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PAYBACK: Justice Dept investigates S&P
LOL - Don't mess with the Big O.
The Justice Dept is now investigating S&P. Is this OBYs revenge for the downgrade? Actually,
this investigation started before the downgrade, but at the same time, the S&P
had been threatening a downgrade for sometime if Wash didn't tame it's debt. That's
what they do. It's unknown if the other houses that downgrade bond ratings like Moody's
and Fitch are under investigation.
So now they're being investigated and if you dig far enough on anything or
anyone you will find dirt and some think there is dirt in S&Ps house on some
of the profits they've made.
In the mortgage inquiry, 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, according to the people with knowledge of the interviews. If the
government finds enough evidence to support such a case, which is likely to be a civil case, it could
undercut S.& P.’s longstanding claim that its analysts act independently from business concerns.
This is a classic example of this govt's infringement on private rights. This
administration has attacked people for criticizing it like Limbaugh, Hannity
Cramer and Coulter. Now they're going after the company that downgraded
it for the first time ever and causing a financial crises.
But OBY isn't the first one to do this. This kind of reminds me of the time Kennedy sent IRS after
Nixon's mother when she was in the nursing home-lol. Nixon briefed Kennedy on his activities as VP
under IKE. Nixon forgot or deliberately didn't tell him about Track 2 which was the operation he ran
to kill Castro from the same basement office in the White house that Oliver North ran his Contra
Affairs twenty years later.
Nixon probably did it to embarrass JFK. When the first hit on Castro failed and JFK was
embarrassed getting the blame for trying to kill him and he didn't even know about it,
he was furious when he learned Nixon ran the operation and didn't tell him. So he sicked IRS on
his ill mother. Nixon got her out of it working for the most prestigious law firm in Mahatten at the
time - Mitchell's firm but there were some tense moments. Nixon probably didn't shed any tears
when Kennedy was killed and even said everyone knows Castro wanted to kill him to get even.
PAYBACK IS SWEET!
Again, this investigation started before the downgrade but they had been
threatening a downgrade for a long time and made good on their threats.
Last edited by AirFlacco; 08-18-2011 at 05:35 AM.