A Secret Service Whistleblower Dropped a Damning Account of Joe Biden at the...
Former Hamas Hostage: Things Changed Drastically Once Trump Won the 2024 Election
Elon Musk Cooked The New York Times in the Oval Office...and Trump's Reaction...
A Dem Senator Just Roasted Her Party Over Its Economic Messaging
The Collapse of the COVID Vaccine Project
Following the Backside in Front of Us
Trump’s Industrial Legacy: Steel, Sovereignty, and Strength
Trump’s Executive Order Confronts a Long History of Veteran Neglect
Sen. Paul Must Help to End Nuclear Subsidies
Democrats Truly Need NPR
Putin to Skip Peace Talks As Trump Pushes for Immediate End to War
Trump Doubles Steel Tariffs to 50%, Declares End to 'Shoddy Steel from Shanghai'
Here's What's Next for DOGE
Drunk Illegal Alien Who Killed Las Vegas Police Officer Was Three Times Over...
Democrat Rep. Gabe Vasquez Joins AOC in Renewed Push to Abolish ICE
OPINION

DOJ Probe of S&P - Payback for Downgrade?

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.

Something just doesn't seem right. It appears the Department of Justice has launched a probe of the nation's largest credit ratings firm, Standard & Poor's. As I told Martha MacCallum on Fox News, the timing of this development certainly raises a few questions.

Advertisement

Just two weeks ago, S&P expressed the ultimate concern about our economy by cutting the U.S. credit rating from a perfect AAA to AA+. First time that's happened in the nation's history. At the same time, two other ratings agencies, Fitch and Moody's, expressed concern as well about the country's economic problems, but did not issue a downgrade.

Now, there are detailed reports by news organizations that the Justice Department is probing S&P. The DOJ won't comment, of course. But the only credit ratings agency in the government's legal crosshairs right now appears to be S&P.

Why now? Why not in 2008? That's when the mortgage crisis really began and fueled what many believe created what we have today - an economic house-of-cards that is on the verge of collapse.

As a former tax attorney who once worked for the Treasury Department, I certainly understand the argument advanced by many that all of the ratings agencies should have been under scrutiny three years ago when this mortgage mess began to unfold.

Advertisement

Granted, we don't know what's taking place behind the scenes, and with the DOJ not talking, we're left with just appearances. But, I'm not sure I like what I see. The timing of all of this seems suspect to me.

Do we have a politically-motivated Department of Justice that's retaliating for S&P's decision to downgrade the U.S. credit rating? Or, do we have a responsible Justice Department that's just doing its job, maybe a little late, but acting without retribution?

Coincidence or payback? Stay tuned.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement