Think you’ve got freedom of speech? Think you have the right to give an objective economic assessment of the economy or the credit worthiness of the U.S. Government to your clients? Think again! Don’t mess with Obama or disagree with his propaganda machine! And that machine says the economy is doing just fine, thank you, and if you disagree, the power of the President and the U.S. Government (through the DOJ) will be brought to bear on your ass!
The DOJ is expected to bring a “civil” suit against Standard and Poor’s because they have assigned “ratings” that aren’t always the best to government securities (like sub-prime mortgages and bonds, etc.).
The first question you might ask is why a civil suit and not criminal. That’s easy, because they (the DOJ) know they can’t meet the burden of proof a criminal case would require. Losing the case would be embarrassing; and kind-of prove S&Ps point.
No, better to go with a civil case where the burden of proof is much lower. Settle if you have to and declare that to be an admission of guilt. This is really only meant to send a message to S&P and the other agencies. Don’t #$@# with Obama!
This shit (what Obama and the DOJ is doing) is at best criminal, and really fascist. And by these terms, I mean heavy handed jack booted bullying and intimidation by the Federal Government.
On the criminal side it’s equivalent to organized crime telling a newspaper, “It would be a shame for yous newspaper to get all shot up, or burned down; or for yous editors or reporters to gets broken legs and all… I’m just sayin’ maybe yous shouldn’t reports alls the truth is all.”
On the fascist side, it’s like the government intimidating and shutting down opposition newspapers. It’s kind of what tyrants do to silence the opposition and accumulate power.
And what are the lapdogs in the Main Stream Media going to say? Here’s Reuters assessment. “The lawsuit itself may prove less significant than the message it sends. Filing a high-profile lawsuit against S&P tells the rating industry at large that the government is serious about holding rating agencies responsible, and that they must be much more careful.” — Jeffrey Manns, a law professor at George Washington University in Washington, D.C.
No Jeffrey (and by extent Reuters), the message isn’t about responsibility at all. It’s about NOT doing the responsible thing because that is not the message handed to Obama’s spoon fed propaganda machine (the MSM) which must not be questioned. You go against that message and we’ll hurt you! ^%$&er!