Saturday, August 06, 2011

After U.S. downgrade, liberals attack messenger

New York Times columnist Paul Krugman called the downgrade "an outrage" and accused S&P of "just making stuff up." "Apparently we're supposed to care about what some idiots at some corrupt organization think about anything."

S&P's performance was considred "amateur hour" and investors cited a $2 trillion math mistake made in an earlier S&P assessment.  Another anonymous administration official added: "A judgment flawed by a $2 trillion error speaks for itself."

IMO: On the face of it, it looks exactly like that. Of course, there are some figures given by the BBC which are none too persuasive but I tend to agree with these commentators. 

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