of that entity because it said the housing market and the mortgage debt was a-okay, and we all know now it wasn t, and it led to a big financial meltdown, so people are saying, why do we listen to them? they gave us the wrong warning on the housing investments, and now they re trying to tell us the united states of america deserves a downgrade. what s your take on it? reporter: that is a valid criticism. they made such a mess of it in if 2008, how come we now allow them to downgrade the united states treasury? that is a valid criticism. another criticism is that standard & poor s employed subjective political criteria to make an objective judgment of our debt situation. standard & poor s said, look, you haven t got your political house in order. it doesn t appear that you have the political will to rein in entitlement programs. that is a subjective judgment. so the critics say you have no the right to employ subjective criteria in an otherwise objective situation.
to be part of it and locked like they could be, and we are talking revenues not tax hikes, we are talking the second wave, not the first wave. even now most people in this deal are unsure what it signals. they are optimistic this time going to the house first although it is more dicey bed, will not be as risky when they made the same move three years ago before the big financial meltdown and president been had a preliminary for something called tarp, said to be a big rescue for the banks and brokerage houses and congress repudiated that and the house rejected it although the senate was more in favor but they tried the house first and they were sorry about that and we had 800 fall off in the dow jones industrial average and they quickly regrouped. man, they remember that day well. they do not think that will be