The gods are roaring in heavenly aisles. What a big joke for S&P [Standard & Poors] who got away with profiting from kickbacks from big bracket banks -- Goldman Sachs, JP Morgan Chase, Citi, Lehmann, Morgan Stanley, UBS & the like -- by rating suspect financial instruments like CDOs & co. that sent the world into a global recession bordering on a depression, now is threatening the US to downgrade its debt with the fractious American government cannot agree on a draconian budget allowing the Republicans in the pay of the robber barons to put the burden on the shoulders of the poor, the needy, and the growing misery for the ordinary American.
The clever by half senior management of S&P and its sisters Moody's and Fitch should now be behind bars as should the big shots of the big bracket banks who benefitted grandly from the US ratepayers' largesse. [For an apercu of just how perverse the bailout was with handing out billions without control, GuamDiary suggests reading Matt Taibi's 'Real Housewives of Wall Street' in the 28 April issue of the 'Rolling Stone' magazine. Taibi has smoked out the wives of fat cat bankers who know nothing about money, yet paralayed a low ball investment into a billion dollar ponsy game bilking the US public in the way a cannibal feasts on the flesh of his victim!]
Now the chickens have come home to roost: since the Obama administration did not break the backs of the Wall Street and Credit Ratings mafia, it has become their victim with the help of the rich and super rich swooping down on vultures feeding off the carcus of progressive legislation that assure and insures a more level playing field for the American people.
S&P's threat will make the reactionary monied forces behind the scenes to fund even more the benighted sellout Republicans who line their own pockets and say 'the devil be damned' in putting the interests of the little people who ignorant or fooled by campaign rhetoric, first and foremost.
Is the time past to smash S&P & co. with the billy club of the law?