The Obama administration privately urged Standard & Poor's in recent weeks not to lower its outlook on the United States -- a suggestion the ratings agency ignored Monday, two people familiar with the matter said.Treasury Department officials had been discussing with S&P whether the ratings agency should change its outlook on the United States to "negative" from "stable," an indication that the country could lose its crucial AAA rating in coming years over its soaring debt levels.
Treasury officials told S&P analysts that they were underestimating the ability of politicians in Washington to fashion a compromise to curb deficits, a Treasury official said. They argued a change in ratings was not needed at this time because the debt was manageable and the administration had a viable plan in the works, the official said.
Another boatload of FAIL for team Bambi. People will support you as long as they aren't threatened by your actions. Well, Bambi... the investors are starting to look at you like a toxic asset. Enjoy.
Imagine what the press would say if George Bush had tried to influence the raters at the S & P. Of course, Dubya had no need to do so in the first place.