One thought on “S&P

  1. Interesting couple of comments from Yves’ thread:

    slim-hat says:
    August 11, 2011 at 6:45 pm
    I think this [state atty generals going after rating agencies for playing illegal games] is already being done — so MA & VA are getting in a bit late.

    • JamesW says:
    August 11, 2011 at 8:46 pm
    Is everyone forgetting that it was S&P who threatened the state and local governments with downgrading their bonds when they began invoking the anti-predatory lending laws against the banksters?

    I believe this was in conjunction with the Office of the Comptroller of the Currency, back during the Bush administration, invoking that recondite clause from the National Bank Act of 1863 to prohibit the states from interfering with the banksters nefarious schemes to impoverish everyone while criminally enriching themselves. (My emphasis and notation)

    S&P also sorta threatened the government about new rules due under Dodd-Frank.

    Finance is complicated enough that a hell of a lot can be done illegally which gets by unless there’s a smoking gun — or emails.

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