There was a time in L.A. when I drove to 7-Eleven to go grocery shopping, and I locked my keys in my car, which wasn't insured. My wallet was in there, and I couldn't call AAA, because I only had $7 in my bank account. It was one of those moments where I was like, 'O.K., I literally have nothing right now.— Whitney Cummings
Killer Aaa quotations
Junk bonds prove there's nothing magical in a Aaa bond rating.
Michigan is also the only industrial state that has a AAA credit rating.
Defaulting on the nation's debt would be cataclysmic.
The U.S. Treasury's Aaa rating is the one constant in the world's financial system. When times are bad anywhere on the planet, global investors flock to Treasury bonds because they know they will get their money back.
What the mortgage bubble was all about was big banks like Goldman Sachs taking big bundles of subprime mortgages that were lent out largely to low-income, highly risky borrowers, and applying this kind of magic-pixie-dust math to these bundles of securities and slapping AAA ratings on them.
The once-unthinkable loss of the AAA rating will constitute a further hit to already fragile business and consumer confidence.
It is hard to imagine that, having downgraded the US, S &
P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to rescue countries in its periphery.
I don't think the AAA is an end in itself;
we will maintain prudent financial management with or without the AAA.
We may very well be faced with the choice of retaining the AAA credit rating or abandoning some of our key infrastructure projects, which are about jobs for the future. I will choose jobs in that equation every time.
There was a time when people thought that if you piled a bunch of mortgages together, the top of the pile was AAA. There are a lot of things that become consensus.
Men exist because a vibrator can't fix a flat tire. On second thought, I should just buy a AAA card.
It's not a stretch to say the whole financial industry revolves around the compass point of the absolutely safe AAA rating. But the financial crisis happened because AAA ratings stopped being something that had to be earned and turned into something that could be paid for.