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!

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