S&P Lobbies for Self While Downgrading US
While Standard & Poor's has downgrading of U.S. debt, it was spent millions on lobbying to limit federal oversight and protect its role in the financial markets. McGraw-Hill, parent company of S & P, has spent more than $ 11 million lobbying in the past 15 years, including at least $ 1 million S & P-related legislation, The Washington Post reported. The company employees have also donated more than $ 500,000 in contributions to federal candidates since 1989, mainly for the Democrats, according to an analysis of disclosure records by the federal government Sunlight Foundation.S & P, Moody Investors Service and Fitch Ratings, two other companies in the country top marks that to judge the creditworthiness of the government, have spent more than $ 16 million on lobbying in financial legislation, the Post reported. "S & P has a great club on Congress and the president, because the company can simply dictate public policies that have enormous implications for the country and the government," the Post quoted him as saying Holman."His influence on government scholarship can easily be used as a powerful tool to extract concessions from the federal government who are in the interests of S & P rather than the public interest." Officials with all three rating companies Financial analysts are keeping their walled lobbyists. "Our analysts convey independent opinions on the creditworthiness of the market by using strict criteria analysis", McGraw-Hill Patricia Rockenwagner told the Post. "Our lobbyists express opinions on public policy for the government.There is a strict firewall between the two - always has been, always will be.Henry J Firewall - News
S&P Lobbies for Self While Downgrading US
While Standard & Poor's was downgrading US debt, it was spending millions on a lobbying campaign to limit federal oversight and protect its role in financial markets. McGraw-Hill, S&P's parent company, spent more than $11 million on
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