Backlash over US downgrade

Backlash over US downgrade


By Stephen Foley in New York

Friday, 19 August 2011

Standard & Poor's, the credit rating agency, is
trying to forestall a backlash from local governments in the US, which
were outraged when the company downgraded the US credit rating earlier
this month.

The city of Los Angeles has become the largest
municipality to fire S&P, which it had hired to rate the city's
investment portfolio. Manatee county in Florida and San Mateo county in
California have also dropped the agency, and at least one other county
in Florida is expected to follow suit.

http://www.independent.co.uk/news/business/news/backlash-over-us-downgrade-2340247.html


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REVENGE ???