• 03 Apr 2013 at 3:18 PM

S&P Cries “Conspiracy!”

Area 51. The Warren Commission. Watergate. Bush v. Gore. Ben Affleck’s Academy Award. All lead to only one conclusion: The lawsuits against S&P are a vast government conspiracy designed to take down the occasionally inaccurate—but not in a legally-actionable way, it assures—ratings agency by covering up something that does not need to be covered up.

Standard & Poor’s Ratings Services said the Justice Department failed to tell a federal judge the “true” reason the U.S. government is supporting 17 state attorneys general in their lawsuits against the rating firm.

In an eight-page filing Tuesday in U.S. District Court in Connecticut, the McGraw-Hill Cos. unit complained that Justice Department officials failed to tell the same judge in a filing last week that they have “actively collaborated with” the 17 states and are doing so “to this day….”

“The Department of Justice, as it should have advised this court, is no stranger to these proceedings, weighing in on some abstract issue of law,” S&P said in the filing. “It is a publicly declared ally of and collaborator with the State of Connecticut in every respect with regard to this case and it owed it to the court to say so.”

S&P Fires New Salvo in Battle With States [WSJ]

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  1. Posted by UFO | April 3, 2013 at 7:43 PM

    The DOJ, now headed by appointees of an administration that makes all thing finance the whipping boy of the crash, helping regional prosecutors and overseeing a broader strategy. And this against a company capable of handily defeating said regional prosecutors handily on an individual level, crying foul that another organization would take their own approach. Wow, the pot calling the kettle black, call Alex Jones and Bob Woodward.

    Or wait, I have an idea. Let's see the merits weighed and measured instead of settlement via beaurocratic fuckery and legal tomfoolery. Seeing the flagship company of an industry that should have known better be for once held accountable for their actions might have some long term benefit.

    I'll take indictment for $500, Alex