S&P Downgrade - 3 quick posts to get you up to speed
Big news this week first with the debt ceiling deal being signed at the last minute, then the market fall, then the S&P downgrade of the U.S. credit rating. Useful to know about. Here are three solid big-picture posts on the subject that I recommend:
- Robert Reich: The S&P has no business downgrading the U.S.
- Chris Dixon: The role of credit agencies in the financial crisis
- Felix Salmon: Why the S&P downgrade was delayed
Some background stuff if you want more more more:
- Donald Marron: Five Things You Should Know About The S&P Credit Downgrade
- Megan McCardle: U.S. Faces Possible Ratings Downgrade From S&P
- Nomi Prins: Ratings Agency Hypocrites
- Henry Blodget: S&P Botched Its Story, But The Downgrade Is Perfectly Fair
- Albert Wenger: Let’s Eliminate Ratings Agencies
- James Fallows: Obama as Chess Master: ‘Think of Him as Bobby Fischer’
Anyhow - though I am Canadian and can’t vote, I’m obviously more on the left. So take that grain of salt as you will, and enjoy. Well, not “enjoy” per se. This sucks.