Money Morning Mailbag: U.S. Credit-Rating Agency Fights Back to China’s Attacks
August 13, 2010 at 06:00 AM EDT
Last week, the credit rating feud between Standard & Poor's Financial Services LLC and the Chinese firm Dagong Global Credit Rating Co. Ltd - which Money Morning Contributing Editor Martin Hutchinson examined late last month - heated up. Harold "Terry" McGraw III, chairman and chief executive of S&P said that companies like Dagong joined up with politicians and other countries to unfairly attack U.S. ratings firms. " If you're in a populist mood, you've got to find the villain, " McGraw told the Financial Times in an interview in Beijing. McGraw referred to comments made to the Financial Times in July by Guan Jianzhong, the chairman of Dagong.