published Wednesday, August 17th, 2011

Report: Government probe of Standard and Poor's

WASHINGTON — The New York Times reports that 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.

A story on the newspaper's website late Wednesday cites two people interviewed by the government and another briefed on such interviews as its sources.

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

According to people with knowledge of the interviews, the Justice Department has been asking about instances in which the company's analysts wanted to award lower ratings on mortgage bonds but may have been overruled by other S&P business managers.

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AndrewLohr said...

One may question S&P's ratings (and others' ratings), and one may question the system that forces people to use certain rating agencies--and one may question why a bankrupt government is investigating an outfit that said the government is bankrupt. Compare promised spending with expected revenues, and the US is about $250 trillion in the hole. Jesus is libertarian--line up with Him.

August 18, 2011 at 6:10 a.m.
grandmastaj said...

Jesus would not align himself with anything political. He's above politics.

August 18, 2011 at 9:45 a.m.
Salsa said...

Sounds like a little Chicago style payback from the Feds.

August 18, 2011 at 3:52 p.m.
rolando said...

C'mon, guys.

Did you expect anything less from the guy who sets the IRS on anyone who criticize him? Withholds federal funding from them?

They had the audacity, not to win, but to challenge The Hussein's fiscal expertise at community organizing gained over years of Chicago politicking.

August 18, 2011 at 5:07 p.m.
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