A representative from S & P this morning on Newstalk said "Changes in Government needed to win back confidence "
Newstalk - Ireland's National Independent Talk Radio Broadcaster - News
Is this a tipping point for Cowen, will this make the Independents or a FF backbencher or 2 all the more uncomfortable ahead of next weeks budget votes. I have to say I was surprised that the S & P man was so forthcoming with his opinion, the pressure is on.
Cyberianpan says:
Changes in S & P needed to win back confidence.
S & P & other ratings agencies failed the world in the past decade , arbitrarily handing out AAA ratings to junk assets
S & P have not redeemed themselves and are wholly incredible
cYp
"Yawn , am I alive yet ?"
Yeah it's S and P's fault
The bond markets still rely on S&P and the other rating agencies, so dismissing them as irrelevant betrays a fundamental lack of understanding as to how the real world operates.
Agreed! Morning Ireland's piece on this story this morning displayed an even greater ignorance. Don't shoot the mesenger kids!Originally Posted by hmmm
The corporate markets are close to illiquid, and sovereign markets are somewhat tepid
Risk assessment failed massively during this crash, simplistic models like CapM are out the window now, hopefully the efficient markets hypothesis is canned as well. New thinking is needed in this area.
We need to stop listening to buffoons like S & P : they are old guard failures.
cYp
"Yawn , am I alive yet ?"
Agreed. Wish John Murray let that bloke finish at least one sentence!
Regardless of the credibility of the source, the message rings true.
Bar some die-hards blinded by their love for Fianna Fail, no one has any confidence in this government.
I predicted this several months ago, that whoever ultimately bails us out will want changes in personnel in government and regulation, so I'm not that surprised. Clearly the financial markets have zero confidence in Cowen.
"Elite - a small superior group; esp one that has a power out of proportion to its size." (Oxford English Dictionary)
The majority cannot therefore be the elite.
You mean to say the International money markets have no confidence in Mary Coughlan et co ?
I find this hard to believe !
I believe that children are the future
Unless we stop them now.
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