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S&P Raises FFH Credit Rating Above Junk Status


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I imagine everyone saw the headline by now. 


Does anyone think this is a mite strange.  FFH is providing credit to a number of companies because they have available cash (it is in the float).  However, This is cash that generates income which could be used to pay down any debt. 


These same rating agencies rated tranches of bad mortgages as triple A credit.  These are also the same agencies who are toying with lowering GE from Triple A to something lower. 


At what point does anyone care about the ratings?  If everyone gets lowered below AAA except BRK then does AA not become the new AAA.  Its pretty obvious to anyone insuring with FFH or buying their debt that they are good for the money so what is the point. 

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AIG was a AAA company not so long ago...


How can we trust these guys? When you take a look at a rating, you think that able people have reviewed the books and gave an appropriate rating based on a good knowledge of facts and risks.


Maybe they are very good in other industries, but in financials...



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