Legg Mason's Bill Miller issues a scathing critique of S&P’s downgrade, calling it...

|By:, SA News Editor

Legg Mason's Bill Miller issues a scathing critique of S&P’s downgrade, calling it “precipitous, wrong, and dangerous," and urging Congress to end the "oligopoly" of NRSROs "before they contribute to or ignite another financial crisis." This sentiment likely is another reason shares of McGraw-Hill (MHP -6.1%) and Moody's (MCO -6.4%) are sharply lower.