January 17, 2012

And the Markets Didn't Give a Damn What S&P Said

People demonstrate with "a" placards in front of the headquarters 
of Standard & Poor's in Paris.
First of all let me state that I generally don’t like people who say, “I knew it was going to be like that.” But now I’m going to contradict myself by saying, “And sure enough, the markets didn’t give a damn what Standard & Poor’s said.” In fact they shrugged off S&P decision to downgrade the credit ratings of nine euro-zone countries. Parallely, it was no surprise, too, that Standard & Poor’s axe took another swing at Europe Monday, this time stripping Europe’s bailout fund of its AAA status. Even in this case we could apply the same scheme as that applied above: Quod erat demonstrandum



Recommend this post on Google!


Related Posts with Thumbnails