We can't have it both ways.  Because the mortgage backed securities are going to ruin many people as they unwind and take the life savings of many, we can't demand a return to real accounting processes to determine wealth and security and then throw a fit when the U.S. doesn't appear to be a terrific bet under the circumstances.

This article says that it is believed that the SEC is also looking into Moody's and Fitch too and whether or not their ratings of the mortgage backed securities also puts them on the hook for the ruin of others.

And an investigation was started?

The City of Los Angeles will no long hire Standard and Poor's to rate the city's investment portfolio. From the LA Times:

"We have really lost faith in S&P's judgment," Interim Treasurer Steve Ongele said.

After its downgrade of U.S. debt last week, S&P cut its rating of L.A.'s general investment pool to AA from AAA. It also downgraded dozens of other municipalities with large investments in U.S. Treasury notes.

One of them, Northern California's San Mateo County, has decided not to renew its contract with S&P. Florida's Manatee County has also dropped its contract with the company, according to news reports. link

Mittens seems to have the biggest war-chest which is a huge factor.

Look at him! He's everything America wants in a leader! He shoots things on his daily jog with the laser-sighted pistol he carries on him at all times. He has picture-perfect hair and that charming Texas drawl. You couldn't dream up a manlier man if you tried. He's the very definition of a cowboy, and America LOVES a cowboy.

This highlights one of the problems with a progressive income tax.  Namely that tax revenue rises faster in boom times (exemplified by the increase in revenue during the dot-com bubble) and falls faster in hard times.

It doesn't because it neglects to mention how much tax the remaining 7 figure incomes contributed. That number is needed to make/break your contention.

And this gem "Almost four of 10 millionaires vanished in two years...".  Bold face lie, a millionaire is someone whose net worth is over a million.  People making a million dollars in income dropped, loads of millionaires who never have a million in AGI.

Note, the time line is 2007 to 2009, Bush era, and I suspect most of that is carry over losses that took 7 figure incomes and moved them into 6 figure incomes.  Stated income is not the same as actual income especially when that number approached 7 figures.

Whether it's Perry or Romney, you can bet Republicans will come out in 2012, because there's nothing they want more than to make Obama a one-term president. In the end they'll have all hands on deck.

I.e. regardless of the side of the tent the candidate resides in R world, they can count on the support of all of their party.  We haven't quite grasped that concept though have we?

I honestly wonder why so-called "progressives" don't get this. They're supposed to be the "smart" ones, yet they seemingly believe that structural problems in America decades in the making, compounded by the self-centered & greedy, made worse by cheap labor found worldwide, can be magically made to disappear merely by doing everything Paul Krugman says. (ftr, I like Paul, his ideas are just a subset of numerous different ideas/possible solutions)