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What and Who is the S&P? It's a Secret!!!! (Of course)

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posted on Aug, 9 2011 @ 02:20 AM
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Some right leaning reporters have been digging around, trying to figure out which of our country's Powers That Be are sitting in the S&P office deciding the fate of a country by rendering its credit rating.

When the phone was answered at the old S&P office, the reporters were told, "We're sorry. We're not allowed to tell you that." It's a secret folks. What a surprise.

Here's what I do know: These folks who can wreak havoc on a country with their credit rating are not elected officials and are not accountable for their decision making process!

So, what exactly is the S&P? Anyone know?

It's a financial services company (private) and it's also a division of MGraw Hill (a publishing company.) They conduct a lot of research on stocks and bonds--and publish indexes that throw out a lot of numbers pertinent to the economy. THEY ARE ALSO A CREDIT RATING AGENCY.

That's a pretty serious job---right? Rating the credit score of an entire country? As we can all see, this credit rating can either make or break a country financially.

But get this: The S&P was criticized a few years ago in the wake of large losses beginning in 2007 in the mortage crisis.

Why?

Because they were giving credit ratings of AAA (the highest rating available) to even the riskiest pools of loans. Investors trust those AAA ratings, and so they purchased large amounts of mortgages, etc. that later became unsalable. Those that could be sold often took staggering losses.

In short, the S&P gave the highest ratings to the riskiest companies, and helped to create this economic disaster that we're in now.

How interesting that the very company that helped to create this mess is now giving out credit ratings to the country it helped to destroy.

Another issue that has concerned commentators is that an S&P rating — for example, of the US government or any other national government — can have a distinct effect on a truly global scale, but the decision on these ratings are made by the company's employees who are not elected by the public, and are not accountable for their decision making process. There is no appeals process against a credit-rating decision.

And by the way.... we don't know who these people are.

We're not allowed to know.

Just call and ask.

What do you think?




posted on Aug, 9 2011 @ 02:35 AM
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Originally posted by MRuss
What do you think?



S&P are not the group to issue credit ratings on countries.
The problem isnt so much that S&P might have a secret way of doing it, its that the ratings they issue are taken so seriously by people in the financial industry.

You yourself can start issuing credit ratings for countries. The MRuss rating.
You yourself can remain a secret organisation, giving out no clues as to who you are or how your arrive at your conclusions.

They only difference is those sheeple (yeah, theres that word again) at Wall street wont fall over your ratings like they're the gospel truth.
That where the real problem lies. No questioning of the figures, no independent thought.



posted on Aug, 9 2011 @ 02:57 AM
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The s and p is not a group of people, its a representation of a collective of business shares. It's the combined values (gains and losses across the board) of standard and private companies that operate in the stock market. When you see drops like what's happening now in Dow and s&p what your seeing is the combined gains and losses of them all, meaning, behind the scenes some companies had losses and some gains, there are many companies that lose almost everything whereas some don't even flinch when hit by the overall stock loss bullet.

It's just an overall representation.



posted on Aug, 9 2011 @ 02:59 AM
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reply to post by MRuss
 


I smell a Rothschild or someone from a similarly "elite" family.



posted on Aug, 9 2011 @ 03:07 AM
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When you see government parties holding America hostage and using the media like a couple of wealthy 5 year olds fighting over a cookie, and the only thing that happens is a time out and a lower credit rating and they cry even louder.....you know we've got problems. I say fire every single one of the brown nosing losers. They should actually commit suicide, starting with Obama. At least go out with some sort of dignity!



posted on Aug, 9 2011 @ 03:36 AM
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The S&P is essentially an overblown lobbying arm of the international banking community. If an entity falls out of favor with the rest of the banks, BAM! credit downgrade. Further, they carry out the sentences dictated behind closed doors by the IMF against countries that don't follow that evil institution's commands in lockstep. This is what happened with the USA... the government did not fully implement the IMF's demand for full on Greek level austerity measures, thus: S&P stepped in like the good little lapdog they are and downgraded the US.

Funny thing is, I still fully believe that it was a token gesture at best and had little bearing on the eventual outcome of the global economic machine. The world was slowly collapsing. The downgrade gives the IMF a scape goat other than the idiots that thought the EU was a good and sustainable idea to point at for global failure.



posted on Aug, 9 2011 @ 09:30 PM
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Who is S&P? (owned by McGraw Hill, which incidently publishes school text books and controls what our kids learn)

Major Shareholders:


McGraw-Hill STATE STREET CORPORATION 13,219,460 VANGUARD GROUP, INC. (THE) 12,700,984 OPPENHEIMER FUNDS, INC. 11,583,534 PRICE (T.ROWE) ASSOCIATES INC 10,123,060 BlackRock Institutional Trust Company, N.A. 7,541,685 DODGE & COX INC 7,145,277 FIDUCIARY MANAGEMENT, INC. 6,241,434 Capital World Investors 37,498,950

Citigroup (a major NYFED bank) STATE STREET CORPORATION 109,336,377 VANGUARD GROUP, INC. (THE) 106,566,654 FMR LLC 94,647,036 BlackRock Institutional Trust Company, N.A. 69,300,847 JP MORGAN CHASE & COMPANY 54,420,770 Capital World Investors 51,039,134 PAULSON & COMPANY, INC. 41,272,220 Bank of New York Mellon Corporation 32,334,689

Wells Fargo Bank: BERKSHIRE HATHAWAY, INC 342,623,925 6.48 STATE STREET CORPORATION 201,430,222 3.81 FMR LLC 199,105,601 3.76 VANGUARD GROUP, INC. (THE) 187,182,216 3.54 Capital World Investors 167,562,496 3.17 WELLINGTON MANAGEMENT COMPANY, LLP 152,451,637 2.88 BlackRock Institutional Trust Company, N.A. 127,846,678 2.42 DAVIS SELECTED ADVISERS, LP 93,493,190 1.77 DODGE & COX INC 90,998,349 1.72 JP MORGAN CHASE & COMPANY 88,094,321 1.67

Bank of America (BOA) STATE STREET CORPORATION 459,140,568 VANGUARD GROUP, INC. (THE) 367,462,397 BlackRock Institutional Trust Company, N.A. 258,068,893 JP MORGAN CHASE & COMPANY 212,406,485 Capital Research Global Investors 139,198,856 JANUS CAPITAL MANAGEMENT, LLC 138,866,931 WELLINGTON MANAGEMENT COMPANY, LLP 128,084,369 Capital World Investors 125,333,396 PAULSON & COMPANY, INC. 123,634,429 FMR LLC 121,244,950

JP Morgan Chase STATE STREET CORPORATION 163,393,908 VANGUARD GROUP, INC. (THE) 144,458,569 FMR LLC 129,731,859 PRICE (T.ROWE) ASSOCIATES INC 106,375,235 BlackRock Institutional Trust Company, N.A. 105,992,018 WELLINGTON MANAGEMENT COMPANY, LLP 89,651,480 Capital Research Global Investors 82,353,239 Capital World Investors 55,091,800 Bank of New York Mellon Corporation 54,615,722

Goldman Sachs STATE STREET CORPORATION 20,744,311 Capital World Investors 19,599,110 VANGUARD GROUP, INC. (THE) 18,311,709 BlackRock Institutional Trust Company, N.A. 13,372,248 MASSACHUSETTS FINANCIAL SERVICES CO - OTHER 11,518,906 AllianceBernstein, L.P. 10,139,709 JP MORGAN CHASE & COMPANY 9,531,309 WELLINGTON MANAGEMENT COMPANY, LLP 8,374,730 FMR LLC 7,462,573 FAIRHOLME CAPITAL MANAGEMENT 6,702,300


source


edit on 9-8-2011 by coyotepoet because: link



posted on Aug, 9 2011 @ 09:33 PM
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reply to post by coyotepoet
 


Very good. I was just about to write that myself.

Just remember SP are the same people that backed Lehman Brothers late into the game. IMO, they ave no credibility ( or very little ). France's rating is > than ours. That shouldn't be right.



posted on Aug, 9 2011 @ 09:48 PM
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reply to post by Dance4Life
 





Just remember SP are the same people that backed Lehman Brothers late into the game. IMO, they ave no credibility ( or very little ). France's rating is > than ours. That shouldn't be right.


And they gave all the mortgage back security's AAA rating before the housing market crash. I've been listening to the radio the last few days and just shaking my head. The MSM is playing it off like that was just an error in judgement on their part and that they are just being more cautious now. BULLS**T! They knew exactly what they were doing back then. They were committing fraud and lying to investors pure and simple. How dumb do they think we are?



posted on Aug, 9 2011 @ 09:52 PM
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reply to post by coyotepoet
 


Pretty dumb. Most are at least. You can't really argue that though.


Anyway, the yield on our bonds is the only real truth. Doesn't matter if we are A,B,C

Right now the market says we are AAAA++++++++




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