S&P Accidentally Downgrades France
The same ratings firm that held the United States hostage to its debt demands and gave the thumbs up to toxic mortgage assets is again in the news for bungling things. Standard & Poor's accidentally announced a downgrade Thursday of France's AAA credit rating.
The same ratings firm that held the United States hostage to its debt demands and gave the thumbs up to toxic mortgage assets is again in the news for bungling things. Standard & Poor’s accidentally announced a downgrade Thursday of France’s AAA credit rating.
S&P is investigating the false announcement.
With all these foul-ups, one wonders what rating Standard & Poor’s would get if someone bothered to evaluate the raters, themselves. — PZS
Your support is crucial...BBC:
Standard & Poor’s accidentally released a message to some of its subscribers on Thursday saying that it had downgraded French debt from its top AAA rating.
S&P said it was investigating what had gone wrong and stressed that France still had an AAA rating.
The French market regulator AMF said it was also investigating how the error could have happened.
As we navigate an uncertain 2025, with a new administration questioning press freedoms, the risks are clear: our ability to report freely is under threat.
Your tax-deductible donation enables us to dig deeper, delivering fearless investigative reporting and analysis that exposes the reality beneath the headlines — without compromise.
Now is the time to take action. Stand with our courageous journalists. Donate today to protect a free press, uphold democracy and uncover the stories that need to be told.
Economic Justice
Elizabeth Warren (D-Massachusetts) and J.D. Vance (R-Ohio) have joined forces in a rare bipartisan effort to make top executives pay for their mistakes.
Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
Because our banks aren't nationalized, its inability to work with Congress has resulted in another botched attempt at crisis management.
Its forced choice to bankroll hedge funds and other speculative ventures in repo market comes at a price to the middle class.
The Massachusetts senator and Democratic presidential contender wants to make it harder for big banks to prey on consumers.
The threat of a U.S. technology company taking up the model set by China's WeChat Pay and Alipay may now be materializing.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.