Why don’t the rating agencies downgrade U.S. debt?
A: The simple answer is that if the rating agencies even hint of downgrading U.S. debt they will feel the strong arm of the U.S. political establishment and they (the rating agencies) will bite the dirt. It is all a hoax as we have just witnessed in the crash of Enron, Lehman Brothers and so forth. The so-called rating agencies failed miserably, since they were in the hire of the people they were rating. It is like putting Dracula in charge of the blood bank. Come on!!!