US credit rating manipulated

Remember back in 2011, when the US credit rating was downgraded? Did you also know that the US Congress used its investigative and legislative powers to harass the rating company who did it?

On August 5, 2011, representatives from S&P announced the company's decision to give its first-ever downgrade to U.S. sovereign debt, lowering the rating one notch to "AA+", with a negative outlook. The government was furious. Two weeks after the August, 2011 S&P downgrade, SEC and Department of Justice announced that S&P was under investigation, and the CEO of S&P was forced to resign just 18 days later.

Three years later, filed a $5 Billion lawsuit against the company.

You can bet that no ratings agency will ever do that again.