Ron Paul: Downgrade is ‘theatre to build up the fear’
Ron Paul thinks that the United States shouldn’t bother trying to save its Triple A rating from Moody.
Appearing on Bloomberg TV this morning, the Texas Congressman questioned the legitimacy of credit ratings, stating that their motive maybe more based on politics.
“I always wonder about this ratings, the bond ratings before the crash three years ago wasn’t helpful, so sometimes I wonder if it’s political theatre to build up the fear.”
Watch:This video is from Bloomberg, broadcasted August 8, 2011