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Thursday, August 18, 2011

Justice Department Reportedly Investigating Standard & Poor's

The Justice Department is investigating whether the Standard & Poor's credit ratings agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis, The New York Times reported Wednesday.


The investigation began before Standard & Poor's cut the United States' AAA credit rating this month, but it's likely to add to the political firestorm created by the downgrade, the newspaper said. Some government 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.


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5 comments:

Anonymous said...

here's the deal, IF you hurt Obama's re-election chances, the JUSTICE DEPARTMENT comes after you. plain and simple.

lmclain said...

Well, nixon used the IRS. Obama uses the justice Dept. Power corrupts. Thats why we try (and usually fail) to limit the power these elected officials have....it's retaliation, no doubt.

Anonymous said...

agreed with 11:33, they are just looking to pass on the blame to someone else...

Its bad enough the people of the USA do this because they are not man or women enough to take their faults so they pass it on... Blame others for their mistakes... which is why kids are the way they are these days...

Anonymous said...

Just another example of how our government cannot take being wrong and now their objective is eliminate the opposition. We elect these bozo's to run our country and all they do is run it in the ground. Everyone at Standard and Poor's is in deep sh-t until King Obamma is gone!

Anonymous said...

If you bother to actually read the article, it atates that the investigation started BEFORE the downgrade.

It was S&P who gave AAA ratings to worthless mortgage bundles that started this recession.