Obama Admin Files Lawsuit Retaliating Against S&P For 2011 Downgrade

Based on the imperial regimes history does anyone doubt this lawsuit filed against the S&P is retaliation for the 2011 downgrade? The DOJ goes after reporters for doing their job. The IRS goes after enemies of the regime. The EPA will shut you down if you are not in lock step with the obama agenda either. Go against Common Core and the Dept of Education and you will have your share of problems. There are plenty of examples demonstrating every agency under this president acts like a thug enforcer against anyone who doesn’t do as they are told or talks out of line.

The lawless imperial president continues to bully the nation and our elected leaders remains silent. Nixon and Clinton were impeached for less than what this impostor president and his thugs have done to this nation. Fundamental transformation is almost complete, they just need to tank the economy and seize power.

S&P Accuses U.S. of Suing to Avenge Ratings Drop
by Jeannette Neumann | WSJ
Standard & Poor’s Ratings Services escalated its legal battle with the U.S. Justice Department, accusing it of filing its $5 billion lawsuit against S&P in “retaliation” for the company’s downgrade of America’s debt in 2011.

S&P’s defense, made in a court filing on Tuesday, shows that the world’s largest credit-rating company is digging in as it fights the Justice Department’s Feb. 4 lawsuit, which accused S&P of misrepresenting its rating process in the years before the financial crisis.

The Justice Department said that federally insured banks and credit unions bought debt deals rated highly by S&P because they thought such top-notch ratings indicated there was less risk than lower-rated securities. But behind the scenes, the government alleged, S&P was assigning high ratings to deals in order to please bankers and other clients. S&P has said such claims are “meritless.”

S&P has previously indicated that it believes the U.S. lawsuit was politically motivated, but the language in Tuesday’s court filing is its strongest to date.

The Justice Department “commenced this action in retaliation for [S&P’s] exercise of their free speech rights with respect to the creditworthiness of the United States of America,” lawyers for S&P wrote in court documents filed Tuesday in the U.S. District Court for the Central District of California.

A Justice Department spokeswoman said in a statement that “the allegation is preposterous.” S&P referred questions back to its Tuesday response to the U.S. lawsuit.

The civil complaint against S&P is a high-stakes lawsuit for the Justice Department, which seeks to demonstrate that it is holding institutions accountable for the financial crisis...more