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What a headline!

September 20, 2011

The title of this NYT article got my attention: Italy Rejects S.&.P. Downgrade. Why didn't the U.S. think of that?

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You didn't think this was over, did you?

August 17, 2011

The Justice Department has been looking into S&P for mortgage-related fraud: The investigation began before Standard & Poor’s cut the United States’ AAA credit rating this month, but it is likely to add fuel to the political firestorm that has surrounded that action. Lawmakers and some administration officials have since questioned the agency’s secretive process, […]

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A funny thing happened on the way to the downgrade

August 9, 2011

The most interesting thing about yesterday's market action was the behavior of the Treasury market: It rose. If the market collapse was really about investors reacting negatively to the United States' new, lower credit rating, why on earth would replace their stocks with a direct investment in that very same government? We can only know […]

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