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Qtec
04-22-2011, 12:30 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> ATHENS, Greece Greece's prime minister has lashed out at credit ratings agencies, as borrowing rates in the crisis-hit country at record levels threaten plans to return to the bond markets next year.

George Papandreou in a written statement posted on a government website early Friday said the agencies, instead of elected governments, "are seeking to shape our destiny and determine the future of our children."

Major rating agencies have all relegated Greek bond status to below investment grade amid the continuing debt crisis. The move has angered the government which argues the fiscal benefits of its austerity program are being ignored.

<span style='font-size: 14pt'>Yields on 10-year Greek bonds rose above 15 percent, compared with the German benchmark rate of 3.27 percent, before the Easter long weekend.</span></div></div>

link (http://www.huffingtonpost.com/2011/04/22/greek-prime-minister-papandreou-ratings_n_852451.html)

Still no remorse.

Q

pooltchr
04-22-2011, 01:09 PM
So you have a problem with an independent agency evaluating risk? Is it any different than having the credit agencies creating a credit score for individuals that is used to determine what kind of loans anyone can get?

Do you think someone who is a bad credit risk should get the same options as someone who has proven to be a good credit risk?

John has a job that pays him $100k per year, and has never been late making a loan payment in his life.
Fred is unemployed, and has a history of late payments every month for years.

Both of them come to you to borrow $10k. Which one do you want to loan money to? Why? and how do you know?

Steve

LWW
04-22-2011, 02:20 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> ATHENS, Greece Greece's prime minister has lashed out at credit ratings agencies, as borrowing rates in the crisis-hit country at record levels threaten plans to return to the bond markets next year.

George Papandreou in a written statement posted on a government website early Friday said the agencies, instead of elected governments, "are seeking to shape our destiny and determine the future of our children."

Major rating agencies have all relegated Greek bond status to below investment grade amid the continuing debt crisis. The move has angered the government which argues the fiscal benefits of its austerity program are being ignored.

<span style='font-size: 14pt'>Yields on 10-year Greek bonds rose above 15 percent, compared with the German benchmark rate of 3.27 percent, before the Easter long weekend.</span></div></div>

link (http://www.huffingtonpost.com/2011/04/22/greek-prime-minister-papandreou-ratings_n_852451.html)

Still no remorse.

Q

</div></div>

You truly haven't the slightest idea how economics works do you?

Here's a thought.

Buyer A wants to buy a new car. They have a down payment, sufficient income to repay the debt, and a history of repaying debts on time. They get a 3% rate.

Buyer B has none of those things and gets a 15% rate.

Is this unfair?

LWW
04-22-2011, 02:21 PM
I see you gave pretty much the same analogy, but then you also have a brain and some education.

pooltchr
04-22-2011, 02:28 PM
But that just isn't FAIR!!!!!

Steve

Gayle in MD
04-22-2011, 02:43 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> ATHENS, Greece Greece's prime minister has lashed out at credit ratings agencies, as borrowing rates in the crisis-hit country at record levels threaten plans to return to the bond markets next year.

George Papandreou in a written statement posted on a government website early Friday said the agencies, instead of elected governments, "are seeking to shape our destiny and determine the future of our children."

Major rating agencies have all relegated Greek bond status to below investment grade amid the continuing debt crisis. The move has angered the government which argues the fiscal benefits of its austerity program are being ignored.

<span style='font-size: 14pt'>Yields on 10-year Greek bonds rose above 15 percent, compared with the German benchmark rate of 3.27 percent, before the Easter long weekend.</span></div></div>

link (http://www.huffingtonpost.com/2011/04/22/greek-prime-minister-papandreou-ratings_n_852451.html)

Still no remorse.

Q

</div></div>

Any well informed American, know how the Rating Agencies were corrupt, and how their corruption, was greatly responsible, for the crash.

No reasonable person, could deny that corruption in the rating agencies, at the banks, financial institutions, LIKE Lehmann, Goldman, BOA, WAMU, bilked the country out of trillions in treasure....!

We had no choice, but to bail them out, in order to avoid a devastating Bush Depression.

The right, STILL doesn't get it!!!!


Unbelievable!

G.

G.

LWW
04-22-2011, 02:54 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><span style='font-size: 26pt'><span style='font-family: Comic Sans MS'><span style="color: #333399">B-B-B-BOOOOSH D-D-D-DID IT!!!!</span>

<span style="color: #FF6666">CH-CH-CH-CHENEY IS A FR-FR-FR-FRACKER!!!!</span>

<span style="color: #FFFF33">P-P-P-PALIN WENT CLOSE TO A B-B-B-BEAR!!!!</span>

<span style="color: #999900">R-R-R-RAY G-G-G-GUN CAUSED CONTROLLERS TO FALL ASLEEP WATCHING MOOOOVIES!!!!</span>

<span style="color: #6666CC">THE K-K-K-KOCH BROTHERS ..... AIIEEEE THE K-K-K-KOCH BROTHERS!!!!</span>

<span style="color: #990000">B-B-B-BIG OIL!!!!</span>

<span style="color: #FFFF00">OH - BAAAAAAA - MUH!!!!</span>

<span style="color: #6633FF">OH - BAAAAAAA - MUH!!!!</span>

<span style="color: #CC0000">OH - BAAAAAAA - MUH!!!!</span>

<span style="color: #999900">OH - BAAAAAAA - MUH!!!!</span>

<span style="color: #33CCFF">OH - BAAAAAAA - MUH!!!!</span>

<span style="color: #FF9900">OH - BAAAAAAA - MUH!!!!</span></span></span>

</div></div>

Fixed it for you.

pooltchr
04-22-2011, 03:04 PM
Poor Gayle. She thinks the whole world is corrupt except for the Democrats, who are collectively one of the most corrupt groups of humans on the face of the earth.

Steve

cushioncrawler
04-22-2011, 04:47 PM
The greeks, and others, and everyone else, will be sick for a long time.
Krappynomix rules.
mac.