“It was S&P that took the heat in August of 2011, being first to actually cut the nation’s rating to AA+. At the time the Obama administration lashed out at S&P, launching an unprecedented attack, specifically accusing the agency of ‘misleading calculations.’ Some now speculate that the Obama administration is merely getting revenge on S&P’s downgrade by taking legal action against the rating agency. But it is also plausible that the Obama administration made a shrewd political calculation in taking this action.  The Obama Justice Department’s suit puts Moody’s and Fitch on notice that they had better behave.”

http://www.economicpolicyjournal.com/2013/02/why-s-is-in-crosshairs-of-department-of.html

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