Still Manipulating the Markets

People disagree about whether the government should have stepped in to bail out the big banks and Wall Street firms. That’s water under the bridge in my book. Now, it’s all about recovery, getting Americans back to work and banks back to lending. There is still a lot of pain we have to live through to get to that point.

Free markets have a way of re-stabilizing themselves if given a chance. Unfortunately, it appears that our federal government isn’t quite ready to quit manipulating the markets yet.

Those of you who also follow me on Facebook saw that I posted this gem earlier today.

S&P lowered its outlook on US debt on Monday, something the Treasury Department has been lobbying against for some weeks, according to The Washington Post.

As the reporter pointed out, this isn’t the first time a government or company has pushed back against a ratings agency, but the US Government has not taken this tact in the past.

A lower rating means the government will pay more on it’s debt--and when I say government, I mean we taxpayers. How do you feel about this?