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Standard & Poor's lifted its credit outlook for the U.S. Whoopee!

Why anyone listens to this sham of a company, I'll never understand. Standard & Poor's, a unit of McGraw Hill Financial (MHFI), is one of a triumvirate of agencies that have been legally granted the authority by the U.S. government to dole out corporate and government credit ratings. Moody's (MCO) and Fitch are the other two. The ratings by these agencies have been nothing short of comical: downgrades of nations where credit is not an issue, like the U.S. and Japan, and "AAA" ratings passed around like confetti at the peak of the housing bubble. Many of those instruments, of course, went into default....547 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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