George Will: S&P’s Reputation Is So Bad, Their Opinion ‘Isn’t Entitled To Any Respect’

As S&P downgrades United States debt for the first time ever, many Republicans and Democrats are pointing blame at each other for having caused the unprecedented occurrence. Yet conservative commentator George Will thinks that S&P has so little credibility that their assessment told us nothing new and that it’s rating perspective should have little economic effect.

Will unloaded on the ratings agency:

“Standard and Poor would have forfeited it’s good reputation, if it had a good reputation to forfeit these days. It having missed the entire mortgage-backed securities problem right under it’s nose. . . . They’re entitled to their opinion on our politics, but their opinion isn’t entitled to any particular respect.”

ABC’s Cokie Roberts agreed with the takedown of S&P, yet disagreed that the downgrade wouldn’t have an impact. Especially since it’s already a talking point for Republican presidential contenders that President Obama was the first president ever to lose the top rating, it seems whether S&P is “credible” might already be a footnote to the discussion.

Watch the clip from ABC below:

New: The Mediaite One-Sheet "Newsletter of Newsletters"
Your daily summary and analysis of what the many, many media newsletters are saying and reporting. Subscribe now!