Blumenthal’s new actions expand his existing antitrust investigation of the three rating agencies. He sued the firms last July, alleging they gave artificially low credit ratings to cities and towns that ultimately cost taxpayers millions of dollars in unnecessary insurance and higher interest payments.
The three firms have denied those allegations and said the lawsuit is without merit.
I bet there is some much conflict of interest between the rating agencies, Wall Street execs, major insurers that rely on these ratings, the Fed. govt. etc. Your money is not safe on Wall St. The little guy will never make it on their own with all these sharks in the infested waters of the investments field.
It doesn’t matter to the Obama administration if a company has been ethical or unethical naughty or nice, its Christmas everyday of the week bought and paid for on credit of the American taxpayers for this year and many, many, many years to come. Obama and his friends are spending money like there is no tomorrow.It seems like there is a big party in Wshington with no thought for tomorrow.Please don’t tell us this is because of Bush. This is Obama’s party with guest of honors Polosi, Reed, Frank and Dodd.Lest I forget Geitner who seems to have forgot their is a constitution.
So let me get this straight, the firms who sit in judgement of individuals and organizations to determine their credit-worthiness, need a bailout to avoid going bankrupt. Am I the only one who sees the irony?
I love the smell of Federal bailouts in the morning, it smells like victory, (for the crooked politicians and the votes they’re buying with the taxpayor’s money).
We keep electing Democrats & Repulicans
and we’re suprised that it keeps getting worse.
This is all Democrats now. Obama, the Senate and the House, all their ball game now. Can’t blame it on anyone else. If liberals had any credibility at all they would be screaming loud, but they don’t.
Please don’t be sucked in to the liberal vs conservative/ Republican vs Democrat debate. It’s diversionary. Politicians love the fact that “we the people” are sufficiently distracted by those arguements to the point that we’ve lost sight of the fact that both parties are stealing our money and taking away our freedoms while we argue amongst ourselves about why our party is good and the other is the sole evil. The fact is that in order for America to survive as a free country, we have got to remove the cancer that is the Republican-Democrat political
monopoly. We need to require honesty, and a respect for the constitution in our political leaders.
I agree Tommy but someone has to call these people on this stuff. You are right both parties are corrupt but where the conservatives will admit it, the liberals never will.
Just curious..where have conservatives EVER admitted to being corrupt? Oh right they haven’t. As Tommy said, the democrat vs republican game is simply a diversionary tactic to keep your eye off the ball as both parties (which are in fact the same party) steals our money.
The rating organizations are going to need this money when the lawyers go after the foxes in charge of the chickens. Does anyone remember “Arthur Andersen”?
Oh Dave. You misunderstood. I agree with you and Tommy. All I am saying is conservatives like me ADMIT the republicans are corrupt but a liberal will never ever ADMIT the democrats are corrupt. Get it now?
When are we going to learn? When are we as citizens of this once great country going to stand-up to these ignorant politicians who do nothing but pander for votes and throw their a$$es out of Washington. When? I am so disappointed in this country right now I don’t know what to think anymore.
Republicans are not Conservatives. Please just the thought of that is a joke. Republicans are lighter liberals. Conservatives are hard to find and basically exist no where in the media or political realm.
She detailed these events pretty clearly (hope that isn’t to cliche).
I didn’t even know $ when to the idiot credit rating folks too! How are they vital to our economy?
I’m with shocked.
We should send that crazy, mauling monkey to Wall Street/White House!
I don’t understand why the credit agencies need bailing out? What toxic assets did they own? Is it to defend and pay all of the lawsuits which will be coming to them because they didn’t do their job?
Glen Beck is putting together something called the 9-12 project, and tea parties expressing alot of the same outrages expressed here.
Dave Ramsey is also leading a call for term limits. Check their websites for info.
I agree most all, Repub or Dem, are only acting for their own self-interest.
We have tradeed liberty for prosperity and now the prosperity seems to be coming to an end so we will have neither in the future. We were bought for very few dollars. The Founding Fathers would not like the nation we have become.
I agree, the core of the problem is the government itself, we need to revamp our system, make it less lucrative to be in political office, quit treating these people like royalty and let the people vote on any pay increases or benefit improvements for congress. Without all the perks, the system might attract some intelligent, moral candidates, who see a possibility of improving public good.
We are supposed to be a system of checks and balances, seems that is no longer true. As far as which party is better or worse, they are the same, they just have different contributors. It is the system, it feeds on itself.
Not quite 90 days in office. Is this the change we can believe in? Queen Polosi, King Reed, Geitner who has forgotten we have a constitution, and lest we forget MR Change himself, yes Mr. Hollywood President Obama.
Well said, Trish. Agent for Arizona, I am with you.
I did not vote for Obama and find it amazing that so many that did, are giving him a failing grade now. Just goes to show, most all politicians are full of you know what.
Blumenthal’s new actions expand his existing antitrust investigation of the three rating agencies. He sued the firms last July, alleging they gave artificially low credit ratings to cities and towns that ultimately cost taxpayers millions of dollars in unnecessary insurance and higher interest payments.
The three firms have denied those allegations and said the lawsuit is without merit.
I bet there is some much conflict of interest between the rating agencies, Wall Street execs, major insurers that rely on these ratings, the Fed. govt. etc. Your money is not safe on Wall St. The little guy will never make it on their own with all these sharks in the infested waters of the investments field.
another consideration is their job perfomance. Lehman Bros had an A rating just before they collapsed — – –
thanks to these rating agencies.
It doesn’t matter to the Obama administration if a company has been ethical or unethical naughty or nice, its Christmas everyday of the week bought and paid for on credit of the American taxpayers for this year and many, many, many years to come. Obama and his friends are spending money like there is no tomorrow.It seems like there is a big party in Wshington with no thought for tomorrow.Please don’t tell us this is because of Bush. This is Obama’s party with guest of honors Polosi, Reed, Frank and Dodd.Lest I forget Geitner who seems to have forgot their is a constitution.
So let me get this straight, the firms who sit in judgement of individuals and organizations to determine their credit-worthiness, need a bailout to avoid going bankrupt. Am I the only one who sees the irony?
I love the smell of Federal bailouts in the morning, it smells like victory, (for the crooked politicians and the votes they’re buying with the taxpayor’s money).
We keep electing Democrats & Repulicans
and we’re suprised that it keeps getting worse.
This is all Democrats now. Obama, the Senate and the House, all their ball game now. Can’t blame it on anyone else. If liberals had any credibility at all they would be screaming loud, but they don’t.
Please don’t be sucked in to the liberal vs conservative/ Republican vs Democrat debate. It’s diversionary. Politicians love the fact that “we the people” are sufficiently distracted by those arguements to the point that we’ve lost sight of the fact that both parties are stealing our money and taking away our freedoms while we argue amongst ourselves about why our party is good and the other is the sole evil. The fact is that in order for America to survive as a free country, we have got to remove the cancer that is the Republican-Democrat political
monopoly. We need to require honesty, and a respect for the constitution in our political leaders.
I agree Tommy but someone has to call these people on this stuff. You are right both parties are corrupt but where the conservatives will admit it, the liberals never will.
Just curious..where have conservatives EVER admitted to being corrupt? Oh right they haven’t. As Tommy said, the democrat vs republican game is simply a diversionary tactic to keep your eye off the ball as both parties (which are in fact the same party) steals our money.
The rating organizations are going to need this money when the lawyers go after the foxes in charge of the chickens. Does anyone remember “Arthur Andersen”?
I am shocked and shagrinned. Stupified and mortified!
Who put the bailout on it?
I didn’t tell you to put the bailout on it.
You people with the bailouts…it never ends!
Oh Dave. You misunderstood. I agree with you and Tommy. All I am saying is conservatives like me ADMIT the republicans are corrupt but a liberal will never ever ADMIT the democrats are corrupt. Get it now?
When are we going to learn? When are we as citizens of this once great country going to stand-up to these ignorant politicians who do nothing but pander for votes and throw their a$$es out of Washington. When? I am so disappointed in this country right now I don’t know what to think anymore.
Republicans are not Conservatives. Please just the thought of that is a joke. Republicans are lighter liberals. Conservatives are hard to find and basically exist no where in the media or political realm.
She detailed these events pretty clearly (hope that isn’t to cliche).
I didn’t even know $ when to the idiot credit rating folks too! How are they vital to our economy?
I’m with shocked.
We should send that crazy, mauling monkey to Wall Street/White House!
I don’t understand why the credit agencies need bailing out? What toxic assets did they own? Is it to defend and pay all of the lawsuits which will be coming to them because they didn’t do their job?
Glen Beck is putting together something called the 9-12 project, and tea parties expressing alot of the same outrages expressed here.
Dave Ramsey is also leading a call for term limits. Check their websites for info.
I agree most all, Repub or Dem, are only acting for their own self-interest.
We have tradeed liberty for prosperity and now the prosperity seems to be coming to an end so we will have neither in the future. We were bought for very few dollars. The Founding Fathers would not like the nation we have become.
I agree, the core of the problem is the government itself, we need to revamp our system, make it less lucrative to be in political office, quit treating these people like royalty and let the people vote on any pay increases or benefit improvements for congress. Without all the perks, the system might attract some intelligent, moral candidates, who see a possibility of improving public good.
We are supposed to be a system of checks and balances, seems that is no longer true. As far as which party is better or worse, they are the same, they just have different contributors. It is the system, it feeds on itself.
Not quite 90 days in office. Is this the change we can believe in? Queen Polosi, King Reed, Geitner who has forgotten we have a constitution, and lest we forget MR Change himself, yes Mr. Hollywood President Obama.
AMEN, AMEN, TOMMY. IF YOU KEEP DOING THE SAME THING OVER & OVER YOU ARE GOING TO GET SAME RESULTS.
Well said, Trish. Agent for Arizona, I am with you.
I did not vote for Obama and find it amazing that so many that did, are giving him a failing grade now. Just goes to show, most all politicians are full of you know what.
“We are supposed to be a system of checks and balances, seems that is no longer true.”
Oh it’s true alright. We keep writing checks, and our balances keep getting smaller.