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United States vs S&P

spsuit

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.

  • Financial Independence February 20, 2013, 7:55 am

    How could believe this is happening but yet same as with the banks there is only a few rating agencies and they are too big to fail.

    If not them, whom are we going to trust then?

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