Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Wednesday, July 6, 2011

Analysis: Portugal poisoned by Greece in cut to junk status

What most people don't realize is just how corrupt Wall Street is. Remember these are the same rating agencies that colluded in the sub-prime scam and a million others. The manipulation of ratings is much more likely a strategic calculation than a reflection of an actual change in the credit worthiness of a given bond issuer. In this case it is almost certainly in furtherance of the implementation of the new model of neocolonialism now being fostered on Greece. As far as I am aware, there has been no sea change in Portugal's economic viability.

I yield the floor to Al Capone:

"Wall Street is the crookedest street in America, what a fucking racket they got."