February 9, 2013
Mess With the Bull, You Get the Horns
Peter Schiff, Euro Pacific Capital
With the announcement this week of its massive $5 billion lawsuit against ratings agency Standard & Poor's, the Federal Government took a bold step to squelch any remaining independence of thought or action in the financial services industry. Given the circumstances and timing of the suit, can there be little doubt that S&P is paying the price for the August 2011 removal of its AAA rating on U.S. Treasury debt?
TAGGED: Peter Schiff, Ratings Agencies, Debt, Standard & Poor's