ST Alpha - "The point is they said "the math supports it" until shown that the math was wrong. Then switched to "Oh, it wasn't the math, it was the process."" (Reading a Post)

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In response to "It wasn't the only reason for the downgrade. And the statement they issued gave reasons that weren't math for the downgrade. -- nm" by the liioulu with

The point is they said "the math supports it" until shown that the math was wrong. Then switched to "Oh, it wasn't the math, it was the process."

Posted by TWuG Aug 7 '11, 14:28

Is the process in Washington fucked up? Sure.

But in the end the ceiling was raised, the debt was secure and S&P is unwilling to back down in the face of a rather large mistake on their part. So they switched their rationale to save face.

Responses:

Problem is that rationale still holds. And is a very good reason to downgrade all on its self. -- nm - the liioulu with Aug 7, 14:32 5
- the bigger problem is that trust is put into an untrustworth institution like S-P -- nm - Danedukenuuk Aug 7, 14:40 4
  - It's as trustworthy as an other financial institution in the US. - the liioulu with Aug 7, 14:41 3
    - Talk about damning them with faint praise ;) -- nm - ty97 Aug 7, 15:55
    - perhaps they all make decisions based on fuzzy math ??? -- nm - Danedukenuuk Aug 7, 14:43 1
      - That would explain an awful lot. -- nm - the liioulu with Aug 7, 14:46

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The point is they said "the math supports it" until shown that the math was wrong. Then switched to "Oh, it wasn't the math, it was the process."

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