(From Wall Street Breakfast)
Fitch has affirmed the U.S.'s long-term default ratings at “AAA,” citing the country’s “unparalleled” financing flexibility as the issuer of the world’s pre-eminent reserve currency and benchmark fixed-income asset. Fitch also expects the U.S. to grow 3% in 2015, before decelerating slightly in 2016.
After 2008, do you still believe and trust the rating agencies?
Denny Schlesinger
LOL. Rating agencies are as much the court jesters of the credit markets as analysts are the court jesters of the equity markets.
Denny - the implication of your post is that you (or someone) trusted them prior to 2008 which was exactly the worst time to trust them.