"... the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.”
Who made Standard and Poor's the judge of America's Political system? I don't remember voting for them...
I have always wondered how credit reporting agencies avoid being sued for slander and defamation of character.
The US did not default, but based solely on opinion S&P downgraded its credit rating.
Also if the downfall of the United States could result from such a lowered credit rating, as many have said, would this downgrade by a US based company violate Article III section 3 of the US Constitution (treason)?
Especially in light of the fact that S&P announced that its dissatisfaction with our political ssystem was part of the reason for its downgrade?
You make a good point, I think art must be in a different category (movies). Now if I said a hotel was filthy when it was immaculately clean, they could sue me. I always figured that with the credit agencies in the USA keeping up with 350 million people and they have been known to make mistakes, that the liabilities created by their mistakes would run them out of business.
Part of my concern is that Standard and Poors is downgrading the USA for having a political system which it has had all along, and their assessment would favor dictatorships over Democratic Republics, downgrading the USA essentially for being a Democratic Republic.