Justice Department Investigating S.&P. Over Mortgage Securities

Maybe this will discourage executives from using the revolving door during their career progression: bank -> SEC -> S&P -> bank etc.

I often wondered why Moodys, Fitch and S&P got away with the MBS issues. In some ways their failure there made me less concerned about the downgrade of the US debt. I mean, how authoritative could they be?

Doesn't this quote say it all?

"The investigation began before Standard & Poor’s cut the United States’ AAA credit rating this month"

I am pretty sure I predicted this on another post, and was downvoted (ahh...here we go: http://news.ycombinator.com/item?id=2853293).

I was wrong, not the US Treasury...but Justice department.

Here goes a roller coaster.

Yes, that should teach them a lesson.