liveonearth (liveonearth) wrote,

Fannie Mae should get a C, not an AA+

That's my reaction, anyway. I never got a double A+ for doing stuff that foolish. The student loan bubble has yet to pop... Probably lots of these other agencies getting downgraded are also severely compromised. No one wants to admit it for fear of causing our house of cards to topple all at once...

Economy/Business News Alert: S&P downgrades Fannie Mae and Freddie Mac
August 8, 2011 11:14:28 AM

Standard & Poor’s Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt.

The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options.

All the downgrades were from AAA to AA+.

For more information, visit

Tags: america, business, debt, economics, grades, national debt

  • QotD: Gatofeo

    An ugly cat. Vast desert. Smoke and fire. Flying lead makes holes in parchment. The ugly cat is much amused. --- Gatodamus (1503-1566)…

  • QotD: Meat

    If God had not intended for us to eat animals, how come He made them out of meat? --found attributed to Sarah Palin but have been informed that John…

  • Naturopathic Notes

    I'm cleaning out my file cabinet and just reached the naturopathic medicine file. It is full of philosophy notes from my first couple years of nd…

  • Post a new comment


    Comments allowed for friends only

    Anonymous comments are disabled in this journal

    default userpic

    Your reply will be screened

    Your IP address will be recorded