U.S. and States Prepare to Sue S.&P. Over Mortgage RatingsQuicklink submitted by Sheila Samples Permalink
Become a Fan
|The Justice Department, along with state prosecutors, plans to file civil charges against Standard & Poor's Ratings Service, accusing the firm of fraudulently rating mortgage bonds that led to the financial crisis. Up until last week, the Justice Department had been in settlement talks with S.&P. But the negotiations broke down after the Justice Department said it would seek a settlement in excess of '10 figures,' or at least $1 billion, which would wipe out the profits of S.&P.'s parent, the McGraw-Hill Company, for an entire year.|
The time limit for entering new comments on this Quicklink has expired.
This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.