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Mainecoons
02-05-2013, 10:25 AM
The S&P was the first major credit agency to downgrade the United States' triple-A credit rating.

Now the S&P may pay a heavy price for doing so as the Obama administration gets revenge with legal action against the rating agency.

The New York Times (http://dealbook.nytimes.com/2013/02/04/u-s-and-states-prepare-to-sue-s-p-over-mortgage-ratings/) reported Monday: "The Justice Department plans to file civil fraud charges against the nation’s largest credit-ratings agency, Standard & Poor’s, accusing the firm of inflating the ratings of mortgage investments and setting them up for a crash when the financial crisis struck."

OK. but. . .


The Times' story noted that neither Fitch nor Moody's, credit agencies that also gave high credit ratings to such mortgage instruments, have been included in the Justice Department suit.

Fitch or Moody's also have never downgraded the U.S. credit rating.

So S&P who had the balls to tell the truth about Obama's money printing gets singled out for a retaliatory lawsuit for the same practice that all the rating agencies followed.

Where does it stop with these thugs?

http://www.newsmax.com/Newsfront/obama-sues-s-P-downgrade/2013/02/04/id/488865

Chris
02-05-2013, 10:36 AM
Couple that with Surprise! Dodd-Frank Helps JPMorgan Chase (http://www.cnbc.com/id/100431660):


When President Barack Obama signed the Dodd-Frank financial reform bill into law three years ago, he promised it would encourage healthy change and competition.

...How is that working out? It turn out that in the view of the head of one of the biggest banks in the United States, Dodd-Frank is helping the big banks by making the cost of regulatory compliance so high that smaller rivals cannot compete.

Talk of crony capitalism!

Cigar
02-05-2013, 11:53 AM
http://stickylearning.typepad.com/.a/6a010535c38f18970b010536c0588b970b-500pi

Chris
02-05-2013, 11:55 AM
Ignore if you're bored but don't be boorish.

Cigar
02-05-2013, 11:58 AM
Ignore if you're bored but don't be boorish.

Or you can just say it's irrelevant ...

Chris
02-05-2013, 12:02 PM
Or you can just say it's irrelevant ...

Your bored and boorish yawn? Yes, it is irrelevant. If you've got nothing to say why post?

Cigar
02-05-2013, 12:11 PM
Ignore if you're bored but don't be boorish.

//archived//

Chris
02-05-2013, 12:16 PM
//archived//

You're like a kid photobombing. You seem to want to sweep Obama's crony capitalism under the rug of your frivolous nonsense. Of course if it were Bush you'd be whining about it.

zelmo1234
02-05-2013, 01:58 PM
The nice part is that S & P has with in it's power the right to down grade the government again.

If they downgrade to a "B" or "A" negative then the USA will have to raise interest rates, and will not have the money to go through with the prosicution!

This Obama is like dealing with a 4 year old, If he does not get his way, he throws a temper tantrum

Carygrant
02-05-2013, 06:57 PM
Bloody nonsense .
The agencies had become laughing stock under the Reps .
They were commenting on the very people who paid their wages . And they lied and/ or turned blind eyes every step of the way .Some of the biggest scum in the game .
They are not much better today . Most of the top American Banks should be on B- rather hovering around AAA minus
.Just watch the carnage when the Bond Bubble bursts for trillions . It's only those deserting the Bond Markets that is holding equities and Wall Street presently . Could last another 6 months .
Dow ca 14000 current .
I will take bets it will hit 7000 sooner than later .

GrumpyDog
02-06-2013, 02:13 PM
Rush Limbaugh has pegged Obama as "Santa Claus".

WRONG AGAIN.

Obama is the ILLUSION of Santa Claus.

Santa Claus actually sometimes visits the house and actually does fulfill a promise.

With Obama, Santa never arrives, or, if by some odd fluke, he does, your house is no longer yours, and has been repossessed by the banks that Obama bailed out with your last tax dollar.