Friday, September 23, 2011

When you try to kill a king.....

You better succeed or you get it right in the ass! Makes you wonder why these guys  are rounded up after giving millions in campaign contributions  but they went after Oba mama by embarrassing him by downgrading the countries credit rating after the President kissed the Republicans ass to fix the problem and so  now they suffer.

First the CEO is fired and now the investigations begin and I wouldn't be surprised if a whole bunch of these scum aren't sent to prison or at least, ruined financially because of the cost of lawyers.

We needed more but that's what you get in "democracy" where all government offices are for sale!

SEC Launches Major Investigation Into S&P Downgrade | The Nation
he SEC is examining specific trades that bet against the stock market and were made right before Standard & Poor’s issued the downgrade. The market lost 634.76 points after the announcement, a 5.5 percent drop—this would have produced an enormous windfall for those traders.

Sources told the Journal that “unusually broad” subpoenas have been issued to some hedge funds, trading shops, and other Wall Street outfits asking for information about certain trades. The SEC wants to know who made the trades, who was the first to hear about the Standard & Poor’s downgrade, and whom they heard it from.

In addition, it’s possible that Standard & Poor’s itself has been subpoenaed. Any leaks would logically have come from either the company or the Treasury Department, which was alerted to the move. Sources told the Journal that, at the very least, the SEC has asked Standard & Poor’s to disclose which employees knew about the looming downgrade—and a spokesperson for Standard & Poor’s would not comment on whether they received a subpoena.

While it’s conceivable a Treasury Department official tipped off some Wall Street traders about the downgrade, Standard & Poor’s has a well-known and comfy relationship with Wall Street—which pays the company’s fees—and this might make it a more likely suspect.

The Journal notes that Standard & Poor’s met with large bond investors in the weeks leading up to the downgrade, and some of those investors are not commenting on whether they’ve received subpoenas:

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