It's a Little Too Late to do the Right Thing Now
Song lyrics, Tanya Tucker
And that describes the usual late to the party debt downgrade from the rating agencies.
New York City was Baa the day it defaulted. It was clear that Dubai was in over its head as the e mails circulated showing the indoor ski slope and Palm Island; this in a country without Saudi oil or a Hong Kong economy.
Click to see property values in Dubai.
This is why we study accounting, one needs to be ahead of the curve to profit from bad or good news, one cannot wait to be told by a third party.
Professor Elam 
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