The focus of the blog is on the economic and financial uncertainties that the world economies will face over the next five years along with demonstrating how investors can profit and survive during the upcoming manipulated economic chaos. Please keep-in-mind that I don't provide investment advice. I am simply posting what my investment views of the market happen to be. Your investment decisions are solely your own responsibility.
Thursday, August 18, 2011
Payback Time, Justice Department Investigates S&P
Well, that didn't take too long. The Justice Department is investigating whether S&P, the nation’s largest credit ratings agency, improperly rated dozens of mortgage securities in the years leading up to the financial crisis. Now, to give the Justice Department its due, this investigation began before S&P cut the AAA credit rating this month. But, it has definitely gain momentum since the downgrade by S&P. Now, will the Justice Department go after the Bankers and Wall Street who knowingly bundled these troubled mortgages and sold them to the investment public? My answer to my rhetorical question is absolutely NO!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment