FDL Action

Tell the SEC: Revoke Standard & Poors Credit Rating Authority.

On the same day a bipartisan Senate committee found that Standard & Poors' misleading mortgage ratings fueled the financial crisis of 2008, S&P threatened to downgrade the US credit rating to discourage further inquiry.

Now S&P is threatening to downgrade the US credit rating AGAIN if lawmakers fail to agree to their ransom of no less than $4 trillion in deficit reduction - an irresponsible move that could send interest rates soaring and ravage the borrowing power of consumers, businesses and cash-strapped states.

Is S&P blackmailing the White House and SEC into absolving them of any responsibility for the 2008 crash by threatening downgrades every time there's an attempt to hold their feet to the fire? It certainly seems that way.

Sign our petition demanding the SEC strip S&P of their coveted authority as a Credit Ratings Agency for their attempts to avoid accountability and use their ratings as a political weapon.

Tell the SEC:
"Revoke Standard & Poor's NRSRO designation as a credit ratings agency for their attempts to influence the political debate over deficit reduction and to use their ratings as a weapon to avoid accountability for their role in the 2008 financial crisis."


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