We know the Obama Administration doesn’t think highly of Standard & Poor’s after its downgrade of the government’s credit rating. Actually, the Administration remains infuriated.
Come to think of it, the Bush Administration also had its reasons for downgrading S&P. Recall that it was S&P that blessed all those fraud-based mortgage securities issued by greed-head Wall Street banks.
So, is this S&P’s perverse make-up call?