A little bit of an old story here but very relevant considering the latest news on the IRS targeting Conservative groups. Obama doesn’t want you to know how bad he’s growing the debt and ruining our economy so the administration goes after the S&P after they downgraded the US credit rating.
A very powerful group of people has advised Standard and Poor’s to reconsider some of their recent bond rating decisions.
Unlike Moody’s, unlike Fitch, S&P deviated from the hypocritical script and began putting bond issues under a more focused microscope. They found fecal matter strewn throughout and began to rate securities issues accordingly. Regrettably, some of those issues S&P took the hatchet to were USG debt securities. In August of 2011, S&P downgraded US debt from AAA to AA+. Thus S&P will be tortured with the legal equivalent of amateur proctology by the pathetically obvious Obama Administration.
In mid-January, Fitch threatened the US with a credit downgrade but changed their mind by late January. I wonder if they were afraid.