The news is leaking out that the White House was lobbying S&P for weeks not to issue its recent report in which it changed the US credit outlook from stable to negative. Think about that! When the market for mortgage backed securities collapsed, we heard repeatedly from the Democrats that the fault did not lie with their efforts to pressure lenders to make loans that were unlikely to be repaid. No, according to many Democrats, the fault was with bankers who made predatory loans and rating agencies who ignored the risks in mortgage backed securities while rating them triple A. It is hard for anyone other than a true believer to accept the idea of predatory lending. (Picture the evil banker forcing someone to accept tens or hundreds of thousands of dollars so that they can live in nicer place. After all, those evil bankers wanted to force the poor to take the money so that their banks could later be left with worthless loans.) That means that one of the principal complaints by the Democrats was that the ratings agencies had failed to do their jobs. Now, when the same ratings agencies are of the opinion that the US AAA credit rating is in jeopardy, Obama and the Obamacrats are lobbying the agencies to lie to the public and keep their opinions to themselves.
Why does this story get so little coverage in the media? This is not a minor item. It is a clear demonstration of the hypocracy of Obama and the Obamacrats.
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