[NonValueAdded]

Well, that they rate anything and everything isn't the problem, it is that they erroneously rate them. Thus We The People, demanding nothing but AAA-rated debt, end up with a portfolio of junk. Making you Poor is Standard operating procedure, I guess. Fits right in with Obama's plans for The Great Leveling™, doesn't it?

[BobS]

Is this because The New York Times has $1.1B in debt and has only $46M cash on hand? Junk bond city. That's the first thing the ratings agencies look at. Then they look at property.

They should re-evaluate the NYT property value right now to see if that debt can be covered.