Obama Seeking Revenge Against Standard & Poor's?
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Standard & Poor's Facing Justice Department Probe Over Improper Mortgage Ratings
08/17/11 11:43 PM ET 
WASHINGTON -- 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, The New York Times reported Wednesday.
The investigation began before Standard & Poor's cut the United States' AAA credit rating this month, but it's likely to add to the political firestorm created by the downgrade, the newspaper said. Some government officials have since questioned the agency's secretive process, its credibility and the competence of its analysts, claiming to have found an error in its debt calculations.
The Times cites two people interviewed by the government and another briefed on such interviews as its sources. 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.
If the government finds enough evidence to support a case, it could undercut S&P's longstanding claim that its analysts act independently from business concerns. The newspaper said it was unclear whether the Justice Department investigation involves the other two major ratings agencies, Moody's and Fitch, or only S&P.
S&P and other ratings agencies reaped record profits as they bestowed their highest ratings on bundles of troubled mortgage loans, which made the mortgages appear less risky and thus more valuable. They failed to anticipate the deterioration that would come in the housing market and devastate the financial system.
Companies and some countries – but not the United States – pay the credit ratings agencies to receive a rating, the financial market's version of a seal of approval. Before the financial crisis, banks shopped around to make sure rating agencies would award favorable ratings before agreeing to work with them. These banks paid as much as $100,000 for ratings on mortgage bond deals, according to the Financial Crisis Inquiry Commission, the Times said.
Critics say this business model is riddled with conflicts of interest since ratings agencies might make their grades more positive to please their customers.
The Times said the Securities and Exchange Commission also has been investigating possible wrongdoing at S&P, citing a person interviewed on that matter.
Ed Sweeney, a spokesman for S&P, said in an email to the Times: "S&P has received several requests from different government agencies over the last few years. We continue to cooperate with these requests. We do not prevent such agencies from speaking with current or former employees."
Representatives of the Justice Department and the SEC declined to comment on whether they are investigating the ratings agencies, the newspaper said.
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This corrupt "Justice Dept" is just a hand picked bunch of weinies via Obamao's politics.
They've already shown, and declared, that discrimination only is for blacks.
And, that they favor illegals.
And, that they want to take our guns by any dirty means necessary. (see guns walking into Mexico)...
This Obamao "justice" dept, is more like the KGB.
Really bad.
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This corrupt "Justice Dept" is just a hand picked bunch of weinies via Obamao's politics.
They've already shown, and declared, that discrimination only is for blacks.
And, that they favor illegals.
And, that they want to take our guns by any dirty means necessary. (see guns walking into Mexico)...
This Obamao "justice" dept, is more like the KGB.
Really bad.
This corrupt "Justice Dept" is just a hand picked bunch of weinies via Obamao's politics.
They've already shown, and declared, that discrimination only is for blacks.
And, that they favor illegals.
And, that they want to take our guns by any dirty means necessary. (see guns walking into Mexico)...
This Obamao "justice" dept, is more like the KGB.
Really bad.
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Kosar translation:
"I don't like it when somebody talks bad about Obamao and the dumb dems because I'm an independent pouty pouty"
complain complain complain.
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Kosar translation:
"I don't like it when somebody talks bad about Obamao and the dumb dems because I'm an independent pouty pouty"
complain complain complain.
Kosar translation:
"I don't like it when somebody talks bad about Obamao and the dumb dems because I'm an independent pouty pouty"
complain complain complain.
No he sucks I've expressed that. The worst president in my lifetime and I was alive when Carter was in office. What is worse is Congress.
All idealistic affiliations can suck it. You just can't get over the fact that there are people out there that don't side with a political affiliation, people who think for themselves. I KNOW it's not high school. You are doing exactly what they do in Congress. Do you see the similarities? So funny.
All I am saying Cal, is when have you offered up any solutions, other than the "Stop Spending" rhetoric you are fed? Yes, agreed the government needs to stop spending. Where, when, how, why.
Take a deep breath. And think for yourself for a change.
I offered how the US could make short term money to get people back to work. Right or wrong, I am thinking outside the Faux News box.
Get people back to work. When that happens let's get back to that table and cut the fooking pork.
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http://www.thedailyshow.com/full-episodes/thu-august-18-2011-anne-hathaway
Watch at about 02:30
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You'RE the fooking dolt, then.
more taxes on the rich will give the gov more money to create jobs for us?
Stop being such an independent political party anarchist.
You just don't want to blame anybody because you aren't smart enough to make up
YOUR mind who is at fault and why.
It's call - FIXING THE PROBLEM at it's source.
Fail that, and all money spent on jobs doesn't work, except to make the gov bigger and more expensive.
Economic freedom creates jobs. With that freedom comes investment in R&D and capital, and wealth. And the human capital
will have jobs and more money and they buy stuff. And inevitably, more companies can start to make stuff.
The only major fly in the ointment, so to speak, is China. They have obliterated small and large business to smithereens,
by saturating our markets with their cheap, slave labor wages products.
Go just about anywhere and try to buy something make in our U.S.A.
Like tennis shoes, or a kids swimming pool... or a spatula, or a microwave....
you name it. Most of it will be from China.
Making gov bigger never solves anything in terms of economic growth. It's just more expensive, and needs more and more money.
And it red tapes everything in sight to get that more money.
And finally, the money runs out and they keep spending anyways.
And then they need more and more money. Then they finally have to admit it's a disaster,
and they finally can't hold the dike together anymore with their billions of tons of duct tape,
and they have to cut spending dramatically, far more than they would have had to.
See Greece. And Italy. And Britain. Which leads to violent riots.
Which would be used by people like Obamao and all, to say "those devils don't care"...
and on and on it goes.
So, the solution is to cut spending.
Where? I don't have the time to figure out where, I'm busy and it isn't my job.
But it has to happen. The dammit dems do not want to cut spending, and eh... most of the Reps do.
So, vote Republican. Because your dimwitted indpendents just give the elections to dems.
And we get what we have now. Economic disaster.
So, unless you want to run for office... vote for Tea Party favored candiates, and watch the problems get fixed.
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Finally, see what happens when you just don't regurgitate links from Fox. An actual conversation. Glad to have you back.
While I do agree with the spending cuts, the amount of time for this to take effect would be LONG. You saw the bullshit that happened in Congress a month ago. Republicans and Tea Baggers don't see eye to eye 100%. Throw in the Dems, and you got a Royal rumble. And the battle continues. And not ONCE have I heard any Tea Bag canidate say how they are going to cut their OWN spending by reducing their OWN government. Look at the salaries of ALL workers for these canidates, a six figure secretary. Look it up.
I think more jobs is the answer right now. Then look at the spending cuts. If Obama had any balls to would tell the banks we bailed out to start selling the overstock of houses at a cut rate price to people who can AFFORD it and qualify under the new guidelines. Then we can get some new construction happening. I could be wrong if anyone has any input. They take the loss and use the record profits they are pulling in to cover it.
Even if these people couldn't afford these homes, I am sure some investors would by it up, knock them down and re-build.
Now if we could do BOTH, then we are really talking Cal.
Cal, I will run for president next year when I turn 36, will you be my vice president, lol.
Thoughts?
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And not ONCE have I heard any Tea Bag canidate say how they are going to cut their OWN spending by reducing their OWN government.
***************************************************
Because gov is out of control in size and expense.
You don't create jobs with bigger gov - except for gov jobs.
Which have to be paid for by... those will private sector jobs.
It's out of balance. Stop parroting Ron Paul, the independent crank.
I'd rather vote for Rand Paul..... @@
I'll be your VP, but I want to pick our head of agriculture, and you have to promise that you won't have any czars..... @@
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And not ONCE have I heard any Tea Bag canidate say how they are going to cut their OWN spending by reducing their OWN government.
***************************************************
Because gov is out of control in size and expense.
You don't create jobs with bigger gov - except for gov jobs.
Which have to be paid for by... those will private sector jobs.
It's out of balance. Stop parroting Ron Paul, the independent crank.
I'd rather vote for Rand Paul..... @@
I'll be your VP, but I want to pick our head of agriculture, and you have to promise that you won't have any czars..... @@
You don't create jobs with bigger gov - except for gov jobs.
Which have to be paid for by... those will private sector jobs.
Obama, Reid & Pelosi brag that they added 600,000 new government jobs.
How much did we spend for each job?
How much will we spend for the health care and retirement packages on these jobs?
And everyone wonders why the budget has almost tripled each year since Obama has taken office.
Obama and the rest of his cronnies shouldn't blame standard & Poor for the rating when they have acted so foolish.
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You don't create jobs with bigger gov - except for gov jobs.
Which have to be paid for by... those will private sector jobs.
Obama, Reid & Pelosi brag that they added 600,000 new government jobs.
How much did we spend for each job?
How much will we spend for the health care and retirement packages on these jobs?
And everyone wonders why the budget has almost tripled each year since Obama has taken office.
Obama and the rest of his cronnies shouldn't blame standard & Poor for the rating when they have acted so foolish.
Obama, Reid & Pelosi brag that they added 600,000 new government jobs.
How much did we spend for each job?
How much will we spend for the health care and retirement packages on these jobs?
And everyone wonders why the budget has almost tripled each year since Obama has taken office.
Obama and the rest of his cronnies shouldn't blame standard & Poor for the rating when they have acted so foolish.
Agreed. We need to convert those government jobs to the private sector.
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