Standard and Poor threatening Greece

I just saw an article in one of the Swedish newspapers about the crisis of confidence in Greece. One point that was made was that Standard and Poor has threatened Greece that their creditworthiness can be damaged.

Is this the same Standard and Poor which rated toxic credit as AAA a couple or three years ago, and, together with Moody’s and the other credit agencies, played a big role in unscrupulous finance institutions being able to unload the shit onto unsuspecting individuals, councils, charities and other investors who trusted them?

Doesn’t sound like much of a threat to Greece. More of an honourable mention.

Come to think of it, the names of these agencies: Standard and Poor. Well, poor at least is what those investors are. And Moody’s? Well yeah, I guess I’d be pretty moody if someone told me that toxic waste was a good investment.

© James Wilde 2015