Posted on 07/27/2011 6:37:38 PM PDT by markomalley
A congressional panel is examining whether the Obama administration tried to unduly influence Standard & Poor's before the credit rater revised its outlook on the debt rating to negative.
Randy Neugebauer, the Republican chairman of a House oversight panel, said on Wednesday his staff is probing whether Treasury tried to make material changes to a draft of S&P's news release announcing the negative outlook revision in April.
"Our concern was if the administration was trying to influence this rating decision some -- above what would be a normal practice," Neugebauer told reporters after a hearing examining oversight of the credit rating industry and the role the raters are playing in U.S. debt talks.
(Excerpt) Read more at reuters.com ...
This wouldn’t surprise me.
The administration will have a lot to answer for when the real adults retake authority.
If Al-Reuters is reporting this it could be huge!
Yeah? Anything more that we all should probably know about NOW?
Reuters!?!?! Reuters is reporting a negative on their king? Wow, some in the lame stream press must be really ticked at zero!
S&P charges a fee to rate entities...duh... how do you think they will rate a paying client.
S&P rated AIG, Lehman, Bear Stearns, Fannie Mae derivitaves all “AAA” right up to only hours before they collapsed.
Did the sleazest Administration since tammany hall, slide up to S&P execs and try to buy a rating?
Lol!
This is no story, it’s SOP!
"A review of the emails by Reuters shows efforts by S&P and Treasury officials to hold discussions ahead of the outlook review. They also show an interest by Treasury in obtaining a draft copy of S&P's press release.
There was no indication in the emails that Treasury was unhappy with the review or tried to influence the press release."
You mean like they answered when W and the repubs took over in 2000?
The SEC’s been investigating both S&P and Moody’s. I wondered if someone was going to look into the timing.
Supposedly sovereign ratings are free, but who knows.
The $1 Billion Armageddon Trade Placed Against The United States Bond Market
http://www.freerepublic.com/focus/f-news/2753857/posts
This shorting trade, combined with another suspicious piece of news:
Hero to liberals, Soros ends hedge fund career to escape regulations
Tells me that Soros--who is now privatizing Soros Fund Management to escape SEC oversight--has started to place major "shorting" positions not only in the USA, but in stock markets around the world because once the manure hits the fan, Soros could make enough profits from these shorting positions to buy a huge amount of stocks and real estate at highly distressed prices and make a huge fortune down the road--the same tactic used by another highly ruthless financier, one Joseph P. Kennedy, Sr., who saw his net worth grow by a factor of 45 by deliberately driving down stocks during the height of the Great Depression, bought a whole bunch of stocks and distressed real estate from 1929 to 1932, and sold them from 1935-1938 at a GIGANTIC profit. (I believe it was in this period that the main building at the Kennedy compound in Hyannis Port, MA was expanded to its current size.)
Think Gheitner, the former president of the Federal Reserve Bank of NY knows some guys at S&P and Moody’s?
Don’t hold your breath; this dope is the beneficiary of the soft bigotry of lowered expectations. I don’t think he’ll be held to account for anything.
And that is why, IMHO, S&P ratings aren’t worth jack sh1t.
“One wonders if it has anything to do this:
The $1 Billion Armageddon Trade Placed Against The United States Bond Market
http://www.freerepublic.com/focus/f-news/2753857/posts
This shorting trade, combined with another suspicious piece of news:
Hero to liberals, Soros ends hedge fund career to escape regulations”
____________________
And this morning we read “all 53 Senate Democrats signed a letter tonight to House Speaker John Boehner saying essentially that they would RATHER LET THE US DEFAULT ON ITS DEBT than pass the House GOP plan that would cut spending and force another vote next year.”
Is this why the marxist puppet and his senate props disdained all budget plans and failed to produce their own?
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