The real reason Moody's and S&P fear #Debtmageddon

Anybody who knows much about the housing bubble, not on the fradulent mortgage end as much as the finished-sausage-product end of CDOs and stuff knows that the ratings agencies were $2 financial whores, full of shit, or a bit of both. (They're not mutually exclusive.)

For Moody's, S&P and Fitch, the bottom line is the bottom line. Not the U.S. government's bottom line, their bottom line.

If there's a default, the economy in general slows down.

Not just the real economy, for those of us working real jobs, but the fake financial sector economy. That means less wheeling and dealing. That means fewer financial issues to be rated by these folks.

Besides whoring themselves out to Countrywide, numerous hedge funds, etc., in the last decade, did the ratings agencies say a word as George W. Bush put more and more war spending "off budget"?

Nope, not one damned word.

So, as you hear Moody's and S&P bleat and squeal in days ahead ... remember why.