BANZAI7 NEWS--Moody's Investors Service says the U.S. and U.K. must prove they can whittle down their ballooning deficits to avoid threats to their triple-A credit ratings.
In a report released on Tuesday, Moody's set the two countries apart from other top-rated sovereign borrowers, calling them merely "wrinkle resilient" rather than "water resistant," a label it applied to Canada, France and Germany, where public finances are above water.
The report follows rumors that the US Treasury is considering the issuance of Camel Dung Bonds modeled after Dubai's DDD (Dubious Dubai Dung) Bonds.
WB7: Hmmm, the two leading domiciles for global banks are clunkers.
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Yoou need a check box for "pitiful."
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