Monday, February 4, 2013

How dangerous to criticize the government?

McGraw Hill, parent company of Standard and Poors, made a disclosure this afternoon:
DOJ Is Threatening to Sue S&P For Not Predicting Full Magnitude Of Housing Downturn Despite Failure Of Virtually Everyone To Do So
In August 2011, S&P downgraded the rating on U.S. Treasury debt, and the downgraded status of AA+ from AAA has not been reversed since.

So now the federal government plans to go after S&P focusing on its ratings in 2007 of certain U.S. collateralized debt obligations.

You will speak highly of Mr. Obama's Treasury and the national financial outlook, or you will face consequences - is this the message being conveyed by DOJ? Will today's disclosure put a chill on others who dare to question the financial policies of the U.S. that are ever more deeply mired in debt?

Updated 4:25 pm EST adding background for clarity and context

No comments:

Post a Comment