Justice Department Investigating S.&P. Over Mortgage Securities

http://www.nytimes.com/2011/08/18/business/us-inquiry-said-to-focus-on-s-p-ratings.html?_r=1&emc=na

by acangiano • 15 years ago

17 5 15 years ago

bugsy• 15 years ago

Yes, that should teach them a lesson.

I am pretty sure I predicted this on another post, and was downvoted (ahh...here we go: http://news.ycombinator.com/item?id=2853293).

I was wrong, not the US Treasury...but Justice department.

Here goes a roller coaster.

talbina• 15 years ago

Maybe this will discourage executives from using the revolving door during their career progression: bank -> SEC -> S&P -> bank etc.

zheng• 15 years ago

Doesn't this quote say it all?

"The investigation began before Standard & Poor’s cut the United States’ AAA credit rating this month"

scottshea• 15 years ago

I often wondered why Moodys, Fitch and S&P got away with the MBS issues. In some ways their failure there made me less concerned about the downgrade of the US debt. I mean, how authoritative could they be?

Justice Department Investigating S.&P. Over Mortgage Securities

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