Mendacious, Duplicitous Fraud: Do I suspect S & P KNEW the Justice Department was coming after them? Was the reducing of the US credit rating a shot across the bow for a complaint they knew soon would be sailing their way? Who can know? At the very least I personally cannot know.
In the alternative perhaps the Justice Department under the order of someone higher up said sock it to these disgusting hypocrites. That S&P could downgrade anything much less the nation and bring the stock market in a downward spiral inside of two days, makes them a laughing stock. It would be like Bernie Madoff rating someone on their honesty.
S & P is perhaps one of the most EGREGIOUS offenders in the economic near Depression of 2007 under Bush, rating stock Triple A, being paid by the ones who sell the stock so that the buyers were totally defrauded. S & P in its phony ratings and collusion with companies like Goldman Sachs is guilty of nothing less than outright FRAUD and securities violations to the maximum degree. They could and should not rate a pair of shoes much less rate trillions of dollars of phony junk stock.
Human beings are in the mix here. Let me say that again in a different way. S & P rating company lackeys and their Wall Street masters made war against this country. Rick Perry, you want to talk about treason? Let's talk about Wall Street treason and the rating companies would go to the head of the class! Shameless utterly singularly shameless greed with NO boundaries and NO ethics and NO regulation. But go ahead elect another Republican to Congress and god forbid the presidency and see what you get with no regulation.
Wall Street needs a Pecora Commission times TEN and with teeth. I have been saying for two years that cells next to Bernie Madoff should be reserved. Heck reserve whole floors and put the privatized prison system to good use.Lock up the REAL criminals who took people's jobs, their savings, their homes and their lives and laughed all the way to the bank while doing it!