spain downgraded uk warned to get growth by fitch parasites these stupid rating agencies.
http://www.guardian.co.uk/world/2012...owngrade-fitch
Thick 2 short planks as they had not clue like IMF they done more harm than the crooked banks.
read this on reply could not argue against it removed the swearing mods.
freedom was always going to create greed and corruption.
There been some very decent comments such why agencies only acted after issues not before considering people use them for speculation advice.
Quote:
Fitch said it believed the recapitalisation of the struggling financial sector would be €60bn (£49bn) – double its previous estimate.
I love the way they automatically assume that "recapitalisation" of the reckless financial sector gamblers is necessary. The fools that got themselves into these over-leveraged positions should be left to drown in their self-created oceans of debt, yet the credit rating agencies, the IMF, the ECB, the European Commission, the majority of western political parties are all unanimous in their determination to make sure ordinary working people pay for the incompetence of their rich mates.
The worst thing about these neoliberal $%$% is that they demanded that "the state" stop interfering with the market with their burdensome regulations, then when the whole "free-markets can self-regulate" experiment came crashing down they suddenly and seamlessly change tune and demand that the "evil state" intervene to prevent a massive financial sector collapse.
The financial sector elite demanded deregulation to allow the development of a "Darwinian" dog-eat-dog market, now they should be made to suffer the consequences, "the state" and "the taxpayer" should wash their hands .
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