WASHINGTON (AP) -- 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.
http://finance.yahoo.com/news/Report-Go … 52809.html
is this payback?
In light of the toilet paper S&P rated AAA l'd have thought it would be inevitable.
Americans think they can upgrade or downgrade other countries, but when it comes to them, they are unable to bear it. Because it is in USA, the S&P should keepup the ratings unchanged... the Americans think. This kind of selective upgrading and downgrading will help only for a short period. America cannot gain the lost glory any more. It should realise and conduct itself properly.
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Could this be how their first meeting went?
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