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Money Morning Mailbag: U.S. Credit-Rating Agency Fights Back to China’s Attacks

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.
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