Don't get mad; get even goes the old saying. It looks like the administration, though its politicized Justice Department, is determined to get even with Standard and Poors for that credit downgrade. Once again, Fox has the story.
http://www.foxnews.com/politics/2011/08/17/doj-reportedly-investigating-standard-poors/
Subscribe to:
Post Comments (Atom)
4 comments:
Sounds long overdue to me.
Right, Siarlys. Next they'll be investigating me. I heard today that the city of LA got downgraded to a double AA. Blame? Mayor, board of supervisors and city council.
As the POTUS would say: "Punish the enemy!"
Squid
If they investigate you Gary, call me as a character witness. It's all been pure free speech.
What they really need to do, more than investigate Standard and Poors, is decouple financial regulation from reliance on rating agencies.
If the rating agencies have de facto power via the reliance of federal regulations on their findings, then they lose the right to claim "freedom of speech," and must meet the same requirements we expect of any accountable and transparent government. If their ratings are purely their own published opinion, especially if a dozen other agencies can get into the market on a level playing field, then there is nothing to investigate.
Squid: Are you trying to do an impression of Barney Frank?
Post a Comment