Bad Movie Logo
"A website to the detriment of good film"
Custom Search
Welcome, Guest. Please login or register.
Did you miss your activation email?
November 25, 2015, 07:18:47 AM
557416 Posts in 42578 Topics by 5500 Members
Latest Member: BVLAubrey Forum  |  Movies  |  Press Releases and Film News  |  Report: Government probe of Standard and Poor's « previous next »
Pages: [1]
Author Topic: Report: Government probe of Standard and Poor's  (Read 475 times)
B-Movie Kraken

Karma: 1643
Posts: 11791

Either he's dead or my watch has stopped!

« on: August 17, 2011, 11:01:05 PM »

Report: Government probe of Standard and Poor's  
AP – 8 mins ago
WASHINGTON (AP) — The Justice Department is investigating whether the Standard & Poor's credit ratings agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis, The New York Times reported Wednesday.

The investigation began before Standard & Poor's cut the United States' AAA credit rating this month, but it's likely to add to the political firestorm created by the downgrade, the newspaper said. Some government officials have since questioned the agency's secretive process, its credibility and the competence of its analysts, claiming to have found an error in its debt calculations.

The Times cites two people interviewed by the government and another briefed on such interviews as its sources. According to people with knowledge of the interviews, the Justice Department has been asking about instances in which the company's analysts wanted to award lower ratings on mortgage bonds but may have been overruled by other S&P business managers.

If the government finds enough evidence to support a case, it could undercut S&P's longstanding claim that its analysts act independently from business concerns. The newspaper said it was unclear whether the Justice Department investigation involves the other two major ratings agencies, Moody's and Fitch, or only S&P.

S&P and other ratings agencies reaped record profits as they bestowed their highest ratings on bundles of troubled mortgage loans, which made the mortgages appear less risky and thus more valuable. They failed to anticipate the deterioration that would come in the housing market and devastate the financial system...

If you want to view paradise . . . simply look around and view it!
Frightening Fanatic of Horrible Cinema

Karma: 741
Posts: 8461

« Reply #1 on: August 20, 2011, 09:14:19 AM »

Both "agencies" deserve massive dowgrades.

Archeologist, Theologian, Elder Scrolls Addict, and a
Frightening Fanatic of Horrible Cinema

Karma: 1525
Posts: 9231

A good bad movie is like popcorn for the soul!

« Reply #2 on: August 21, 2011, 08:42:36 AM »

Maybe a little political payback here?  One corrupt, badly run bureaucracy investigates another corrupt, badly run bureaucracy for being corrupt and badly run?

"Carpe diem!" - Seize the day!  "Carpe per diem!" - Seize the daily living allowance! "Carpe carp!" - Seize the fish!
"Carpe Ngo Diem!" - Seize the South Vietnamese Dictator!
Pages: [1] Forum  |  Movies  |  Press Releases and Film News  |  Report: Government probe of Standard and Poor's « previous next »
    Jump to:  

    RSS Feed Subscribe Subscribe by RSS
    Email Subscribe Subscribe by Email

    Popular Articles
    How To Find A Bad Movie

    The Champions of Justice

    Plan 9 from Outer Space

    Manos, The Hands of Fate

    Podcast: Todd the Convenience Store Clerk

    Faster, Pussycat! Kill! Kill!

    Dragonball: The Magic Begins

    Cool As Ice

    The Educational Archives: Driver's Ed

    Godzilla vs. Monster Zero

    Do you have a zombie plan?

    ImageThe Giant Claw - Slime drop

    Earth is visited by a GIANT ANTIMATTER SPACE BUZZARD! Gawk at the amazingly bad bird puppet, or chuckle over the silly dialog. This is one of the greatest b-movies ever made.

    Lesson Learned:
    • Osmosis: os·mo·sis (oz-mo'sis, os-) n., 1. When a bird eats something.

    Subscribe to and get updates by email:

    HOME B-Movie Reviews Reader Reviews Forum Interviews TV Shows Advertising Information Sideshows Links Contact is owned and operated by Andrew Borntreger. All original content is © 1998 - 2014 by its respective author(s). Image, video, and audio files are used in accordance with the Fair Use Law, and are property of the film copyright holders. You may freely link to any page (.html or .php) on this website, but reproduction in any other form must be authorized by the copyright holder.