When Standard & Poor's downgraded America's credit rating, questions were raised about the agency's role in failing to blow the whistle on sub-prime mortgages. Now the Justice Department has launched an investigation of America's largest credit rating agency. At the same time, local governments are taking another look at whether S&P is serving their needs. Louise Story, who broke the news last night in the New York Times, has more on the investigation and on the ripple effect of the federal downgrade.
KCRW
