[Rod_Cloutier]

I saw this news story today, about how Portugal is about to bring charges against all three debt rating agencies, with allegations of collusion among other things. Its three years late, but its about time criminal charges are brought to those who contributed to the 2008 financial crisis:

http://www.washingtonpost.com/business/ ... story.html

Portuguese authorities have opened a criminal inquiry into three international credit rating agencies following a complaint, the Attorney General’s office said Monday.
...
The U.S. Congress also has examined the role played by rating agencies in the 2008 financial crisis when they were discredited for giving high ratings to risky securities tied to subprime mortgages. In March, the U.S. Securities and Exchange Commission recommended that the influence of the big three rating agencies be reduced.

[Pops]

IIn March, the U.S. Securities and Exchange Commission recommended that the influence of the big three rating agencies be reduced.

[/quote]
Wasn't that at about the same time one threatened to downgrade the US?

I find it hard to believe anyone takes any of these people seriously anymore.