DannyBoy29

Will Berkshire Lose Its Triple-A?

I find it amazing how much power we still allow the rating agencies to have over our market. I'm not saying the reason AIG fell was a credit downgrade but I think all will agree it was the "death blow."
If you read this and the GE article poosted here and on minvanville you see that the largest risk to Berkshire and GE are a loss of their AAA rating.
I'm not invested long or short in GE or Berkshire but how could we let S&P and Moody's (well I guess not Moody's in Berkshire's case since Buffett owns some Moody's) have so much power after the job they have done? Scary stuff to think about.........