Q & A

Eliot Spitzer

Q & A: Eliot Spitzer Rates the Ratings Agencies

In this week’s issue of The Observer, we took a look at the ratings rage caused by the recent Standard and Poor’s downgrade on long-term American debt. For the piece, we gave former New York Attorney General, Governor of the State of New York, and CNN host Eliot Spitzer a ring: as someone who dealt with the implications of ratings agencies from the standpoint of a prosecutor, a legislative executive, and as a television host, we figured a talk with Mr. Spitzer may yield at the least, some sharper talking points, and at best, some deep insight into the seemingly existential issue of how they operate. We got both. 
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SUGAR WE'RE GOING DOWN GRADING

CreditReportIllustration

U.S. Government Reportedly Bracing for S & P Downgrade That Reportedly Won’t Happen Today

Reports are filing in that a downgrade on America’s long-term credit rating (or the “AAA” status we just reaffirmed with the other two agencies, Moody’s and Fitch) is on the way from Standard & Poor’s, the agency whose credit rating the part of the country that pays attention to this kind of news has been waiting for.

Unfortunately, this was not the exact stripe of news they were waiting for. This is what you get for tempting fate. Or for never paying Columbia House. Read More