http://www.marketoracle.co.uk/Article7125.html

The AAA rating granted to sub prime CDOs is the same rating that is given to
AAA US government treasuries. According to the rating agencies, the
creditworthiness of US sub prime borrowers is no different than that accorded
to the US government - and unfortunately the credit agencies are right.

The major holders of US treasuries - China, Japan, Russia, sovereign wealth
funds, pension funds, insurance companies and investors - will soon discover
is that the US is no more able to pay its $13 trillion of dollars of debt than
sub prime borrowers can pay the $1.3 trillion dollars owed on sub prime
mortgages.