Congrats to Holder for Suing S&P

[jwoodie]

The credit rating agencies are the real bad actors (along with the federal government) in our economic meltdown, giving AAA ratings to substandard mortgage backed securities. They essentially accepted money for committing a fraud on investors. I only wish they were criminally prosecuted as well.

 

[Katzndogz]

Holder wants to sue the world for not putting obama first.

Can he sue them enough to stop every credit reporting agency from telling the truth? The US is an economic basket case and no amount of lying can change it.

 

[Mr. Peepers]

You mean private industry, as in the financial corporations, were the main actors along with the credit rating agencies. The private sector was making BILLIONS off these loans and credit default swap bundles. The government just looked the other way, bowing to its corporate masters, as usual, in it's typical bought and paid for way.

 

[Soggy in NOLA]

What's going on with Holder's own little problem called "Fast and Furious"?



This is just another distraction to keep the useful idiots babbling about shit that means nothing while they go about destroying the country. What rubes.

 

[ba1614]

Red meat for the entitlement minded while he deflects from all the fuckups elsewhere.

 

[jwoodie]

Unlike the rating agencies, I only give credit where credit is due.

 

[TakeAStepBack]

We can not have S&P threatening a credit downgrade. So lets tie them up in legal debauchery.

 

[ba1614]

We can not have S&P threatening a credit downgrade. So lets tie them up in legal debauchery.

It's the progressive way, if you don't get the results you want, sue for them. Be it at the ballot box or something like a credit rating.

 

[Mad Scientist]

We can not have S&P threatening a credit downgrade. So lets tie them up in legal debauchery.

^This^

Also I don't think the OP realizes that it's a "Civil Suit" against a Company. If it were a Criminal Lawsuit against the people involved I'd have hope.

As it is the DOJ is gonna' make them pay a fine and admit no wrong doing.

 

[Dot Com]

Their entire business model was/is a sham. They only receive fees if they give their customers what they want- high ratings regardless of the true worth of what their rating. Anyone see a problem w/ that?

 

[CrusaderFrank]

And yet Fannie and Freddie are still in business and none the worse for wear.

Amazing

 

[Dot Com]

And yet Fannie and Freddie are still in business and non the worse for wear.

Amazing

FactWatch: Fannie and Freddie were followers, not leaders, in mortgage frenzy | The Center for Public Integrity

“The idea that they were leading this charge is just absurd,” says Guy Cecala, publisher of Inside Mortgage Finance, an authoritative trade publication. “Fannie and Freddie have always had the tightest underwriting on earth. … They were opposite of subprime.”

 

[Avatar4321]

Revenge for downgrading the country.

 

[g5000]

The ratings agencies gave AAA ratings to toxic CDOs in exchange for fees and ongoing business from the firms that built these fraudulent derivatives.

The certainly deserve to be sued, at the very least.

It was your 401k that was robbed. It was your insurance company that was robbed. It was your public employee pension fund that was robbed. It was your city treasurer who was robbed. It was your college endowment fund that was robbed. Higher insurance rates, higher taxes, higher tuition.

Wall Street is a thief with police protection.

 

[Mr. Shaman]

The credit rating agencies are the real bad actors (along with the federal government) in our economic meltdown, giving AAA ratings to substandard mortgage backed securities. They essentially accepted money for committing a fraud on investors. I only wish they were criminally prosecuted as well.

​

I'm guessing that's what's coming-up....prosecution!!

Let's SEE if there's any "honor, amongst thieves", when Wall Streeters start talking....to save their OWN individual-asses!!!!!!


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April 23, 2010


[ame=http://www.youtube.com/watch?v=4GNxvWT1Jm4]Will ratings agencies be held accountable? - YouTube[/ame]
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[ame=http://www.youtube.com/watch?v=1u4NpD_sZy0]credit rating agencies - YouTube[/ame]​

 

[Seawytch]

The ratings agencies gave AAA ratings to toxic CDOs in exchange for fees and ongoing business from the firms that built these fraudulent derivatives.

The certainly deserve to be sued, at the very least.

It was your 401k that was robbed. It was your insurance company that was robbed. It was your public employee pension fund that was robbed. It was your city treasurer who was robbed. It was your college endowment fund that was robbed. Higher insurance rates, higher taxes, higher tuition.

Wall Street is a thief with police protection.

Yeah, but must hate all things Obama...

 

[g5000]

The ratings agencies gave AAA ratings to toxic CDOs in exchange for fees and ongoing business from the firms that built these fraudulent derivatives.

The certainly deserve to be sued, at the very least.

It was your 401k that was robbed. It was your insurance company that was robbed. It was your public employee pension fund that was robbed. It was your city treasurer who was robbed. It was your college endowment fund that was robbed. Higher insurance rates, higher taxes, higher tuition.

Wall Street is a thief with police protection.

Yeah, but must hate all things Obama...

And defend all things which happened on Bush's watch.

 

[Seawytch]

The ratings agencies gave AAA ratings to toxic CDOs in exchange for fees and ongoing business from the firms that built these fraudulent derivatives.

The certainly deserve to be sued, at the very least.

It was your 401k that was robbed. It was your insurance company that was robbed. It was your public employee pension fund that was robbed. It was your city treasurer who was robbed. It was your college endowment fund that was robbed. Higher insurance rates, higher taxes, higher tuition.

Wall Street is a thief with police protection.

Yeah, but must hate all things Obama...

And defend all things which happened on Bush's watch.

Who? He who shall not be named? No way. He didn't exist. We went from the Clinton recession to Obama's. duh!

 

[CrusaderFrank]

Arming a Mexican drug gang and acting as an accomplice in the murder of a border guard....not egregious behavior

 

[g5000]

Yeah, but must hate all things Obama...

And defend all things which happened on Bush's watch.

Who? He who shall not be named? No way. He didn't exist. We went from the Clinton recession to Obama's. duh!

Jimmy Carter and Bill Clinton forced the ratings agencies to rate loans to negroes as AAA. Yeah, that's it...

Oops. I didn't mean to blurt out "negroes". I meant to say "lower income people".