In its decision to downgrade US sovereign rating from AAA to AA+, S&P had overstated the US debt by a whopping U$2 trillion! I find this strange for the following reasons:
1. 2 trillion. How many zeros is that?? Have there been no controls in place during the process to spot such an obvious mistake?
2. Diffucult to imagine that such a blunder is allowed to happen especially when the decision on hand is a major one. Surely they could have anticipated the consquence of their downgrade?
3. The decision came soon after Obama's administration finally managed to overcome republican's protest to raise the nation debt ceiling.
Such doubts inevitably leave me wondering if there's any political conspiracy at play. And has there been any leak of the downgrade before it's made public?
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