Bloomberg – one of many outfits that uncritically report what big credit ratings agencies say – especially regarding Venezuela and Argentina lately – reports this news:
Credit Rater S&P to Be Banned for a Year From Biggest Part of Commercial-Bond Market
The article notes “The CMBS probe is separate from a lawsuit by the Justice Department tied to subprime home loans that S&P rated before the credit crisis. S&P is expected to settle that matter as soon as this quarter for about $1 billion in penalties, people familiar with the matter said this month.”
So how long before Bloomberg and others publish an article citing S&P or Moody’s about Venezuela without saying a word about any of this?
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