THE TRIPLE-A RATING MACHINE

What if I told you that I had developed a machine that would give a false weight and measure, but that it would certify that a pound was a pound and a mile was a mile. And, that furthermore, I was going to sell this machine to companies that sell products by weight, and charge for services by distance. The buying public of these products and services would never know the true weight or distance because my machine, that I will call the TRIPLE- A RATING MACHINE, would conceal the correct weight and measure from them. My only selling point to those that would buy my machine would be that they would pay for my machine by cheating all their customers out of their true weight or distance, and, in a short time the machine would permit them to defraud thousands of their customers every day. I would further protect my machine and my company by making large political campaign contributions to those members of Congress that were involved with commerce and weights and measures. I would also set up a corporation outside the United States and sell my machine in other countries as well. My TRIPLE-A RATING MACHINE will make me very rich, but unfortunately, in time, it will cause all kinds of problems throughout the whole economy as formulas and other scientific mixtures fail to operate the way they are supposed to because the weights and measures are all screwed up.

Can you understand the implications of the above paragraph? Do you see what would happen to our economy if such a machine was developed that would give false measures and weights? There is such a machine on Wall Street and it does give false measures and weights. This machine is called the TRIPLE-A RATING MACHINE and it has caused the financial markets to have a meltdown and it has produced a financial crisis here in the United States and around the world. This machine is still operating and the Congress, the press and TV news still have not covered this story. This is some kind of shit that the one factor, credit ratings and the privately controlled credit rating companies that brought us the present financial crisis and the bond market meltdown has not been held accountable.

At some point, this story about the credit rating companies and what they have wrought on our economy has to come out. Why it has not come out up to this point, I do not have an answer. This story must get told and changes need to be made. Without changes in the credit rating system, we are all headed back to the same disaster in the near future.

Stay tuned.