Share “News Summary: S&P sees US suit on mortgage...”

News Summary: S&P sees US suit on mortgage ratings

Published on NewsOK Modified: February 4, 2013 at 7:09 pm •  Published: February 4, 2013

US CHARGES SEEN AGAINST S&P: The U.S. government is expected to file civil charges against Standard & Poor's Ratings Services, alleging that it improperly gave high ratings to mortgage debt that later plunged in value and helped fuel the 2008 financial crisis.

WOULD BE A FIRST: The charges would mark the first enforcement action the federal government has taken against a major rating agency involving the worst financial crisis since the Great Depression.

S&P DENIES WRONGDOING: S&P says the Justice Department has told the rating agency that it intends to file a civil lawsuit focusing on S&P's ratings of mortgage debt in 2007. S&P denies any wrongdoing and says any lawsuit would be without merit.


  1. 1
    New $5 service will cancel your Comcast in 5 minutes
  2. 2
    Montreal's raw sewage to be dumped into St. Lawrence River as planned
  3. 3
    Debris Field Found in Search for Missing US Cargo Ship
  4. 4
    The impressive footage from the BBC of a volcano erupting is not what it seems
  5. 5
    Bernanke: More execs should have faced prosecution for 2008 crisis
+ show more


× Trending business Article