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"Deven Sharma, the president of Standard & Poor's, contributed to Sen. Kirsten Gillibrand's (D-N.Y.) campaign in 2009 and 2010. He also gave $2,000 to Rep. Jim Himes (D-Conn.) during the 2010 election cycle and to Sen. Mary Landrieu (D-La.) and then-Sen. Chris Dodd (D-Conn.) in the 2008 cycle.
Sharma contributed to one Republican last year, giving $1,000 to Sen. Rob Portman (R-Ohio)."
They act as if their lies will go uncontested. They are so silly.
This is about the most transparent move this administration has made. Obama cannot accept blame for anything. He always needs someone to point the finger at (Bush, congress, Tea Partiers, corporations, corporate jet owners, etc...), and now he can add S&P to the list even though they have been threatening a downgrade for the last year and a half.
Check out the stock market on Thursday morning, after news that the Obama administration is out to exact revenge on S&P for the downgrade.
Investors HATE IT when the awesome and arbitrary power of the government is used to destroy a company. So we just lost 4% of our wealth in the first hour of trading, in our mutual funds and stocks and 401(k)'s and IRA's. Thanks again, Mr. Obama, sir!
what do you know about it. This is Chicago-land, gangster-style, Daley-machine, third-world esqe banana-republic tactics. Every time some organization offends, destroy them??? Don't you see how wrong this is?
The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by the government and another briefed on such interviews.
...
During the boom years, S.& P. and other ratings agencies reaped record profits as they bestowed their highest ratings on bundles of troubled mortgage loans, which made the mortgages appear less risky and thus more valuable. They failed to anticipate the deterioration that would come in the housing market and devastate the financial system.
Since the crisis, the agencies’ business practices and models have been criticized from many corners, including in Congressional hearings and reports that have raised questions about whether independent analysis was corrupted by the drive for profits.
I have no problem with this - if the investigation would have occurred two years ago. Now, it just seems vindictive.
This is typical of this administration. People and entities may sin - but justice only occurs when the timing is to their advantage.
Do you read your own links?
The people with knowledge of the investigation said it had picked up steam early this summer, well before the debt rating issue reached a high pitch in Washington.
If there is vindictiveness in this story, it would be on the part of S & P, wouldn't it? They are being investigated, they don't like the questions they are being asked, they lower the credit rating.
Maybe I missed it, but who is investigating them exactly and for what?
The S&P isnt entitlted to their own opinion now? HITLER has arrived!!
They are being investigated for how they went about rating mortgage securities, how those ratings contributed to the mortgage bubble, and whether their ratings system was corrupted by their own profit motive. There is a link provided that any of you could READ.
They are being investigated for how they went about rating mortgage securities, how those ratings contributed to the mortgage bubble, and whether their ratings system was corrupted by their own profit motive. There is a link provided that any of you could READ.
Thats what I thought. Nothing at all to do with the downgrade.
let me know how that "investigation" turns out, because I know for a FACT that loans with governmental guarantees had AAA credit ratings like they should have at the time. Governmental guarantees are rated the same as the governmental ratings.
One second liberlas moan they had too high credit ratings on governmental guarantees, the next second, the ratings arent high enough. Make up your mind liberals.
Thats what I thought. Nothing at all to do with the downgrade.
let me know how that "investigation" turns out, because I know for a FACT that loans with governmental guarantees had AAA credit ratings like they should have at the time. Governmental guarantees are rated the same as the governmental ratings.
One second liberlas moan they had too high credit ratings on governmental guarantees, the next second, the ratings arent high enough. Make up your mind liberals.
Great attempt at deflection! Loans with governmental guarantees are not necessarily the financial instruments in question. But that was an outstanding job of deflection!
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