No, the most powerful company in the world isn’t Goldman Sachs or Google or Apple or Exxon, it’s the company in the picture below. Which is picture the Standard & Poor’s building in New York City, otherwise known as the S&P.
The S&P is a rating agency that everyone hates right now. Don’t let those Christmas lights coming of the streetlamps fool ya, this is the scariest and most feared company in the world, and especially in Europe, which is in fulll crisis mode. The S&P, the ratings agency that missed forecasting the real estate crash in 2007 and all those sub-prime mortgages that they rated AAA, now wields what seems like all the power in the financial world. They’re ready at any moment to downgrade entire countries or companies or local governments.
In particular, the S&P love to make threats and scare you. Saying, if you don’t do this, if you don’t get your debts in order we’re going to drop you from AAA to AAA- or from BBB+ to BBB-. And these even slight downgrades are real in the sense that countries or companies then can’t borrow money at good rate anymore if they’re rating is changed. So, watch out. Stay clear. Don’t go near this place. It’s haunted.