On S&P Downgrade

"Even though it is sort of like downgrading the Titanic’s chances of making it across the Atlantic, at least they are ahead of Moody’s and Fitch".  ~ Michael Pento


"Remember S&P had investment grade, AAA, ratings on countless mortgage-backed securities right up until the moment the paper became worthless. Amazingly, the rating agencies somehow maintained their status, and their ability to move markets, after the dust settled". ~ Peter Schiff


"The only thing more ridiculous than S&P’s too little too late semi-downgrade of U.S. sovereign debt was the market’s severe reaction to the announcement. Has S&P really added anything to the debate that wasn’t already widely known"?~ Peter Schiff