“Altafaj Tardio showed some disdain for the agencies. “Who is Standard & Poor’s anyway?” he said at the European Commission’s daily news briefing.”
It’s gratifying to see that the European Commission has twigged it regarding S&P’s blatant bias in downgrading Greek bonds for the benefit of the dollar and Wall Street. Now they are also downgrading Portuguese and Spanish debt in a strategy that is far too obvious to keep on succeeding. The rating agencies should be facing prosecution regarding their leading role in the subprime fraud rather than pontificating on the fate of nations.
Robert Wielaard, Associated Press
28th April, 2010
The European Commission ruled out a Greek debt restructuring Wednesday and – with barely veiled annoyance – said it was “monitoring” credit rating agencies such as Standard & Poor’s that downgraded Greek bonds to junk status.
In These New Times 