German comment ("S&P declares bancruptcy of Europe's political elites") that describes S&P imo more correctly than the criticism that they manipulate the markets and want to torpedo the EFSF and the Eurozone. I do not rule it out completely, but tend to weigh their focus differently. Maybe one quarter of their interest is motivated by market manipulation in favour of their clients' interests, the rest is a summarising description of the poliitcla misery. Let'S not forget that almost all Euro-countries violate the Maastricht criterios and the stabulity pact that was there, and that france ands Portugal, as the essay also says, massively violated them for many many years.

Problem is that politicians simply are not used to getting hold responsible for their actions and effects and deciusions - or lack of. The crisis over national debts, is also a crisis over an ill-cinstructed currency - and is a crisis of the very political system itself.

But one also should not forget that S&P is far from being infallible. On the same day Lehmann collapsed, they still rated their products as triple-A - something that they never shall be forgiven for.

My answer to sp and other's of that kind!
http://img6.imageshack.us/img6/5370/18108497.jpg

Hi I am a soveriegn nation.

I have a massive army, and my citizens love it here.

Hi I am the S and P. We are a corporation. We rated all those toxic mortgage derivatives as AAA, then ran like hell when the house of cards fell.

Now we are downgrading you.

Sovereign nation: *whimpers* Yes daddy dollar.

I can't wait for the pitchforks to come out, I will be there too...(got that alphabet agencies?)

I hope our national guard is up for firing on civilians. I wonder if the French equivelent is willing to as well.

You can only kick a meek dog so many times before he bites your foot off, and rips out your throat when you stumble.

that's a nice poem, as I sit here at my desk looking out the window at the gun shop across the way, watching people come and go, I'm amazed at how many people have come and gone, the business has done so well that the owner was able to buy a new ford pickup, it won't be pitch forks the sheepople will have, I can grauntee you that.

One thing we can both agree on yubba, is the right to bear arms.

Deep down inside I knew I liked you for a reason.:)

S&P are trying to make up for being late last time back in 2008 by being prompt now, I still have a feeling there not.

The French elections just looked more interesting now.

Meanwhile it is reported that bureaucrats have already watered down and softened up the so-called "fiscal pact" that with a loud fanafre was "decided" just in Decembre. No more debt-break in nation'S constitutions. No more automatism in penalising sanction against budegt offenders. No more independent monitoring of nations' fiscal desicipline. No more sanctions possible without other nations agreeing on them. No role for the EU court or the EU comission.

Nothing new at all.

Hahahaha!

But they are wondering why S&P downgrades them, eh, and the EFSF along with them, eh...???

When I'm in a grim mood, I have started to hope that Germany pays for it all indeed, and gets crushed. For if the German people let their political "elites" (oh what optimism in that term) get away with agreeing to this, I honestly think that Germany has become so dumb and stupid and careless a place with such an idiotic population living there that they really deserve to be abused and ripped off as much as possible and as heaven allows. It'S the same diabolic joy I get from that image that a little kid feels when building high towers with wooden blocks and then enjoys to tip it with a fingertip and see them collapsing.

If you want to really mess up something, leave it to politicians. Or to the people. I have started to wonder if both really make a difference, for the one seems to be as stupid and unresponsive as the other. Maybe both deserve each other?

Gee thanks, now you got me all misty eyed. I don't think it will be long before we will be fending off the wolves at our door, you ought too see the crazy crap that goes on here in central florida, can't even have a sweet sixteen party without somebody getting shot at. Just wait till the union thugs and the occupiers start wanting more than they deserve and come knocking on our door, in the name of redistrabution of wealth, as our so called leaders call it, I about have nothing left but lead, when the time comes, I would gladly give it too them. I hear the wolves, knocking at my door arappa tap tap, they say I must give more to them, rappa tap tap, I tell them I have no more, to give to them, arappa tap tap arappa tap tap, they say I have a roof over my head, they will just go ahead and take that, arrapa tap tap, my reply is rappa tap tap arrapa tap tap now that all my clips have run dry, no more wolves, I hope this will never come to be, Lord help us all.