Senate panel reviewing S&P downgrade -- Mon Aug 8, 2011
(Reuters) - The Senate Banking committee has begun looking into last week's decision by Standard and Poor's to downgrade the U.S. credit rating, a committee aide told Reuters on Monday.
(Wouldn't you like to be able to do that in the private sector? Got a bad review? Hint that you might haul 'em in front of the Senate)
SEC Reviews S&P Math, Possible Leak of Rating -- Sat Aug 12, 2011
The Securities and Exchange Commission is reviewing the method Standard & Poor’s used to cut the U.S.’s credit rating and whether the firm properly protected the confidential decision, according to a person with direct knowledge of the matter.
(Since when does the SEC know how to check someone else's math?)
Warren Buffett also criticized the rating company’s decision, saying the U.S. merits a “quadruple A” rating, but how seriously can that be taken when his company owns over 10% of the competition?
The story ends before we find out what happened to the boy who pointed out the emperor was naked.
Apparently, he's given a sound flogging.