We’re happy to see the Department of Justice take Standard & Poor’s to court — but this civil suit represents just a small first step in holding Wall Street accountable for the 2008 financial crisis. Many people are still unsatisfied about the lack of prosecutions against Wall Street fraudsters. We need to make sure the [...]
|By: Brian Sonenstein Monday February 25, 2013 12:02 pm|
|By: Jane Hamsher Thursday September 29, 2011 10:43 am|
For their role in the mortgage crisis alone, S&P deserves to have their government seal of approval revoked for their reckless use of their ratings authority. A decision could be handed down any day. Call the SEC now and tell them to revoke S&P’s government seal of approval for their reckless use of their ratings authority
|By: Jon Walker Friday September 16, 2011 8:51 am|
The ratings agency Standard and Poor’s is threatening another downgrade of the United States credit rating if the Super Committee doesn’t get results. From Bloomberg: “If there were another downgrade, it would probably be because something has happened with the budget control act, that it has somehow been watered down” or “the fiscal committee doesn’t [...]
|By: Jon Walker Thursday August 18, 2011 7:21 am|
The United States’ Department of Justice is now investigating the rating agency Standard & Poor’s according to the NYT
|By: Jane Hamsher Wednesday July 27, 2011 1:31 pm|
The SEC should quickly investigate these clear violations of securities law on the part of David Beers and Standard & Poors, and strip them of their power to rate securities in the United States before they have the opportunity to inflict more damage than they already have. Why they still retain any authority at all, after the role they played in the 2008 financial meltdown, is a complete mystery.
|By: Jon Walker Wednesday July 27, 2011 9:00 am|
Although the debt ceiling fight isn’t over yet, it is now clear it won’t be the excuse President Obama wanted to justify quickly jamming through an austerity grand bargain. As much as Obama desperately tried to use this artificial crisis to justify cutting Social Security and Medicare in a secret deal, that opportunity slipped through [...]
|By: Jane Hamsher Tuesday July 26, 2011 9:23 am|
So say goodbye to your zoos, your parking meters, your bridges and your schools. Your airports, your harbors and your highways. The American public has an enormous investment in these things. But just as certainly as James Duke’s tobacco trust forced farmers to sell tobacco for less than it cost to grow, just as Russia was forced to sell its airport to the oligarchs and Poland was forced to sell its factories, so our municipalities and states and the federal government itself will be “forced” by a manufactured crisis to sell our assets off to private equity firms who are licking their chops at the prospect of owning America outright.
If you’re not outraged you should be. What Debbie did to Dallas, Standard and Poors is doing to you.