USG to sue Standard & Poors over rating fraud

In Polytricks on February 5, 2013 at 8:10 am

News that the USG ‘plans’ to sue rating agency Stardard & Poors for rating fraud connected to the 2008 crash made me smile.  Was it pay-back for S&P’s downgrading of US debt two years ago?  Or is the key word here ‘plans’.  There is more than enough hypocrisy to go around between these two corrupt institutions.

S&P along with all other rating agencies were eagerly bidding-up crap mortgage ‘instruments’, (aka criminal fraud).  The USG bailed these crooked banksters out.  Then S&P had the temerity to downgrade US debt.  Talk about biting the hand that feeds you.

My guess is that the USG is looking to shake S&P down for some hard cash.  Rather like the slap on the wrist that HSBC got for laundering billions of dollars in drug money.  Nobody will go to jail but the fines will be hefty.  The USG is acting like  the local cops shaking down the local drug dealer for some protection money.

Its all about exercising power and raising more money for the clubhouse.  The corruption and criminality has seamlessly integrated government and business.



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