'Now, our godlike financial ratings agencies have decided to degrade nine countries struggling to fix their financial crisis. The decision by Standard and Poors (Best renamed, “It is now Standard to Be Poor”) to downgrade credit ratings for France, Italy, Austria and six other European countries signals those nations that Wall Street has them by the cojones. Their costs for borrowing will go up.
They are being warned: We are in Charge. Do as we say!
Unreported in all of this, is that many of the companies that loaned them the money are part of a US led financial oligarchy. The Credit agencies---the same ones that legitimated fraudulent sub prime lenders with no accountability—are part of the enforcement gang of today’s loan sharks who are squeezing Europe to pay up or else.'