I’m curious as to why we Americans should put any weight on the decisions of incompetent agencies who are threatening to “downgrade” the AAA sovereign credit rating of the United States of America, when it was these same companies who rated toxic, bundled, mortgage backed securities as AAA! – Joe, Wakefield
day after one of the world’s three major credit rating agencies made the unprecedented move to cut the U.S. credit rating, Massachusetts leaders say the state is apt to feel a ripple effect from the decision.
The Massachusetts’ congressional delegation is protesting a warning from a major credit rating agency that they might downgrade the credit ratings of several municipalities in the state. Moody’s Investors Service announced it would review the possible downgrade of U.S. municipalities and other institutions due to the indirect effects of the possible downgrade of federal government bonds because of the ongoing impasse over the federal debt limit. Moody’s has listed 162 local governments in 31 states.