Jon Stewart opened The Daily Show on Monday night skeptical that S&P’s downgrade of the United States’ credit rating is that big of a deal.
“The ratings agency is Standard & Poor’s,” he said. “Who’s going to listen to a company whose name translates to average and below average? This is a big nothing burger.”
But them came the news that global markets were tumbling Monday. While the S&P’s downgrade isn’t primarily to blame for the stock market’s turmoil, it seemed to be a contributing factor. “Maybe Standard & Poor’s are just incredibly tough raters,” Stewart said. “Are there other countries that still have AAA ratings?”
After playing a CNN clip that listed a number of European countries that still have a AAA credit rating — including the Isle of Man — Stewart said: “ouch.”
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