Film director Michael Moore called on U.S. President Barack Obama to arrest the directors of Standard & Poor's rating agency. He addressed his appeal to the head of state on his Twitter feed.
Moore claims that “these criminals” from S&P “brought down the economy” in 2008, and now they will do it again. To support his point of view the film director retweeted a message with a link to an article of 2002, which says that the S&P leaders are family friends of former President George Bush. Moore also cited a reporting where police raided the offices of S&P in Milan.
Michael Moore blamed the 2008 economic collapse on Standard & Poor’s because it did not downgrade mortgage-based bonds, which encouraged the housing bubble, says the Washington Times.
Friday August 5 was the first time when S&P lowered the U.S. credit rating from AAA to AA+, and warned that further downgrade might follow within 12—18 months. Trading on U.S. markets closed with a sharp decline of major indices on Monday August 8. Russian and Asian markets also saw a decline as a result of the U.S. rating downgrade.
Moore is the director of several documentaries on socioeconomic issues, such as Sicko (2007), which criticizes the U.S. healthcare system, Riot slackers (2008), and Capitalism: A Love Story (2009). Michael Moore's most famous film is Fahrenheit 9/11 which takes a look on terrorist attacks of September 2001.
