ABC Financial Expert Slapping S&P As 'Suspect' Is Undisclosed Obama Fundraiser
The predictable MSM reaction to Standard & Poor's downgrading of the US government's credit rating? Kill the messenger, of course. Yesterday, we noted how Jeff Glor at CBS' Early Show parroted the Obama line about the downgrade being "political."
Today it was ABC's turn. Good Morning America had on Mellody Hobson, a regular ABC "financial contributor" and former host of her own ABC financial-advice show. Hobson hit S&P hard, expressing the view that "everything that they do is suspect."
There's just one little factoid ABC didn't share with viewers. While presented as a presumably objective financial expert, Chicagoan Hobson in fact is an Obama partisan. Hobson served as a big-time fundraiser during Obama's 2008 presidential campaign and is involved with his 2012 campaign.
View video after the jump.
DAN HARRIS: America's credit rating has now been knocked down a peg by Standards [sic] and Poor's. This morning a question a lot of people are asking: who are these people who have sat in judgment of America?
. . .
DAVID CURLEY: Who is Standard & Poor's? One of the three major rating agencies which highlight investment risk. S&P is considered the gold standard among these. But that standard has was tarnished when all the rating agencies said those mortgage-backed securities, which brought down the economy, were solid AAA investments. Hauled before Congress, some now question that agency's credibility.
MELLODY HOBSON: Now they come in, and they flex. As if they've been, you know, this bastion of, of correctness, when they've completely been wrong. So now, everything that they do is suspect, in my view.