Greed

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Greed is one of the 7 mortal sins, so if S&P is guity of greed that it should be punished.
I still believe that the momentum for the investigation is suspicious... But maybe i'm reading to much conspiracy books

It wouldn't surprise me at all to find out that Moodys, Fitch and S&P disagree on the ratings of a quarter of the firms they rate. It is a judgment call in the end. Each person making the call will place more or less importance on each factor.

Now as to auditors, Auther Anderson got rightfully reamed over Enron. Time KPMG got reamed over Countrywide. As to S&P, well they don't audit. If everything they see, sworn as it is under SOX, says healthy, then ... You are supposed to be able to rely on sworn statements after all.

Now as to the S&P rating of the USA, they may have cleaned up their act and the rating is justified or they might have changed their internal targets as they don't want to get burned again. In the end the rating is just an opinion.

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Well said, Ozz. Excellent post throughout.

For me this is pure and simple retaliation. Is the way of Obama's saying don't mess with me...

Funny how we see two seemingly related topics and tie them together to draw a conclusion without proof.

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whatsupwithdat?

Picturing Cliff Claven, in one of the last Cheers episodes, slapping his knees, asking "What's up with that?!?" and Norm is the only one at the comedy club.

I don't have proof, as I'm just expressing an opinion which of course you have the right to disagree.
I also agree with you that President Obama is that kind of person, or have that kind of action line, however the momentum of the Investigation makes me wonder about it.
Again I agree, that the rating agencies, sometimes act by some rules that can be very unclear.
And for sure that the department of justice will find some ground to take them to court about this mortgage ratings that they have done.
I don't have any proof on this, but all organizations have dirt under their carpets, and S&P is not an exception, the question is if someone is willing to dig enough

News reports have already been saying the investigation was under way before the downgrade.

This all has to do with one thing. It is much easier for the DOJ to take one corporation into court rather than millions of liars for the fraud they did when they signed the loan papers.

If they lied, here are some of the possibilities:
1) They've flown under the radar because, somehow, they managed to keep up with payments. Does this seem possible?
2) They've been foreclosed on already. They have banks, creditors, whomever, harassing them for the money they owed before the foreclosure.
3) They will be foreclosed on. They have all that to look forward to.

This all has to do with one thing. It is much easier for the DOJ to take one corporation into court rather than millions of liars for the fraud they did when they signed the loan papers.

It should have never gotten to a point where people that were clearly not eligible were allowed to sign anything. Banks and mortgage institutions need to only look at themselves when they make paper that is worthless and they know it going into the sale. Remember they are the ones that are guarantying that the individual was cleared to get a loan.

Banks??? What part of a mortgage broker is a bank? Why do you think they were called sub-prime. No part of a bank ever saw them!

It was a wall street firm, now defunct, that should have caught on but "it was our most profitable line of business." They were making too damn much money to look at the total risk they were taking on. Since they were wall street they didn't have to prepare a risk report and pass it on to a regulator like a bank. Greed meet stupidity.

The other people who should have caught on were a couple of Government chartered loan companies, but they were forced by law to buy even junk. Nice social engineering law that was and still is. Oh I suppose S&P should have caught on if it wasn't lied to, but that now defunct wall street firm was the one paying S&P's invoice.

Radio commercials here are touting option ARM Super Jumbo's again, so it begins again as the laws still haven't been changed. SIGH! I thought there was supposed to be "Change."

I always learned that changes begins within one's self. If your case is so strong, why are you only sharing it with us on the S@H message boards?

gotta love how he adds the Conservo talk "social engineering" jargon. He's actually spewing out socially engineered thought brought to you and millions of dumbfounding dip$h!7$ by the conservative talking heads you see on fox and hear on AM radio

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

China is turning major creditor to both sides of atlantic and their main credit agency is Dagong. Their conclusions are pretty interesting to see: http://www.dagongcredit.com/dagongweb/english/pr/list.php?c=13&company=4&table=web_e_zxzx&type=49

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Mandtugai!

After reading a bit into the USA debt from dagong, it appears that its making a political statement that "communism could solve the US debt problem". It reads that the parties argue to much and because they are different can never make a clear decision.

Unlike the Chinese and their nifty 1 party rule that strips away individuality to make sure the persons elected do nothing out of the ordinary.

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

One party rule starts with mass killing of educated people in all those kommunist countries. Especially in russia and during 1930s in each those eastern countries there are around 10% of mass killing of total population occurred to clean up those of educated and better thinking capabilities.

In chinese case mass killing occurred what during 60s then soon after ping pong diplomacy started then in 80s open door policy ignited cheap labor invention for western business policy makers and today everyone is in each others trap.

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Mandtugai!