Jim Rogers: Lazy bank & ratings clique must take a hit

European markets haven't let the massive ratings downgrade cast a shadow over trading today, with only a slight fall. On Friday, ratings giant Standard and Poor's slashed the scores of 9 EU nations, including the triple-A scores of France and Austria. RT talks to Jim Rogers, a financial commentator and co-founder of Quantum Hedge Fund. Source Jim stopped listening to ratings agencies years ago, "You shouldn't bother paying any attention to the ratings agencies, everything they've done in the past 15 or 20 years has been wrong, I stopped bothering with them long ago, everyone knows France is no longer AAA, everybody knows that Italy is no longer as highly rated as it used to be, the market knows all of this, this is not news.. to people in the market." "the best way out is to go ahead, let people go bankrupt, let the people who made mistakes, take their losses and start over." "USA is the largest debtor nation in the history of the world"