"It's going to be a tricky time for ratings agencies," said Fred Ponzo, a capital market analyst at Greyspark Partners in London, said in a telephone interview. "S&P is probably just the first to face the music."Those new to the Theater of the Absurd may automatically assume that the U.S. government must make those other ratings agencies "face the music" -- rather than only attacking one-third of this music trio. Let me introduce those readers to the banksters' $500+ trillion "LIBOR fraud." More than a dozen multinational banks collaborate, anonymously, behind closed doors to "set the LIBOR interest rate" (London Inter-Bank Offer Rate); supposedly by each independently submitting their own number. Yet we had our lying governments, corrupt regulators and inane mainstream media attempting to tell us initially that only one of those banks (Barclay's) "conspired" to rig the LIBOR rate. Obviously one member of a committee cannot "rig" any outcome in a process where they have only one, equal vote, any more than one member of a Choir can poison the minds of market participants by singing the same lyrics as the rest of the Choir. What our governments and pseudo-regulators lack in integrity they make up for with their audacity. Follow Jeff Nielson @bullionbulls This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.