From Denny: Only Jon Stewart would think of this crazy scenario - or dare to air it. Comic Larry Wilmore delivers a flawlessly funny run on the black stereotype in relation to America's new credit rating, courtesy of a downgrade from S & P. The other credit rating agencies did not follow suit. Nor did they make a $2 trillion error in projections like S & P who still refuse to own their colossal mistake.
Basically, these credit rating agencies were paid off by Wall Street to rate various companies as good risks when clearly they were not. The second video clip is of law professor John Coffee who explains how that tangled web of deceit created the economic mess we are experiencing today.
Wednesday August 10, 2011 The Obama Downgrade Larry Wilmore believes that if Barack Obama's going to be labeled black, then he should own it, and by "own it," he means "rent it."
Wednesday August 10, 2011
John Coffee Law professor John Coffee explains why major credit rating agencies inflated their ratings and how they contributed to America's financial collapse.
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