Crazy days, eh? The market shouldnâ??t be gyrating like Lady Gaga. Itâ??s unseemly. But from Wall Street to D.C., there has been a lot of crazy to go around this week. Who romps home with the title, though? In this season of the nut, who is King Crazy? S&P is a candidate. Its decision to downgrade the nationâ??s debt was eccentric, to say the least. Though some expected the downgrade, it would be understating the case to say that S&P lacks the standing to cast aspersions on U.S. debt.
S&P may think of itself as sort of like the baseball player who couldnâ??t hit a fastball and so retired with honor to become an umpire. In fact S&P is more like a student who flunked out of astrophysics, was forced to settle for a degree in education â?? then found itself back in the classroom, still baffled but now empowered to grade the problem sets of the physics students.
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