February 5, 2013

ROGER KIMBALL ON THE S&P LAWSUIT: How do you spell “Retaliation”? “We are living with the most fiscally incontinent administration in U.S., perhaps in world, history. Both S&P and Moody’s took note of this incontinence and broadcast the news by downgrading U.S. debt in 2011. The result? A $1 billion law suit against S&P. Merely post hoc? Or do you discern a teensy bit of propter hoc there as well? I do.”

Hmm. I thought it was an ethical violation to threaten criminal action to bring about a civil settlement. “During settlement negotiations, the Justice Department held out the threat of a criminal case against S.&P., the people said.”

UPDATE: Now this is interesting. The part about criminal threats is now missing from the NY Times story, though the phrase still shows up in a search. I wonder why it was removed?


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