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Rating Agency Issues Greek Rescue Plan Warning

  • 04-07-2011 8:57pm
    #1
    femur61
    Registered Users, Registered Users 2 Posts: 1,588 ✭✭✭


    Standard and Poors said effectively that the rolling ovr by French banks in regard to Greeces debt crisis is effectively a default. http://www.spiegel.de/international/...772284,00.html

    If this fails would it trigger a Lehmans style catastrophie. This is so worrying as they admit they have no plan B
    user_online.gifreport.gif progress.gifStandard and Poors said effectively that the rolling ovr by French banks in regard to Greeces debt crisis is effectively a default. http://www.spiegel.de/international/europe/0,1518,772284,00.html

    If this fails would it trigger a Lehmans style catastrophie. This is so worrying as they admit they have no plan B


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,624 ✭✭✭✭coylemj


    That would be one of the ratings agencies which got paid to slap a 'AAA' rating on bonds based on sub-prime mortgages which proved to be crocks of sh1te?


  • #3
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    Moved to Investments & Markets.

    I&M Mods, sorry if this is the wrong place for the thread, feel free to send it back. :)


  • #4
    kippy
    Registered Users, Registered Users 2 Posts: 18,988 ✭✭✭✭kippy


    coylemj wrote: »
    That would be one of the ratings agencies which got paid to slap a 'AAA' rating on bonds based on sub-prime mortgages which proved to be crocks of sh1te?

    Yep,
    It's a bit late crying wolf now I'm afraid.

    Not saying the agencies are wrong in doing what they are doing but they really are 4+ years too late.


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