THE UNLIMITED AND MANIPULATIVE POWER OF RATING AGENCIES

GREEK DOWNGRADING BY 

STANDARD & POOR’S, DESPITE EU FINANCIAL ASSISTANCE 

As mentioned in my previous blog, date 29 June 2011, USA rating agencies are far too influential, especially when it comes to US based agencies. Today STANDARD & POOR’S proved how they are manipulating the “FINANCIAL MONOPOLY GAME” and how the entire EUROPEAN UNION is hostage of these agencies who are jeopardizing the bailout plan for GREECE.

It seems as if RATING AGENCIES are treated like the Holy Grail. Everyone in EUROPE seems to adhere to their doctrines despite the fact that EU law inexplicably states that the EU can divert from these agencies, especially if there are doubts regarding their impartial evaluations.  

 

See: http://www.nytimes.com/2011/07/05/business/global/05iht-euro05.html?_r=1&hp