Benzinga's Political Roundup June 3, 2011

Moody's (NYSE: MCO) said all the political posturing in Washington could lead to the rating agency downgrading U.S. debt if no progress is made on increasing the debt limit.

The Securities and Exchange Commission is investigating some accounting firms over their audits of Chinese companies.

Fiat is going to pay the U.S. government $500 million for the rest of its stake in Chrysler.