Why Exactly Is The Obama Administration Suing the Standard & Poors for $5 Billion?

I’m sure everyone has heard about the ludicrous lawsuit brought upon by the Obama administration. The government is suing the S&P over its rating of CDOs and mortgage-backed securities, alleging that the fault ratings helped contribute to the worldwide financial crisis.  The government is seeking close to $5 billion from McGraw Hill, a little less than one-third of the company’s market cap.  Seems like a desperate measure for the government, who we all know is in such financial mess that they would look for any scapegoat or way collect more funds that they can waste. Below is a funny political cartoon pointing fun at this situation, enjoy!

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