Standard & Poor's

Why is the Justice Department suing Standard & Poor's for mis-rating structured credit securities before the financial crisis, and not suing Moody's, which gave a lot of the same products the same ratings? I have a theory, but Standard & Poor's has another, and theirs is a corker:
McGraw Hill Financial Inc.’s Standard & Poor’s unit called the $5 billion fraud lawsuit filed against it by the federal government “retaliation” for the ratings company’s downgrade of U.S. creditworthiness.
The U.S.’s AA+ credit rating outlook was increased to stable from negative by Standard & Poor’s, based on receding fiscal risks, less than two years after stripping the world’s largest economy of its top ranking.
A couple of weeks ago, Standard & Poor's was sued by the U.S. government and a number of state governments for allegedly inflating credit ratings. Once again, Stephen Colbert brings his unique take on the S&P lawsuit.
Frustration with New York-based S&P, the nation’s largest ratings firm, Moody’s Corp. and Fitch Ratings has existed almost since the current administration took office.
The U.S. is seeking as much as $5 billion in penalties from McGraw-Hill Cos. and its Standard & Poor’s unit as punishment for inflated credit ratings that were central to the worst financial crisis since the Great Depression.
McGraw-Hill Cos. and its Standard & Poor’s unit were sued by the U.S. over claims S&P knowingly understated the credit risks of bonds and derivatives that were central to the worst financial crisis since the Great Depression.
The U.S. Justice Department intends to file a civil lawsuit against Standard & Poor’s based on ratings in 2007 of certain collateralized debt obligations, the company said today.
The global bond market disagreed with Moody’s Investors Service and Standard & Poor’s more often than not this year when the companies told investors that governments were becoming safer or more risky.
Standard & Poor’s Japan unit was ordered by the nation’s financial watchdog to improve its system for verifying and updating credit ratings in the regulator’s first action against a ratings company.