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Burning Down the House of S. & P.


Business  (tags: law, government, foreclosures, ethics, dishonesty, consumers, corporate, corruption, business, economy, finance, politics )

Carrie
- 540 days ago - newyorker.com
One of the most surprising aspects of the Justice Department's five-billion-dollar lawsuit against Standard & Poor's, which the D.O.J. accuses of defrauding investors by issuing ratings on subprime mortgage securities that it knew to be misleading, ...



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Comments

Angelika R. (146)
Wednesday February 6, 2013, 2:34 pm
wow, that reveals a lot! And who knows if Moody's & Fitch may not be the next ones to be sued... they ALL have dirty hands, for sure. The public should see the witnesses!
We've had a debate here that Europe should have it's OWN Rating agencies and stop being screwed around by those above. That day will come.
 

Diane K. (136)
Wednesday February 6, 2013, 4:50 pm
It's sad to hear this big company was too big for it's own britches!
 

Kit B. (277)
Wednesday February 6, 2013, 5:11 pm

I read about this recently, once more time at too big to jail. From the CEO's to middle management these people know what they were doing, who they were hurting and just kept on rolling the dice. Good article from The New Yorker Magazine.
 

Carrie B. (305)
Wednesday February 6, 2013, 5:20 pm
Talk about thumbing their noses at us ~ this really takes the cake!
 

JL A. (272)
Wednesday February 6, 2013, 8:33 pm
Poetic justice?
 

Gloria picchetti (287)
Wednesday February 6, 2013, 9:02 pm
"S. & P. claimed all of its ratings were independent and made in good faith, based on sound reasoning. The government claims otherwise."
 

Alexandra Rodda (176)
Thursday February 7, 2013, 3:33 am
Hope the government wins.
 

Carol H. (229)
Thursday February 7, 2013, 5:44 am
noted, thanks Carrie
 

Jason S. (57)
Thursday February 7, 2013, 2:53 pm
Good posting, thanks
 
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