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A comment on United States loses AAA credit rating from S&P . Parent comment

Re:United States loses AAA credit rating from S&P by winestock on Friday August 05, 2011 @08:59PM (#2852476)
Damn you, but the boys at Goldman Sachs are probably on it, right now. Take a pile of T-bills. Siphon off the income from them into a pie. Cut the pie into tranches. The first tranch or two are guaranteed to be AAA. Just look at the math that the quants derived...

We can all lipsync this tune.

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Re:United States loses AAA credit rating from S&P by ericd on Saturday August 06, 2011 @01:04AM (#2853092)
Heh if only they could pretend that the performance of one T-Bill could be assumed to be uncorrelated to that of another T-Bill...
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