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S&P said to face U.S. probe on mortgages

Started by 11B4V, August 18, 2011, 09:28:01 AM

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11B4V

August 18, 2011, 09:28:01 AM
http://money.cnn.com/2011/08/18/news/companies/sp_investigation_mortgages/index.htm?hpt=hp_t1
QuoteNEW YORK (CNNMoney) -- Ratings agency Standard & Poor's is being investigated by the U.S. Justice Department for allegedly overrating mortgage-backed securities, whose meltdown led to the 2008 financial crisis, according to a report published Thursday.
That's right bitch.
"there's a long tradition of insulting people we disagree with here, and I'll be damned if I listen to your entreaties otherwise."-OVB

"Obviously not a Berkut-commanded armored column.  They're not all brewing."- CdM

"We've reached one of our phase lines after the firefight and it smells bad—meaning it's a little bit suspicious... Could be an amb—".

Valmy

#1
August 18, 2011, 09:29:35 AM
Don't mess with the bull. You'll get the horns.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

Malthus

#2
August 18, 2011, 09:30:37 AM
Seems absurdly petty, if it is related to S&P's downgrade of the US.
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane—Marcus Aurelius

HVC

#3
August 18, 2011, 09:34:34 AM
following italy's lead? that's never a  smart choice :D
Being lazy is bad; unless you still get what you want, then it's called "patience".
Hubris must be punished. Severely.

11B4V

#4
August 18, 2011, 09:35:29 AM
S&P must be choir boys..eh
"there's a long tradition of insulting people we disagree with here, and I'll be damned if I listen to your entreaties otherwise."-OVB

"Obviously not a Berkut-commanded armored column.  They're not all brewing."- CdM

"We've reached one of our phase lines after the firefight and it smells bad—meaning it's a little bit suspicious... Could be an amb—".

HVC

#5
August 18, 2011, 09:36:45 AM
The Justice department has been holding the trump for 3 years but waited until now? Possible, but either they're petty or incompetent.
Being lazy is bad; unless you still get what you want, then it's called "patience".
Hubris must be punished. Severely.

Valmy

#6
August 18, 2011, 09:38:20 AM
Quote from: HVC on August 18, 2011, 09:36:45 AM
The Justice department has been holding the trump for 3 years but waited until now? Possible, but either they're petty or incompetent.

Why does it have to be either?
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

HVC

#7
August 18, 2011, 09:42:52 AM
Quote from: Valmy on August 18, 2011, 09:38:20 AM
Quote from: HVC on August 18, 2011, 09:36:45 AM
The Justice department has been holding the trump for 3 years but waited until now? Possible, but either they're petty or incompetent.

Why does it have to be either?
occams razor. easiest explanation :P
Being lazy is bad; unless you still get what you want, then it's called "patience".
Hubris must be punished. Severely.

Barrister

#8
August 18, 2011, 09:51:38 AM
Quote from: HVC on August 18, 2011, 09:42:52 AM
Quote from: Valmy on August 18, 2011, 09:38:20 AM
Quote from: HVC on August 18, 2011, 09:36:45 AM
The Justice department has been holding the trump for 3 years but waited until now? Possible, but either they're petty or incompetent.

Why does it have to be either?
occams razor. easiest explanation :P

What Valmy is saying is why can't they be BOTH petty and incompetent. :rolleyes:
Posts here are my own private opinions.  I do not speak for my employer.

11B4V

#9
August 18, 2011, 09:53:01 AM
Quote from: Barrister on August 18, 2011, 09:51:38 AM
Quote from: HVC on August 18, 2011, 09:42:52 AM
Quote from: Valmy on August 18, 2011, 09:38:20 AM
Quote from: HVC on August 18, 2011, 09:36:45 AM
The Justice department has been holding the trump for 3 years but waited until now? Possible, but either they're petty or incompetent.

Why does it have to be either?
occams razor. easiest explanation :P

What Valmy is saying is why can't they be BOTH petty and incompetent. :rolleyes:
Well course, it's the US govmint, but that's besides the point. :lol:
"there's a long tradition of insulting people we disagree with here, and I'll be damned if I listen to your entreaties otherwise."-OVB

"Obviously not a Berkut-commanded armored column.  They're not all brewing."- CdM

"We've reached one of our phase lines after the firefight and it smells bad—meaning it's a little bit suspicious... Could be an amb—".

11B4V

#10
August 18, 2011, 09:58:14 AM
I wonder if there will be bipartisan support. :huh:
"there's a long tradition of insulting people we disagree with here, and I'll be damned if I listen to your entreaties otherwise."-OVB

"Obviously not a Berkut-commanded armored column.  They're not all brewing."- CdM

"We've reached one of our phase lines after the firefight and it smells bad—meaning it's a little bit suspicious... Could be an amb—".

Barrister

#11
August 18, 2011, 10:01:18 AM
Now that being said, from what I recall the rating of some of those mortgage-backed securities were extremely dubious.  There were lots of stories of everyone saying "we knew these things were junk" back in 2008.

If they're starting their investigation now - it just sounds dubious.  But if they've been investigating for a couple years, and it just becomes public now.........
Posts here are my own private opinions.  I do not speak for my employer.

DGuller

#12
August 18, 2011, 10:05:42 AM
Justice Department moves very slowly, but very surely.  Online poker was banned in 2006, but it wasn't until 2011 that DoJ dropped the hammer. 

That said, I find the idea of government investigating while collar crime on Wall Street to be incredulous, so it may be a big of a Yukos effect going on, where the crooks that angered the government are suddenly having their crimes investigated, while the other crooks have their crimes overlooked (for now).

11B4V

#13
August 18, 2011, 10:06:24 AM
Quote from: Barrister on August 18, 2011, 10:01:18 AM
Now that being said, from what I recall the rating of some of those mortgage-backed securities were extremely dubious.  There were lots of stories of everyone saying "we knew these things were junk" back in 2008.

  But if they've been investigating for a couple years, and it just becomes public now.........
Interesting thought and I would not put it past the US GOV.
"there's a long tradition of insulting people we disagree with here, and I'll be damned if I listen to your entreaties otherwise."-OVB

"Obviously not a Berkut-commanded armored column.  They're not all brewing."- CdM

"We've reached one of our phase lines after the firefight and it smells bad—meaning it's a little bit suspicious... Could be an amb—".

Barrister

#14
August 18, 2011, 10:07:22 AM
Quote from: DGuller on August 18, 2011, 10:05:42 AM
Justice Department moves very slowly, but very surely.  Online poker was banned in 2006, but it wasn't until 2011 that DoJ dropped the hammer. 

That said, I find the idea of government investigating while collar crime on Wall Street to be incredulous, so it may be a big of a Yukos effect going on, where the crooks that angered the government are suddenly having their crimes investigated, while the other crooks have their crimes overlooked (for now).

If not the government, then who is going to investigate? :huh:
Posts here are my own private opinions.  I do not speak for my employer.
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