Okay, so S&P acknowledges that when it decided to downgrade U.S. Sovereign debt (Treasuries) they made a TWO TRILLION DOLLAR ($2,000,000,000,000.00) error in their math. Now, call me crazy, but that’s a stunning number. So the people who screwed up so badly leading up to the 2008 financial crisis now make the largest mathematical error that I have ever seen. Doesn’t exactly make you feel all warm and fuzzy about their financial analysis of all the Agencies, Corporates and Municipal bonds that we hold.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
Email: jbroussard@treasusry.state.la.us
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