Summers's Bad Math Is S&P Informed Opinion

When Standard & Poorâ??s downgraded the U.S.â??s long-term credit rating from AAA to AA+ on Aug. 5, Washington went on the offensive. President Barack Obamaâ??s advisers blasted S&P. The administrationâ??s friends and allies came out with guns blazing. The Securities and Exchange Commission is reportedly scrutinizing S&Pâ??s procedures connected with the downgrade. And the Senate Banking Committee is said to be pondering an investigation -- into what exactly, committee members havenâ??t said.