More leftist thuggery.
(The Hill) — Rep. Dennis Kucinich (D-Ohio) is demanding detailed financials from Standard & Poor’s parent company, accusing the firm of having an “inherent conflict of interest” in its decision to downgrade the nation’s credit rating.
In a letter sent Tuesday to the head of McGraw-Hill, which owns S&P, Kucinich called for financial documents detailing any and all holdings the company has in Treasury securities. He contended in the letter that if the company owns government debt, S&P’s decision to downgrade could have an effect on McGraw-Hill’s investment portfolio.
Kucinich noted that all rating agencies likely have a conflict of interest by investing in Treasuries while rating them, but he argued it was not relevant as long as all of them agreed to rate the bonds AAA — the highest rating.
He added that if he does not receive all information tied to the company’s Treasury investments within two weeks, he will have no choice but “to conclude that there is something that McGraw-Hill is hiding, and that a thorough investigation … is warranted.”