Standard and Poor’s is at it again, reeking chaos on the level of Thing One and Thing Two. They have lowered the credit rating of the United States. According to the Washington Post, the effect of the downgrade “…could push up borrowing costs for the U.S. government, costing taxpayers tens of billions of dollars a year. It could also drive up interest rates for consumers and companies seeking mortgages, credit cards and business loans. “
The people of our nation have struggled long enough with an economy that is on the brink. Curious thing though, the economy was put on the brink in part by overvalued sub-prime mortgage-backed securities. And who was responsible for the overrating these mortgage-backed securities…that’s right Standard and Poor’s.
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