Fitch proved why credit ratings are a joke

By: Diane Benjamin

Fitch downgraded the US credit yesterday:

This is a quote from the story:

According to the company, despite the fact that the debt ceiling standoff was resolved two months ago, “the repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management.

Let me interpret:

Fitch would rather see no discussions of budget cuts. Fitch doesn’t care if the US debt goes to $50 trillion as long as politics plays no role in controlling spending. Everybody is expected to play nice.

On a side note: Fitch is the only rating agency that has Normal at AAA. The reason is exactly the same.

One thought on “Fitch proved why credit ratings are a joke

  1. If Fitch was serious about downgrading US the US rating would be at least a C minus bit doing that would be racist I’m sure

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