This post is a further continuation of the 'Saga of Sonnypage', an Atlanta...

This post is a further continuation of the 'Saga of Sonnypage', an Atlanta area real estate broker who posts on my investment board the Motley FOOL. Previous Sonnypage highlights include:Lights Out in Georgia...on 2006/07/27Soft Market Debris....... on 2006/08/02Is the Fed irrelevant? ...on 2006/08/03Scared in Atlanta...........on 2006/08/06Time Keeps on Ticking..on 2006/08/27Two Anecdotes..............on 2006/09/15Friendship LostSonnypage 2007/01/12The origins of 'Friendship Lost' go back to a Sonnypage post made on the Motley FOOL on 2006/12/08. Let's pick up the story from Sonnypage:

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Given that Fitch is implicitly admitting that it is making rating...

Given that Fitch is implicitly admitting that it is making rating decisions not on merit alone, but on perceived implications of what a rating change might do to the company being rated (see Any Credibility Left At Fitch?) what does Countrywide Financial have to lose by pleading downgrade could weaken business? BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise After Durable Goods? When are Construction Revisions Coming? Given that Fitch is implicitly admitting that it is making rating decisions not on merit alone, but on perceived implications of what a rating change might do to the company being rated (see Countrywide (CFC), the largest U. S. mortgage lender, said in a U. S. regulatory filing on Friday, that if its credit rating dropped below its current lowest rating, this would 'severely,' limit its access to the public corporate debt market and that could have repercussions on its business. A below investment-grade rating also would mean Countrywide would f...
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The understatement of the month award goes to Garry...

The understatement of the month award goes to Garry Evans at HSBC for his comment on the Shanghai Composite Index 'I think the market had gotten a little too expensive'. BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise After Durable Goods? When are Construction Revisions Coming? China's leading stock index tumbled nearly 9% Tuesday, marking its biggest plunge in a decade, on concerns of more economic tightening measures as China's parliament prepares for its annual session next week. The Shanghai Composite Index, which tracks shares listed on the larger of China's two stock exchanges, tumbled 8.8% to 2,771.79. The declines rank as its biggest single-day drop since the benchmark plunged 9.4% on Feb. 18, 1997, which reportedly came after the death of reformist Communist Party elder Deng Xiaoping. Analysts said the declines, which came a day after the Shanghai Composite ended at an all-time high, were sparked by concerns the government may implement n...
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Goldman is attempting to lay the blame for poor results...

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