Default: Political Cowardice & Ratings Agencies
STEVE ROYSTON: I would suggest that to downgrade US debt while leaving other sovereign debts at a higher rating is a meaningless exercise.
Powerless: Why We’re At the Mercy of the Markets
STEVE ROYSTON: Whereas the blind are at least able to steer clear of walls and ditches, the rest of us don’t have the faculties even to recognise the wall.
