General Discussion

malaise

(269,094 posts) Mon Feb 4, 2013, 06:59 PM Feb 2013

Standard & Poor's expects lawsuit over subprime ratings

http://www.bbc.co.uk/news/21331018

Standard & Poor's says it is to be sued by the US government over the credit ratings agency's assessment of mortgage bonds before the financial crisis.

The civil lawsuit would focus on S&P's high ratings in 2007 for some mortgage-backed securities that later collapsed in value, said the agency.

S&P says the case is entirely without factual or legal merit.

The suit would be the first such case over alleged wrongdoing by a ratings agency tied to the financial crisis.

Good! About time!!

3 replies

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Standard & Poor's expects lawsuit over subprime ratings (Original Post) malaise Feb 2013 OP

long overdue Sherman A1 Feb 2013 #1

Your right! =) reagan soft Feb 2013 #2

Amazing how little has been said about this by MGreedia malaise Feb 2013 #3

Sherman A1

(38,958 posts)

1. long overdue

Reply to malaise (Original post)

Mon Feb 4, 2013, 07:02 PM

Feb 2013

far, far too long, but it's a start.

reagan soft

(2 posts)

2. Your right! =)

Reply to malaise (Original post)

Fri Feb 22, 2013, 02:44 AM

Feb 2013

McGraw-Hill says that it was open to a discussion settlement. I heard the news last week, the United States Department of Justice leveled civil charges towards Standard & Poor's on Feb. 7, saying it purposefully misconstrued mortgage-backed securities that later soured and led to the bursting of the housing bubble. Now, McGraw-Hill, the parent company of S&P, is fighting back, saying the DOJ case is flawed.

malaise

(269,094 posts)

3. Amazing how little has been said about this by MGreedia

Reply to reagan soft (Reply #2)

Fri Feb 22, 2013, 03:52 AM

Feb 2013

This is big news

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