Friday, April 22, 2011

Did White House Try To Bully Standard & Poors?

This is interesting, given that this same White House held a conference last month to draw attention to, and crack down on, bullying — which of course was one of the Founding Fathers' prime concerns when they drew up our federal system.

According to the Post, "Treasury officials told S&P analysts that they were underestimating the ability of politicians in Washington to fashion a compromise to curb deficits" and argued that a ratings change wasn't needed "because the debt was manageable and the administration had a viable plan in the works."

In other words, the administration told S&P to trust the very institution that has created the federal debt problem and did nothing to stop the most predictable economic crisis in our history, if we may borrow a few sharp words from Rep. Paul Ryan........

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