S&P parent McGraw-Hill says government's fraud case flawed

Comments (2)
USA4 wrote:

the government has no case. S&P should defend itself vigorously, and the law should be changed so that the defendant’s legal fees are covered by the government if the charges do not result in a guilty verdict. Otherwise, the government is able to extort ridiculous amounts of money from institutions by threatening lawsuits with its deep pockets (that is, taxpayers pockets).

Feb 12, 2013 11:02am EST  --  Report as abuse
Harry079 wrote:

“McGraw-Hill, which said S&P has beaten 41 cases related to its ratings”

Well then the question becomes how much are they willing to spend not to become 41-1?

The excuse of “everyone else was doing it” only works when your are are co-operating partner with the Administration like Goldman Sachs and Bank of America.

When you don’t co-operate by doing things like downgrading US debt you make yourself a target of retribution while the Administration can claim they are going after the “Evil Bankers”. With the DofJ it’s either get on board with the program or get thrown under the bus.

Feb 12, 2013 1:26pm EST  --  Report as abuse
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