This is ridiculous. This is a warning shot over the bow of the "good ship S&P" not to try this again. Strong arm tactic by our highly admired SEC. Maybe they need to spend their time more wisely and look into the trading activity dealing with WAMU. That would keep them busy for quite some time especially with all the shareholder letters informing them of the illicit trading activity in WAMU shares. Highly unlikely of course!
You know for sure that they are going to find some dirt because S&P opened themselves to SEC scrutiny because of it's failures rating toxic mortgage backed securities and downgraded one of the safest securities you can invest in (Treasury Bills).
If Fish says Obama has a hand with this investigation I might agree but he does not have to actually be directly involved.
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