Biased BBC contributor Alan notes….
“Wednesday was fascinating…if you had flicked between the various BBC radio channels you would have heard a consistent drumbeat….S&P, Standard and Poor the rating agency, is wrong, not only wrong but incompetent and unqualified with no special insider knowledge of the markets…or no more than say a well read layman.
Why did I enjoy that? Because every time the BBC ‘expert’ piped up with his opinion (presumably also no better than a well read layman’s? ) he was shot down by the real experts who do work in the industry….and if you read the papers these conclusions were convincingly backed up.
S&P were just spelling out the blindingly obvious when they said Europe’s AAA rating may be downgraded. The ‘Merkozy’ backroom deal solved nothing. So is it incompetence, ideology or a mix of both that so blinds numerous BBC economics and business presenters?
It is odd really that they believe that no one will notice…the people who listen to these programmes are not uninterested nor unknowledgeable…the BBC fools no one but themselves.”