Wednesday, January 30, 2008

WHEEEEEEEEEEE

Make the shitpile higher.

NEW YORK (AP) — Standard & Poor's Ratings Services is considering slashing its rating on more than $500 billion of investments tied to bad mortgage loans, the ratings agency said Wednesday.

The massive downgrade would threaten a broad swath of the world's finance industry, S&P said, ranging from Wall Street's trading desks to regional banks to local credit unions.