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Joining the DOJ in filing sut aginst S&P (MHP -5.6%) are a number of states, including...

Joining the DOJ in filing sut aginst S&P (MHP -5.6%) are a number of states, including California, where AG Harris is suing under the state's False Claims Act. This would allow CA to collect triple damages on what it says were $1B in losses. Earlier joining McGraw Hill in tanking, Moody's (MCO) - maybe enjoying the political protection of having The Oracle as an investor - returns to near-unchanged.
Comments (12)
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Excellent, this is undoubtedly one of the best things to come out of the financial crisis. Short of people going to jail, which seems like it will never happen, this is the next best thing.
    5 Feb 2013, 12:07 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Credit agencies are useless.
    5 Feb 2013, 12:27 PM Reply Like
  • chopchop0
    , contributor
    Comments (3419) | Send Message
     
    Why pick on just MHP? Sue them all
    5 Feb 2013, 01:06 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    MHP is only company downgraded US. Something to do with that.
    5 Feb 2013, 01:28 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    "MHP is only company downgraded US. Something to do with that."

     

    I had forgotten about that. Again another government action that is not what it seems and it fooled even my normally pessimistic thought process. Good catch.
    5 Feb 2013, 01:34 PM Reply Like
  • chopchop0
    , contributor
    Comments (3419) | Send Message
     
    good catch
    5 Feb 2013, 01:50 PM Reply Like
  • Graniitti
    , contributor
    Comments (13) | Send Message
     
    This frivulous law suite has no merit.

     

    If it did, they would be sueing everyone of the rating agencies.

     

    This is very much FSB-style (very much something Putin likes to do against his adversaries) from Washington.

     

    S&P or anyone else with any credibility who tries to question the creditabilety of the fiscal state of United States Federal government will not go unpunished. US government is engaging in hindring the use of constitutional rights of S&P analysts.

     

    What they say about fiscal policy of the government is at the core of free speech in democratic system. Fiscal policy is at the core of issues that must be protected by free speech.

     

    Therefore: unless all are sued, they are just after S&P because of other reasons.

     

    This is just another kind of drone strike.
    5 Feb 2013, 04:07 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1665) | Send Message
     
    "S&P or anyone else with any credibility"

     

    Umm I think they lost any/all credibility they had when they rated subprime garbage AAA.
    5 Feb 2013, 08:12 PM Reply Like
  • BlueOkie
    , contributor
    Comments (5369) | Send Message
     
    I'm buying more MHP, thanks DOJ. Bet uncle sugar gets another downgrade for the other two
    5 Feb 2013, 04:23 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Blue,

     

    Do not bet against government. Government can make your life miserable. It is like inviting vampire in your house. He will suck your blood. Even government is wrong, MHP can come on its knees.
    6 Feb 2013, 08:00 AM Reply Like
  • bestforecast
    , contributor
    Comments (104) | Send Message
     
    "Big Brother borrows money from The Fed" Credit rater doesn't think Big Brother deserves triple A so removes it. The Fed calls DOJ to make Credit rater pay for its remarks. After all The Fed wants to get paid back all that money it lent to Big Brother. Can anyone else see what I see? first no right to bare arms, then higher taxes, and now no more freedom of speech. Are we in Russia or China?
    5 Feb 2013, 08:17 PM Reply Like
  • Graniitti
    , contributor
    Comments (13) | Send Message
     
    After a few days of sun light the DoJ case is rapidly loosing its shine.

     

    DoJ chose a civil suite based on a law that does not and did not apply to credit ratign activities. DoJ only wants to pass the political blame, punish for use of free speech and cause as much trouble as possible. S&P is the terrorist.

     

    You may claim you scored a field goal if the ball goes over teh bar and the crowd might cheer you if they are as ignorant of the rules as you hope - but when playing soccer you must kick the ball between the posts and under the bar to score.
    6 Feb 2013, 07:15 AM Reply Like
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