Corrupt Administration DoJ goes after S+P for downgrading US

Rectum the retard weighs in.

 

And, as usual, he didn't make comments or argue the article posted, but made some irrelevant comment regarding the site's front page.

 

Late yesterday afternoon, the Justice Department said it would sue Standard & Poor’s for rating mortgage-backed securities incorrectly during the 2008 financial crisis. This is funny on a number of levels; LOL — or laugh out loud — funny, in fact.

For one thing, why wasn’t Moody’s Investors Service sued? There’s no indication that Moody’s was any better at spotting the crappy mortgages that were bundled into securities by Wall Street and later sold (or taken over) by the government and taxpayers.

Could the exclusion of Moody’s have anything to do with the fact that Warren Buffett, a DC favorite who thinks he and other rich people are paying too little in taxes, is a major stakeholder in Moody’s?

But that’s not the funny part.

Back in August 2011, S&P started a chain reaction when it downgraded US debt from AAA to AA+. It was the first demotion for government securities in the history of this country.

More than two years later, the US still hasn’t fixed its debt problem. It still spends way more than it earns and could quite possibly be hit with another downgrade.

So is the US taking the offensive against S&P to keep the ratings firm in line at a crucial time in the discussions between Republicans and Democrats over how to handle the nation’s debt ceiling and profligate spending ?

That tactic, of course, could backfire. S&P could simply call Washington’s bluff and start rating all bonds — especially those issued by the government and its agencies — more strictly. Considering the Federal Reserve has been a shill buyer in the bond market for years, a close inspection of the viability of US government securities would be well warranted.

http://www.nypost.com/p/news/business/omg_us_mbs_suit_against_is_lol_funny_6Ov40Am46uuowTaiAB60QP

 

I suggest the "Marx" defense. Groucho Marx.

Those are my 'models", and if you don't like them... well, I have others.

 

That's the fun part of being an analyst - you get paid for "doing it" with models.