Feb 09


U.S. Attorney General Eric Holder brought forward a lawsuit against S&P this week. The same S&P whose name is licensed for its stock index is also a rating agency. In theory, they are supposed to produce a rating that reflects the risk of a given bond defaulting. In reality, they were complicit in promoting a fraud by issuing ratings that were beyond reason, and they are now accused of issuing ratings they themselves, didn’t believe.

written by Joe \\ tags: , , ,