The Justice Department is investigating whether S&P may have improperly rated mortgage securities in the years leading up to the financial crisis. We know that they did. But we also know that Moody’s and Fitch did as well. It’ll be interesting to see where this all leads, but I’m sure accusations will fly, not that they won’t be completely without merit. That said, I hope justice is served.
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So they’re saying Standard & Poor’s has some poor standards? Hope I’m the first to make that joke…