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S&P is trying to manipulate Washington for Wall Street's gain

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Dear Supporter,

Nearly 4,000 people signed a letter to Congress demanding key solutions to our nation's economic problems, including ending costly wars and taxing the rich.

Will you help us reach 10,000 signers?

Please sign and forward this email so we can be heard loud and clear.

Thanks,
Norman and the RootsAction Team

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This week began with a political bombshell -- when the Wall Street ratings firm Standard and Poor's threatened to downgrade the U.S. government's credit rating due to its deficit and debt.

At a time when extreme budget cuts to Medicare and other vital programs are on the table in Congress, S&P is trying to escalate a deficit-reduction panic along Pennsylvania Avenue. 

In short, S&P is trying to manipulate Washington for Wall Street's gain.

S&P is the same outfit that rated hundreds of billions of dollars in subprime-backed securities as investment grade. 

And S&P "gave Lehman, Bear Stearns and Enron top ratings right up until their collapse," the Center for Economic and Policy Research explains. S&P "has a horrible track record for judging credit worthiness." *

Click here to tell Congress not to be blackmailed by Wall Street.

Standard and Poor's record is poor indeed and should not set the standard for public policy.

We need to reverse priorities that continue to enrich those who are already too rich -- at the expense of everyone else. We need an end to gargantuan spending for perennial war. And we need progressive taxation that would force Wall Street to pay its fair share.

The last thing we should do is give in to threats from the very people who so recently wrecked the economy.

Tell Congress to end wars and tax Wall Street. 

Sincerely,   

Aimee, David, Norman, Sarah and the RootsAction team

Resources

If a Negative S&P Outlook for the U.S. Explains a Drop in Stock Prices, Why Did the Dollar Rise and Interest Rates Fall?

Video: The Real News Network: Why Did S&P Issue Warning on U.S. Bond Rating?


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