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Have you ever wondered who made the Big 3 ratings agencies...S/P, Fitch and Moody...the world's financial gods...with the right to condemn companies...and now nations...to austerity... and the equivalent of economic banishment?
The Big 3 currently control 95% share of the debt ratings game.
They do is for profit...and without any adult supervision.
This short NPR report answers that.
Blame the USA...after the 1929 Crash...and more recently in the 60's...for the raters increased power to reward, punish and dictate policies.
Now with this historic first downgrade ever by S/P...the USA is finally suffering...from its own medicine...and ignorance.
