Wait a minute .... aren't these the same asshats?

....."Moody’s Investors Service and Standard & Poor’s adjusted the way they graded securities after Goldman Sachs Group Inc., UBS AG and at least six more banks pressured them, according to a U.S. Senate report."  ......"Relying on mathematical models, Moody’s and S&P awarded AAA ratings to mortgage securities packaged during the five-year housing boom, deeming them as safe as government bonds. About 90 percent of AAA securities backed by subprime mortgages from 2006 and 2007 were later downgraded to junk status, Levin’s committee said.".....

Standard and Poor's issues a negative report and the stock market plummets?  I know it's a different "product" and a different time, but aren't they still the same asshats that bent under pressure to change the ratings of the sketchy mortgages?

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(Illustration by Victor Juhasz)

The best reporting of this stuff is in the Rolling Stone, done by Matt Taibbi. He explains everything clearly, and doesn't hold back on his outrage. And VIctor's illustrations always make me laugh.  Check it out.

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