Fitch warns that a failure to avert the fiscal cliff will increase the likelihood that it will...


Fitch warns that a failure to avert the fiscal cliff will increase the likelihood that it will strip the U.S. of its AAA rating. Falling over the edge "would exacerbate rather than diminish the uncertainty over fiscal policy, and tip the US into an avoidable and unnecessary recession," Fitch says in its 2013 global outlook.
Comments (4)
  • Hypnos7
    , contributor
    Comments (137) | Send Message
     
    The power of rating agencies to state the obvious is remarkable.
    19 Dec 2012, 06:37 AM Reply Like
  • User 509088
    , contributor
    Comments (1702) | Send Message
     
    like when they labelled mbs drek as primo.
    19 Dec 2012, 07:00 AM Reply Like
  • birder
    , contributor
    Comments (1453) | Send Message
     
    That is odd. Going over the fiscal cliff will dramatically improve the finances of the government over what they currently are so Fitch thinks the rating should be cut. Of course only a complete idiot would have given AAA to the US government to begin with. In my book about BB- is about right.
    19 Dec 2012, 08:17 AM Reply Like
  • davidingeorgia
    , contributor
    Comments (2661) | Send Message
     
    File this story under "desperately trying to regain credibility lost in the banking crisis".

     

    And yet another epic FAIL on that count.
    19 Dec 2012, 12:18 PM Reply Like
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