There was once a time when ratings agencies analyzed credit and rated securities accordingly. Then there was a time when they sold ratings to the highest bidder. Now they seem to have decided that they want to involve themselves in the political process.
S&P seems especially keen to influence political outcomes. It openly fretted about lack of cohesion among the political parties in the US to raise the US debt ceiling and threatened a downgrade unless they all sand a chorus of “Kumbaya” . Today, it seeks to influence an outcome at a particular EU summit over a particular issue.
Next, they’ll be telling us what to eat, what to drive and to whom to pray.
Get back to the basics, you self-important twits.
