Sanders on S&P downgrade: ‘Where were they four years ago?’

From U.S. Senator Bernie Sanders’ FB page on the S&P downgrade:

I find it interesting to see S&P so vigilant today in downgrading the US credit rating. Where were they 4 years ago when they, and other credit rating agencies, helped cause this horrendous recession by providing AAA ratings to worthless sub-prime mortgage securities on behalf of Wall Street investment firms? Where were they last December when Congress and the White House drove up the national debt by $700 billion by extending Bush’s tax breaks for the rich?

For those of you outside the U.S. who aren’t familiar with Sanders: he is the longest serving independent in U.S. Congressional history.

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  1. Peg Abbott says

    I was waiting to find someone who was saying this out loud! And who are Standard & Poors really? They were the ones who did just what you said, flooding the market with worthless sub-prime mortgage securities, and calling them AAA. This company is designated by the SEC? And how about those SEC folks…? The same ones who ignored warnings about Madoff for 5 years? How about one of the top SEC officials who had to recuse herself because she went to Bernie Madoff’s niece’s wedding?
    I’m sure that there is an ulterior motive here, and the fox has long since been in the henhouse…I love the way the tea party and the Republicans blame Obama for the last 10 years of policies that helped put us in this fix..We, as a people, suffer from a form of National Alzhiemers Disease, and the “powers that be” make the most of it.

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