Skip to comments.Fitch Ratings: ‘Negative’ outlook for U.S. credit rating
Posted on 11/28/2011 4:30:49 PM PST by ColdOne
Following the failure of the supercommittee, the U.S. governments AAA credit rating was placed on a negative outlook Monday by Fitch Ratings, indicating a more than 50 percent chance the country gets slapped with another downgrade in the next two years.
By postponing the difficult decisions on tax and spending until after forthcoming congressional and presidential elections, the scale and pace of required deficit reduction will consequently be greater, Fitch said in a statement. Conversely, failure to reach agreement in 2013 on a credible deficit reduction plan and a worsening of the economic and fiscal outlook would likely result in a downgrade of the U.S. sovereign rating. Fitch for the time being didnt change the triple A credit rating.
(Excerpt) Read more at politico.com ...
Nothing is going to change until Barry and his commie ‘RATS are thrown out into the street.
“Nothing is going to change until Barry and his commie RATS are thrown out into the street.”
Barry does what he’s told. This is way above his pay grade.
The Fed made $16.1 trillion in secret loans to their banker friends since the financial crisis.
Out of all borrowers, Citigroup received the most financial assistance from the Fed, at $2.5 trillion. Morgan Stanley came in second with $2.04 trillion, followed by Merill Lynch at $1.9 trillion and Bank of America at $1.3 trillion.
Approximately $3.08 trillion in nearly interest-free loans went to foreign financial institutions all over Europe and Asia.
The $16 trillion loan averages out to $12.5 billion per day in overnight loans for the last 3.5 years, i.e., the entire $16 trillion was never outstanding at any given time.
So who gave the Federal Reserve permission to bail out financial institutions all over the world? Nobody did.
The Fed and the big banks are one and the same. This is the real story.
They also paid their bankster friends over $600 million to help the Fed manage the lending process.
The Fed provided conflict of interest waivers to bank employees and contractors so they could keep investments in the same financial institutions and corporations that were given loans.
In fact, the Federal Reserve ended up having the banksters basically run the entire emergency lending program. This is a classic case of the foxes watching the hen house.
Basically the Fed -- an unaccountable private monopoly -- creates our money, sets our interest rates, regulates our banking system and makes secret loans to whoever they want.
And was Fed money used to pay off the TARP loans? We're told what a good investment TARP was and how we've made money on the loans. Just like GM using one set of loans to pay back another set of loans and then crowing about their taxpayer bailout (it was all just a shell game).
I bagged out of the market completely today