ratings agencies

Daily Show: Downgrade Was Because US Government Doesn't Pay S&P Any Fees

Daily Show: Downgrade Was Because US Government Doesn't Pay S&P Any Fees

By Ben Popken 8.12.11

The US government got downgraded by S&P because, unlike corporations, they don’t pay the ratings agency any fees, Columbia law professor John Coffee told The Daily Show. [More]

Update: Airplane Flies Banner By Wall Street That Says "Thanks For The Downgrade. You Should All Be Fired."

Update: Airplane Flies Banner By Wall Street That Says "Thanks For The Downgrade. You Should All Be Fired."

By Ben Popken 8.9.11

Earlier today, an airplane buzzed Wall Street towing a banner that said, “Thanks For The Downgrade. You Should All Be Fired.” Update: FORTUNE got in touch with the person who flew it. She’s a Midwestern mother and an investment banker. [More]