Daily Headline – 05/02/13

US; Standard & Poor

US S&P flagStandard & Poor’s (the credit rating agency not the US) are to be sued by the US government over their 2007 assessment of mortgage bonds.

The US says that it was due to this assessment that their banks lent money to people with bad credit history to buy houses.

S&P responded stating that (the case and argument) is completely without factual merit.

It seems the US is looking for people to blame for causing the global economic crisis, the problem can be anything it seems except the capitalist system itself.

Too many unregulated or minimally regulated components of industry allowed to do as they please without any regard to the consequences of their actions.

For more on this story click here.

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