U.S. probes S&P mortgage ratings | HeraldTribune.com

This shows how a company like Standard and Poor's will go to any length to cover up the corrupt acts they executed that led to the world-wide financial meltdown of 2008.

In the mortgage inquiry, the Justice Department has been asking about instances in which the company's analysts wanted to award lower ratings on mortgage bonds but may have been overruled by other S.& P. business managers, according to the people with knowledge of the interviews.

Under normal circumstances, the Justice Department only initiates a "probe" when it has already obtained evidence to support its action. I believe a "whistle-blower" has already come forward.

The Securities and Exchange Commission has also been investigating possible wrongdoing at S.& P., according to a person interviewed on that matter, and may be looking at the other two major agencies, Moody's and Fitch Ratings.

It has been widely argued, since the immediate fallout from the 2008 financial crisis, that the problem began with the ratings agencies. This is not NEW news.