Road To Discredit

Ever since the 2008 collapse of the real-estate and financial bubbles, the government’s been using its credit card to stop bad companies (arguably including S&P itself) from paying the ultimate price for their failures in the run up to that crisis. Since he took office, Obama's strategy has been to double down on the nation's failed financial elite, from Fannie Mae and Freddie Mac to AIG to Bank of America. In a free market, these companies would be kaput.