Monthly Archives: August 2011

ratings agency’s business model is, essentially, lying for money.

Posted on August 14, 2011 by Yunwei Hu

Via The Big Picture. This incompetence is by design. S&P is always paid by the company issuing the debt it is rating. It’s as if a newspaper ran stories specifically sponsored and with editorial input from advertisers. Such a business … Continue reading →

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Three days later, Obama is still in the first stage of grief

Posted on August 9, 2011 by Yunwei Hu

His friends at Capital Hill and Italy already moved to second stage. Denial, anger, bargaining, depression, acceptance Bookmark on Delicious Digg this post Recommend on Facebook Share on Linkedin share via Reddit Share with Stumblers Tweet about it Tell a … Continue reading →

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Cover of Time Magazine- The Great American Downgrade

Posted on August 8, 2011 by Yunwei Hu

The cover of this week’s Time: The cover story inside carries a less dramatic title, “The Debt Deal’s Failure”. The magazine was in print before the official announcement. However, I would not be surprised if the editor knew it before … Continue reading →

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