Don't mess with Uncle Sam, US inquiry eyes S&P ratings of mortgages
Payback is sometimes a b*tch.
The NY Times reports that an investigation into S&P began before the ratings agency cut the United States credit rating earlier this month. But that action isn't likely to make life very comfortable for S&P.
“The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis... “
Photo, "Uncle Sam is Broke" courtesy of Flickr Creative Commons by Infrogmation