Tin foil hat time

There are other disturbing questions related to the timing and the target of this federal civil prosecution. S&P\’s attorney Floyd Abrams tells us that \”things seemed to rev up in terms of the intensity\” of the federal investigation after S&P\’s historic downgrade of United States credit following Washington\’s debt-limit fight in 2011.

Meanwhile, a McClatchy Newspapers report says that it was around that time that Moody\’s, which did not downgrade the government, was dropped from the federal investigation. Ask any investor and he\’ll likely tell you that Moody\’s was equally awful in forecasting the mortgage debacle.

No, no, of course not. No government would ever do such a thing, would they?

8 thoughts on “Tin foil hat time”

  1. “No government would ever do such a thing, would they?”

    Especially not the Obama Administration.

    I don’t understand why they don’t launch a few drone strikes targeting S&P’s senior management. After all, the US government offing US citizens without a trial seems to have become an integral part of “Hope and Change”.

  2. Naughty, naughty Dennis.

    PaulB will be along in a moment to explain why the only decent thing to do is to vote for Obama – drone strikes don’t count, no matter how many kids they kill.

    What counts is Republicans Won’t Say They’re Against Torture.

  3. Boys, boys, I think Tim meant the blog post was tin-foil hat time. It wasn’t an invitation to have a go at paranoid conspiracy theories in the comments.

  4. Doesn’t Warren Buffet own a large chunk of Moody’s ? He is quite nice to Obama, especially about raising taxes.

  5. re Buffet – an 80 year old saying he does not pay enough tax, therefore everyone younger ought to pay more…..it doesn’t quite cut it. Someone on Death Row could say he wished he had paid more tax

  6. A rating is no more than an opinion. Since when has it been a crime to hold a demonstrably wrong opinion?

    Regulators demand that certain financial assets are rated, sometimes by 2 (out of a possible 3) agencies. They have also incorporated the need for triple A or investment grade ratings for certain types of investors into their regulations. So they have created the dragon that they now want to slay.

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