Moody’s warns on US finances

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FT Alphaville ¬ª Moody’s warns on US finances.

Credit rating agency, Moody’s Investor Service, will fire a warning shot at the US on Monday, saying that unless the country gets public finances into better shape than the Obama administration projects there would be “downward pressure” on its triple A credit rating.

I still find the absurd confidence of the rating agencies in the light iof their own abject failures quite extraordinary.

Surely, the fact that they say that an adminsitration has got soemthing wrong should give us clear indictaion of the exact opposite. Isn't that what any rational person would think?