Then why is the SEC public, it could arbitrarily issue fines and fuck with the share price of any company that didnt donate to your party, maybe it should be private too?
Different role, different scope, different situation. The SEC has limited power to target individuals compared to a credit rating agency. It would be a scandal to politicize the SEC, but it would not be the sort of nightmare that a politicized credit rating agency could become.
It is also worth pointing out that both the credit ratings and audits of publicly traded corporations are conducted by private-sector companies, not government agencies. The SEC's primary role is to ensure that the rules are being followed, which is a straightforward law-enforcement/regulatory role that makes sense for a government agency.
It is also worth pointing out that both the credit ratings and audits of publicly traded corporations are conducted by private-sector companies, not government agencies. The SEC's primary role is to ensure that the rules are being followed, which is a straightforward law-enforcement/regulatory role that makes sense for a government agency.