Sentinel

The World's 50 Safest Banks in 2009

Just to make my point, S&P just DROPPED Bank of America's rating from the laughable A+ to an equally laughable A.

So...you can buy a failing investment bank like Merrill run by that con-man Thain who took BoA's CEO for a ride AND you can buy Countrywide which was nothing but a scam house run by a scam artist and you CAN STILL get away with an A rating?

Hey S&P.....I just found some derivatives in my foot locker. Could you kindly rate them AAA for me so I can unload them on some sucker bankster like Ken Lewis?

S&P did cover their ass by saying that "future ratings could go lower."

YA' THINK?

ROTFLMAO!!

The World's 50 Safest Banks in 2009

" The list was compiled based on the comparison of long-term credit ratings and total assets of the 500 largest banks in the world. The ratings were issued by Standard & Poors, Moody’s and Fitch. "

That's all you need to know that this list is utter Bullsh%t !

Most, if not all, the credit ratings from these frauds have been utter lies. That is PRECISELY the reason we have this Debt Bubble Explosion.

S&P, Moody's and Fitch were all competing for each other's business as the purveyors of these worthless derivatives went shopping for the best rating that money could buy. The rating agencies ALL KNEW they were worthless yet gave them AAA ratings.

What could possibly make ANYONE think these liers, these frauds have any credibilty in ranking banks on credit-worthiness or assets when the banks are shot through with worthless debt based derivatives and foreclosed assets most of which the banks are refusing to even bring to the light of day?