UK loses AAA credit rating

[rebbonk]

http://img22.imageshack.us/img22/3599/bbcnewsuklosestopaaacre.png

Source BBC (http://www.bbc.co.uk/news/business-21554311)

Not the best of news.

However:-

1) Does Osbourn know what he's doing?

2) Who are Moody's to speak of our credit rating? What do they know? Have they a vested interest in downgrading us?

3) Is the slight downgrading really that important in the overall scheme of things?

[cathidaw]

Cant think why they are so surprised.

[Lex]

Moodly's, only one of the 3 main credit rating agencies, is the only one that's downgraded the UK (so far), so to me, it's not the huge disaster our level-headed media is making out.