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Thursday, May 17, 2012

Have We Been Here Before? -- All About Greece, Not the Bakken

Updates

Later, 1:55 p.m.: This doesn't sound as bad as last summer.
Fitch on Thursday sliced Greece’s long-term credit rating to CCC from B-, citing a “heightened risk” Greece won’t sustain its membership in the eurozone.

Original Post

Headline at Drudge, but no link yet: "Fitch slashes Greece."

Flashback, July 14, 2011: The Fitch rating agency Wednesday downgraded Greece's credit rating to just one grade above default status. Greece may receive a second bailout to prevent its crisis from destabilizing other European countries.

Comment: either we've been here before or Fitch has put Greece into default status. Unless they've added some "grades" between where they were last year (one grade above default) and default.

I will continue to watch for the link.
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2 comments:

  1. AnonymousMay 17, 2012 at 1:32 PM

    If we've learned anything in the past few years, it should be that ratings are meaningless.

    ReplyDelete
  2. Bruce OksolMay 17, 2012 at 1:34 PM

    Wow, isn't that the truth --- ratings are meaningless. That's why I posted this. It's a joke -- the ratings.

    It was this way a year ago and this still merits a huge red headline from Drudge? Give me a break.

    Thank you for letting me rant and rave.

    ReplyDelete

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