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View Full Version : Eric Holder going after S&P?


cleller
2/5/2013, 10:47 PM
An odd, but probably not undeserved development. Holder never went after any of the big greedy bankers that brought the country to its knees, so now he chooses to go after one of the ratings agencies that spit out crummy ratings on mortgages that the big greedy bankers bundled and sold until it all exploded.

The interesting part is that several ratings agencies were doing this, but S&P is the only one that downgraded the US credit rating during the 2011 crisis over the debt ceiling.

Holder is the kinda guy that would sidestep Bonnie and Clyde to prosecute Blanche Barrow.

http://www.reuters.com/article/2013/02/05/us-mcgrawhill-sandp-civilcharges-idUSBRE9130U120130205
FaninAma
2/5/2013, 11:21 PM
Except the Doj's motives are suspect at best because they ramped up their investigation AFTER S&P downgraded the US credit rating and they haven't gone after Moody's or any other credit rating agencies who are just as guilty as S&P in shoddy credit reviews of mortgage backed securites pre-2008.
soonercruiser
2/6/2013, 04:20 PM
No S&P cronies in the WH???
diverdog
2/6/2013, 05:27 PM
Except the Doj's motives are suspect at best because they ramped up their investigation AFTER S&P downgraded the US credit rating and they haven't gone after Moody's or any other credit rating agencies who are just as guilty as S&P in shoddy credit reviews of mortgage backed securites pre-2008.

Moody's will be sued. Bank on it .
SoonerorLater
2/6/2013, 06:03 PM
This is the horse's head in Moody's bed.
cleller
2/6/2013, 06:08 PM
Moody's will be sued. Bank on it .

We need to set up a Vbet on this, and whether Holder can ever get anything accomplished in this area.
diverdog
2/6/2013, 09:29 PM
We need to set up a Vbet on this, and whether Holder can ever get anything accomplished in this area.

The stock is already falling an then buzz is they a next. I hope both of them get sued into oblivion.
cleller
2/6/2013, 10:58 PM
The stock is already falling an then buzz is they a next. I hope both of them get sued into oblivion.

Moody's? It was up over 5% today. Wow. Can't find a good reason, but did read one story that a source inside the Justice Dept said they dropped their investigation of Moody's in 2011.

Now, McGraw-Hill, which owns S&P has been hammered the last few days.
diverdog
2/7/2013, 12:04 AM
Moody's? It was up over 5% today. Wow. Can't find a good reason, but did read one story that a source inside the Justice Dept said they dropped their investigation of Moody's in 2011.

Now, McGraw-Hill, which owns S&P has been hammered the last few days.

Good lord I should quit typing on an iPhone. That sentence was almost unreadable.

Wow that was a turn around. It was down when I looked at it and it is still down about ten bucks a share from its high. I thing Fitch will get sued as well.
diverdog
2/7/2013, 12:05 AM
Moody's? It was up over 5% today. Wow. Can't find a good reason, but did read one story that a source inside the Justice Dept said they dropped their investigation of Moody's in 2011.

Now, McGraw-Hill, which owns S&P has been hammered the last few days.

Good lord I should quit typing on an iPhone. The sentence you responded to was almost unreadable.

Wow that was a turn around. It was down when I looked at it and it is still down about ten bucks a share from its high. I think Fitch will get sued as well.

From what I read they dropped the criminal investigation against Moody's.
KantoSooner
2/7/2013, 09:48 AM
To me, I don't care if Holder is doing this for the wrong reasons, at least he's starting somewhere, albeit late. That a single bastard involved in investment banking (or any segment of the loan industry) in this country in 2008 is still walking free is a crime in itself.
Those who were not criminally negligent were knowingly culpable.