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Sine it seems Bill English has decided to let Standard and poors write our budget for us, it seems germaine to link to this article:

http://www.washingtonpost.com/wp-dyn/articles/A8032-2004Nov23.html
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fascinating article
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I am fairly sure some of these same agencies gave many of these high risk, toxic CDO's (Collateralized Debt Obligations) AAA credit ratings, essentially playing a significant role in this present financial crisis. I don't rate their credibility very highly already and reading this article only adds to that sentiment.