Basically, The Justice Department sued Standard & Poor's Ratings Services late Monday, alleging the firm ignored its own standards to rate mortgage bonds that imploded in the financial crisis and cost investors billions.
There are a lot of politically motivated reasons for doing this. But, there are some sound ones, too. I am not sure if I agree or disagree. We did default. I couldn't walk into a bank and state I didn't pay my credit card because my mortgage was to high and it was someone else's fault. The bank would laugh at me and state that it is too bad and still my problem.
As a business owner, who does business with the federal government, this article does make me nervous. I am really interested to hear what other business owners think about it. Share your opinions with me or follow me on Twitter.