Iraq burns. Oil spikes. George Bush is on vacation. Meanwhile, the NYT reports

Moody's cut Ford's long-term credit ratings by one notch to 'Ba1,' the highest junk rating, from 'Baa3.' It cut the long-term ratings on Ford Motor Credit by one notch to 'Baa3,' the lowest investment-grade rating, from 'Baa2.' The rating outlook for both companies is negative, meaning another rating cut is likely over the next 12 to 18 months.

One of the corner stones of the American economy is slowly crubbling despite the Bush tax cuts and corporate give aways. It appears George Bush's legacy will be lies, lots of Americans dead because of a pack of lies, and the demise of one of the big three automakers. I can't wait for the Presidental Library in Crawford (of course that will mean Bush will have to release papers).
posted by Idle Crank at 8/24/2005 07:53:00 PM