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Nothing but the truth!
By Will Power
August 8, 2011 (San Diego)--The downgrading of the U.S. credit rating by Standard and Poor was thrown into limbo when a $2 trillion dollar math error was found in their calculations. I wish my bank would make the at kind of mistake on my bank account!
Thankfully, other credit-rating agencies have not followed Standard and Poor's bad math. Moody's, another credit agency, still lists U.S. securities as AAA. How could Standard and Poor make such bad mathematical errors? Here's a clue.
Five minutes after S & P made their announcement , Republican Speaker John Boehner was on TV castigating Obama for ruining US credit. It's no secret the rich hate Obama and would do practically anything to see him fail. But if a credit agency like Standard and Poor can make such statistical errors on the basis of politics, perhaps they should be investigated by Congress.
Just a whiff of impropriety in credit reports can throw the entire economy into a tailspin. Our banks, credit unions, and stock market depends on accurate reporting. billions are at stake. To make a $2 trillion dollar error in the math is not acceptable on many levels.
The Democrats have long suspected the rich are manipulating the money supply and credit to simultaneously make a recovery impossible and to enrich themselves as well.
The Conspiracy Theory of Republican Economic Domination needs to inspect Standard and Poor's relationship with the Republican leadership and see if the whiff of impropriety leads to dirty laundry. Anything less would be a poor standard of leadership.
Will Power is a retired history teacher and creative writing instructor. The views expressed in this column reflect the views of its author and do not necesarily reflect the views of East County Magazine.
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