Saturday, August 6, 2011

This Morning So Far

My wife: "I'm going to buy a new couch." I responded simply, "No." Jeez, who the hell does this woman think she is. I'm just buying a new car for her budding business and now she wants to spend three grand on a couch. I'm absolutely convinced that she has "wet brain," as the drunks call it.

The Tea Party, the Republicans, Standard & Poor’s and U.S. Debt

By now you know that S&P has downgraded U.S. debt, saying"The downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenge."

Now, I doubt we'll see much change in our day-to-day living unless the financial community's greed becomes manifest, which would probably be a good bet. However, and without dwelling on it again, thank you Tea Party and cowed GOP for this.

And, to give you an idea of the "weight" of S&P, in its initial statement, it made a $2 trillion error and overstated the nation's debt.

So, the folks who brought you the financial crisis a couple of years ago, with its rave reviews of faulted and fake financial instruments peddled on Wall Street, does it again.

Yet, there remains no accountability for that travesty that occurred back then, neither for the financial community, nor for the almost, if not criminal ways of S&P and other ratings agencies.