Rating Agencies Timely Once Again!

[Parsad]

Well, it looks like the rating agencies could not have gotten their timing any better.  S&P may cut Berkshire's AAA-rating now that the markets have already tanked 50%, and Moody's cut WFC's preferreds into junk territory now that lending and deposit spreads are the widest in nearly 100 years!  Cheers!

 

http://www.marketwatch.com/news/story/sp-says-may-cut-berkshire/story.aspx?guid=%7B2C5C12BB%2DEE6A%2D4308%2D8430%2DF69251F111F1%7D&siteid=yhoof

 

http://finance.yahoo.com/news/Moodys-cuts-key-ratings-of-apf-14744415.html

 

 

[arbitragr]

As is expected ... Moody's is always the last to downgrade.  :P

 

If BRK is not AAA, then hardly anything in the financial world is.

 

 

Well, it looks like the rating agencies could not have gotten their timing any better.

 

And ... after the markets have rallied 20-30% in the last week or so. Great timing indeed ...  ;)