Paying too much attention. I am not planning to comment after the event on the downgrading by a US ratings agency of several European Union countries' debt because there have already been umpteen reactions (see below in this newsletter), so adding my pennyworth would be pointless. It is rather the reactions themselves that I would like to comment upon. My first remark is that too much attention and too much importance is being given to the rating given by Standard & Poor's. For several years...