Exclusive: S&P hires top defense attorney for $5 billion lawsuit

I really want to see all these MEGA monopolies kicked out of the USA, preferably to China, where they will feel at home.

Culpable or not, too many financial institutions flocked to the U.S. governemnt for immediate settlement over frivolous accusations that they might not deserve the blame. If they respond in kind like S&P, Obama administration would not be pampered that much.

Even though a prolonged trial will be a waste of our tax dollars, I truly hope that S&P stands up against the attempted extortion by the US Government, and fights them to the finish. This case is obviously retribution against S&P for not playing along with the current administration, and more blame game aimed in the wrong direction (clue: start with Barney Frank).

The problem is that there’s so much corruption happening at the top of the economic food chain–top executives of major, billion dollar companies–that you’d almost have to go after everyone. And that can’t be done. It’s either something that is illegal, but has become THE way of doing business, or these powerful executives use their economic clout to get the laws changed to suit them. It’s not good, and it’s hard to imagine a realistic scenario where things genuinely improve. I don’t think even Teddy Roosevelt could get anywhere in today’s corrupt partnership between industry and government.

“Keker also helped Armstrong fend off a U.S. Justice Department investigation into doping last year. Armstrong admitted doping earlier this year,…”
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Abrams is making crap up again. This is precisely the kind of case that FIRREA was intended to cover. The only issue is why no one is going to jail. S&P and it’s employees aren’t TBTP, so I bet the reason is it would look bad to indict them and not the slugs on Wall Street.

@EthicsIntl
Rating agencies in USA are not monopolies be them mega or not. But it took long long time possibly a hundred years or so to build up goodwill and reputation. It’s just the intangible asset difficult to intrude on. China did open up a rating agency two years ago but it lacks credibility even to attract home clients to entrust to it.

Throw Mary Jo White after Keker and show who’s in charge of Wall Street.

No one will go to jail because it would send a bad message to Wall Street and threaten a catastrophic economic collapse.

Just ask Mr. “I’m going to Disney World” Breuer.