Those companies who grade Wall Street's creations are paid by the very same folks they are grading. This has been a longtime private joke. When the Boy Messiah showed up and ran our government down into the tens of trillions of darkness and then, to make matters even worse, refused to stop spending and even demanded of Congress to raise our debt ceiling even further, China laughed and the rating agencies were horrified. They warned the Boy Messiah repeatedly about how he was ruining America's credit rating. But the Jerk-In-Chief would have none of it. This made the Chinese happier because, with a lower rating, the Obama Boys were forcing America to pay higher interest rates to them.<quoted text>S&P graded the Wall St. Mortgage Backed Securities AAA in 2008 at the time of the worst crash since 1929 because of Mortgage Backed Securities .
They were about as smart as you are.
The Obama Boys are about as stupid as you are.