The DoJ Goes After S&P, Not At All Coincidentally




But don't you dare call it retaliation. More like calculated misfeasance:

The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by the government and another briefed on such interviews.

The investigation began before Standard & Poor’s cut the United States’ AAA credit rating this month, but it is likely to add fuel to the political firestorm that has surrounded that action. Lawmakers and some administration officials have since questioned the agency’s secretive process, its credibility and the competence of its analysts, claiming to have found an error in its debt calculations.

Right.

The government didn't seem to care much when S&P was giving Grade A Awesome to Grade B Bullshit.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

2 comments:

Amen!!!

Junior:
Right on! This was my thought. Frannie and Yves should read this. Did you see the NYT article about the SEC destroying documents? It's a peach. Someday the public will figure out how the system works.

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