The political backlash against S&P

Political revenge may be coming, and yet the ratings agencies are considered by law a form of protected speech.

Keep in mind it was the federal government, and the regulatory state, that elevated the power of these agencies in the first place.

If all they do is take away the protected political status of those agencies, I am fine with the outcome but still I do not like the process.  That the agencies were a) often mistaken in the past, and b) lobbied the government for privileges in the past, does not appease me.  Exercising free speech rights should not lead to regulatory retaliation from Congress, even if some of the changes are good ones.


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