your comments were just as wrong the second time. If you honestly believe it‘s the Democrats who are trying to destroy the lower and middle classes then there’s no hope for you, you’ve drank too much poison already. Big Oil, Wall Street and Koch Brothers have you right where they want you.

      Report Post » SimpleTruths  
  • neverending
    Posted on July 14, 2011 at 1:34am

    Maybe this is very foolish but I just think this is more of the dirty rotten games the sorry sob sitting in the oval office arranged this!

    Report Post »  
  • Eric_The_Red_State
    Posted on July 14, 2011 at 1:05am

    WHO CARES?

    All I want to know is – Does Casey Anthony like pickles? Where did she go to High School? If she could be an animal – which one would she be? What is her favorite color? What was she thinking when the jury came back? Forget people who were killed in the war – they are not important.. There should be a 24 hour Casey Anthony channel.

    Report Post » Eric_The_Red_State  
  • hsmom24boys
    Posted on July 14, 2011 at 1:02am

    I agree with Bachman, take the shovel out of BHO‘s hands so he can’t dig us more trillion dollar holes to help us out of the deep pit we are in. When in the bottom of a big hole, rule number one–QUIT DIGGING>

    Report Post »  
  • Netsurfer2
    Posted on July 14, 2011 at 12:59am

    Oh No, should we borrow more money??? Oh my, we need to print more??? Um, how about saving what you make for a rainy day. They playground is full of others who would gladly take your place!

    Next Election: Let’s take out the trash!

    Report Post » Netsurfer2  
  • rightwinglefty
    Posted on July 14, 2011 at 12:57am

    A credit rating only matters if you want to borrow. Is it bad if interest rates increase? People used to have savings accounts and banks used a portion of that money to make loans. Now everything is tied to the stock market. An interest bearing savings account pays next to no dividend. Banks need to get cash somewhere to make auto and home loans and credit cards. Maybe if we go back to basics.

    Report Post » rightwinglefty  
    • SimpleTruths
      Posted on July 14, 2011 at 10:23am

      Maybe if you finished school, or at least took an economics class you’d understand why even a tiny increase in interest rates is far, far worse for corporations, and Americans, than closing a few income tax loopholes.

      But that requires thinking and obviously you’d rather have other people do that for you.

      Report Post » SimpleTruths  
  • jb.kibs
    Posted on July 14, 2011 at 12:56am

    i wish i could go back to 1913 and change a few minds…
    can you believe that in only 98 years after creating the federal reserve, we have lost that much dignity and respect? normal people mature when they get a checking and savings account then, eventually, a credit card… leave it to politicians to do the complete opposite out in front of those who they are supposed to be representing. mis-representation is unlawful? no?

    Report Post »  
  • abbygirl1994
    Posted on July 14, 2011 at 12:56am

    And this is what Obama and George Soros want.. along with all of Obama’s henchmen! It is all they have worked for!

    Report Post » abbygirl1994  
    • AmeriCat
      Posted on July 14, 2011 at 6:37am

      And they will continue to hack their way
      to accomplish their personal ideological mission,
      as they curse the American people and ignore public outcry!

      All the while, they are forging strong alliances with our enemies
      and offering not only our secrets, but the secrets of our allies…
      There must be a name for that…and also a punishment?

      Report Post »  
  • cheezwhiz
    Posted on July 14, 2011 at 12:37am

    Lemme bring out the 4G and 3M focus of this regime .
    Everything and anything Obama does is for the financial benefit of 4G & 3M.
    If Obama wants something done, it is for the financial benefit of 4G & 3M.
    If Obama creates obstacles for any act, its because 4G & 3M are not financial beneficiaries of that act .
    If Obama vilifies anything or anyone, its because that person is of no financial benefit to 4G & 3M.
    If Obama throws a temper tantrum, you can count on it that its because the financial interests of 4G& 3M are not being satisfied .
    4G= GE, GM, Google, Goldman Sux
    3M= Muslims, Marxists, Mexicans

    Report Post » cheezwhiz  
  • TH30PH1LUS
    Posted on July 14, 2011 at 12:31am

    Disband the IRS and institute a Fair Tax. Audit the Federal Reserve. Deport illegals and seal the borders. Allow American energy companies to drill for oil. Mandatory drug test for welfare recipients.

    The American Economy can thrive again, but we have to elect people with the guts to do what must be done.

    Report Post » TH30PH1LUS  
    • mossbrain
      Posted on July 14, 2011 at 12:40am

      Also repeal social security, medicare, the minimum wage, repeal medical licensing, outlaw lawyers, these are the things bankrupting the US.

      Report Post » mossbrain  
    • LOOKING_BOTH_WAYS
      Posted on July 14, 2011 at 12:55am

      Why only welfare drug test ?.. I say drug test everyone from POTUS to the guy who cleans the outhouse at a State Park , after all they are all being paid with our Tax Dollars

      Report Post »  
    • jb.kibs
      Posted on July 14, 2011 at 12:58am

      not outlaw lawyers… repeal laws. a lot of laws. k.i.s.s …

      Report Post »  
    • GRAMPA-D-NH
      Posted on July 14, 2011 at 12:59am

      Support that statement plus many more cuts in costs and regulations to free up our economy and people.

      Report Post » GRAMPA-D-NH  
    • darla patterson
      Posted on July 14, 2011 at 10:07pm

      All Right!!!!

      Report Post »  
  • poorrichardsnews
    Posted on July 14, 2011 at 12:26am

    Michele Bachmann gave a FANTASTIC interview to Greta about the debt ceiling and Moody’s threat to downgrade the US credit rating. Her tax expertise was on display: http://poorrichardsnews.com/post/7602134854/michele-bachmanns-fantastic-interview-with-greta-on

    Report Post » poorrichardsnews  
    • rightwinglefty
      Posted on July 14, 2011 at 12:52am

      @poorrichardsnews The video is hard to dispute. Take the shovel out of the President‘s hands and let’s fill the hole. Where does it stop if we keep borrowing?

      Report Post » rightwinglefty  
    • poorrichardsnews
      Posted on July 14, 2011 at 12:58am

      Exactly. The answer is it doesn’t stop. He has no interest in stopping.

      Report Post » poorrichardsnews  
    • saranda
      Posted on July 14, 2011 at 10:16am

      Did you even pay attention to the video? Her answer to everything is that the money exists for that. How then do we have a deficit genius? She never has any solutions, just take shots at the dems and offer up sound bites.
      I find it despicable that both sides seem prepared to let politics determine my children and grandchildrens access to a better life than I, which should be the goal of all parents. they equally contributed to getting us here, but neither is prepared to address the problem of both over spending and under taxing.

      Report Post »  
    • fatjack
      Posted on July 14, 2011 at 11:08am

      saranda
      Posted on July 14, 2011 at 10:16am

      She never has any solutions
      —————————————————————————————————————————
      Take the shovel out of obama‘s hands is the best solution I’ve ever heard.

      Report Post » fatjack  
    • saranda
      Posted on July 14, 2011 at 12:15pm

      @fatjack – funny comment, but it does nothing to address the issues.We cannot afford to be involved in two wars. We cannot afford our lifestyle. Our expenses are too high. Our revenues can be increased.
      Stop with bandaids to appease a specific political ideology and start presenting ideas to begin the long process of fixing our hurts.
      For years the rest of the world has heard the phrase “bleed them to bankruptcy” in reference to the US and its enemies approach to war with us, and yet we have ignored it and pumped trillions into fighting a “war” we cannot win on their soil Protect our borders and get the hell out of the ill conceived wars in Iraq and Afghanistan.
      Both parties led us to this place, stop the left vs right crap and start working on a solution.

      Report Post »  
  • 82dAirborne
    Posted on July 14, 2011 at 12:23am

    What’s wrong with this picture?? A “private” company threatening the US government? Odd. I smell political pressure.

    Report Post » 82dAirborne  
    • OhioRifleman
      Posted on July 14, 2011 at 7:43am

      More to the heart of the matter, it is an international conglomerate, beholden technically to no nation on planet. Whatever they are fronting, I have cause to suspect because they have no manner of check or balance.

      Report Post » OhioRifleman  
  • Dakota Hawk
    Posted on July 14, 2011 at 12:22am

    I agree Lady…you reap what you sow. Downgrade. Lets pay the price and perhaps then they will stop spending with disregard.

    Report Post » Dakota Hawk  
  • JRook
    Posted on July 14, 2011 at 12:19am

    Not to worry I heard they are going to reconsider now the M. Bachmann said that there was no problem if the US defaults. So did God tell her this before or after he told her to run…..sorry couldn’t resist.

    Report Post »  
    • HisNameWasRobertPaulson
      Posted on July 14, 2011 at 12:29am

      Couldn’t resist? How about you have no clue?

      The US is not going to default. We have more money coming in than our debt servicing requires. Period.

      Report Post »  
    • Therightsofbilly
      Posted on July 14, 2011 at 1:38am

      Give JROOK a break, he has a hard time commenting and day trading at the same time.

      Report Post » Therightsofbilly  
    • JRook
      Posted on July 14, 2011 at 10:00am

      @HisNameWasRobertPaulson No actually you don’t and you really should not be listening to Rush or Bachmann for information regarding this issue. In the real world bonds carry what are called bond covenants which are specific financial performance criteria regarding the health of the organization who issued the bonds. They can include financial ratios as well as specific business volume, P&L and Balance Sheet thresholds. Technically any violation of the bond covenants can trigger a default on the bonds. So even if the issuer has cash to cover some or all of their immediate bills they can be in default. While not specific as in many bond prospectuses, there are implied “bond covenants” associated with the Federal debt mechanisms such as T bills. Bond rating agencies, along with the market will react to an inability of the Federal government to borrow and therefor pay all of its bills as a default. Paying the interest and a portion of the bills sounds good, but will not prevent such a determination. Given that the Federal government retires and reissues bonds weekly, sometimes upwards of $50 billion, the inability to borrow would brings things to a halt very quickly. The number of financial vehicles that are tied to the T bills cannot be understated. A default by the US government would be a very bad thing for all. A default is not simply the ability or inability to make the immediate interest payment.

      Report Post »  
    • JRook
      Posted on July 14, 2011 at 10:22am

      @Therightsofbilly Thanks but don’t need help on this one. DT between 7am and 1PM. Usually hitting little white ball after that. Like a lot investors I just don’t like the uncertainty here, although there will be tons of money made shorting T bills.

      Report Post »  
    • saranda
      Posted on July 14, 2011 at 11:11am

      Very impressive understanding of the debt issue JROOK. Too many people look at this as a simple approach to math. Can I pay the interest, forgetting that maturities of old issues need to be addressed as well. And by not paying other obligations of government (wasteful or not) we risk impacting the ongoing ability to borrow or even operate under the favorable conditions we have been living under for generations.
      This is not as simplistic as “we have the income to meet the interest payments”.

      Report Post »  
    • Viet Vet
      Posted on July 15, 2011 at 7:17pm

      Doesn’t take much to fool SARANDA. This is why the left is so misinformed all the time. They hear a fellow leftist, at one of the leftist blogging spots say something, or write something, and then they go off spewing the garbage all over the net. Too many fools amonst them.

      Report Post »  
  • InformedbyBlaze
    Posted on July 14, 2011 at 12:18am

    What a JOKE!!! Where was Moody’s sensitivity and honor when it was rating Junk Securities (the ones backed by bad loans) and making Goldman Sacs a fortune?? I guess it’s ok to threaten the US economy, just as long as you don’t threaten the guys that were lying and cheating at AIG & Wall Street. IF Moody’s had made even a whisper during their rating of bad securities, we might not be in this mess – now they are going to screw us all again?

    Report Post »  
    • cheezwhiz
      Posted on July 14, 2011 at 12:25am

      I wonder what Moody’s is getting in return from Obama errr,….er…Geithner..
      I mean …….from Goldman Sux ? I‘m sure Moody’s will be shoving some dinero into the billion dollar slush fund for the islamomarxist ..or will it be Goldman Sux ?

      Report Post » cheezwhiz  
  • JRook
    Posted on July 14, 2011 at 12:16am

    Not to worry I heard they are going to reconsider now the M. Bachmann said there wasn’t a problem of defaulting……. so did God tell her this before or after he told her to run. Sorry couldn’t resist.

    Report Post »  
    • Psychosis
      Posted on July 14, 2011 at 1:54am

      no, God didnt tell her…………………….she knows her math

      something maybe you should brush up on troll

      220 billion comes into coffers every month
      67 billion is what monthly debt payments are

      that leaves 153 billion AFTER the debt payment is made

      that is more than enough to cover social security, medicaid, medicare, AND military pay

      just not enough to cover all the other programs they waste money on ……………that is why they claim it will cause a default, because they know if they come out and say the truth why they need to borrow more money the citizens would tell them quite soundly NO

      Report Post » Psychosis  
    • JRook
      Posted on July 14, 2011 at 10:02am

      @Psychosis Ok tiger save your name calling for your drinking buddies who either pretend to agree with you or don’t know any better. In the real world bonds carry what are called bond covenants which are specific financial performance criteria regarding the health of the organization who issued the bonds. They can include financial ratios as well as specific business volume, P&L and Balance Sheet thresholds. Technically any violation of the bond covenants can trigger a default on the bonds. So even if the issuer has cash to cover some or all of their immediate bills they can be in default. While not specific as in many bond prospectuses, there are implied “bond covenants” associated with the Federal debt mechanisms such as T bills. Bond rating agencies, along with the market will react to an inability of the Federal government to borrow and therefor pay all of its bills as a default. Paying the interest and a portion of the bills sounds good, but will not prevent such a determination. Given that the Federal government retires and reissues bonds weekly, sometimes upwards of $50 billion, the inability to borrow would brings things to a halt very quickly. The number of financial vehicles that are tied to the T bills cannot be understated. A default by the US government would be a very bad thing for all. A default is not simply the ability or inability to make the immediate interest payment.

      Report Post »  
    • JRook
      Posted on July 14, 2011 at 10:16am

      @Psychosis and by the way your figures are wrong the amount to cover those items is $232 billion (SS, Defense, Medicare, Medicaid, Debt) you can’t just pull out troop pay from what the DOD owes. I’m sure the defense contractors want to get paid. Beside you do realize that similar to other businesses the feds don’t pay all bills immediately, so the outstanding bills at any given time are greater than the monthly receipts. Bottom line is you really don’t understand the difference between defaulting in the sense of debt in the form of bonds is to bankruptcy. They are different conditions.

      Report Post »  
  • LadyIzShy
    Posted on July 14, 2011 at 12:14am

    this is NOT news, personally I think Moody is working with the white house on this. BHO is fear mongoring and Moody is playing right in to his hand. They SHOULD down grade our credit rating we are BROKE and cant pay our bills. Now seriously if you cant pay your bills how is YOUR credit rating?

    Report Post » LadyIzShy  
    • cheezwhiz
      Posted on July 14, 2011 at 12:20am

      Moody is working with the white house on this. BHO is fear mongoring and Moody is playing right in to his hand
      ——–
      The same Moody’s which gave such EXCELLENT ratings to AIG and Countrywide…and look how that turned out

      Report Post » cheezwhiz  
    • Viet Vet
      Posted on July 15, 2011 at 7:14pm

      SIMPLETON, democrap policies are what hurt the poor and middleclass. Doesn‘t matter if they’re trying to do it on purpose or not.

      Report Post »  
    • Viet Vet
      Posted on July 15, 2011 at 7:15pm

      I think Obummer had Geitner talk to his buds over there.

      Report Post »  
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