The Justice Department is reportedly investigating whether credit ratings
agency Standard and Poor's improperly rated dozens of mortgage securities in years leading up to the financial crisis.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.
Read more: http://www.foxnews.com/politics/2011/08/17/doj-reportedly-investigating-standard-poors/#ixzz1VO0e6SFx
Labels: Justice investigating S and P