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Is Justice Department trying to keep up US Credit Rating by intimidating Rating Agencies?
Of all the rating agencies that overrated mortgage bonds in the mid 2000s, the Justice Department has singled out Standard and Poors for a court case, Standard and Poors being the only agency, so far, that has downgraded the U.S. government credit rating. Peter Morici (Fed's decision to single out Standard & Poors should raise concern) writes:
Supposedly, in order to protect the integrity of bond ratings, the Justice Department appears to be trying to intimidate the bond ratings agencies against acting with integrity regarding the U.S. bond rating.
Journal of Economic Literature:
Atlantic Economic Journal: