Subscribe Register Login

Tuesday, September 02, 2014, 8:25 p.m.
Top Picks - Mobile App

U.S. sues S&P over pre-crisis mortgage ratings

By The Associated Press

This article was published February 5, 2013 at 11:06 a.m.

this-oct-9-2011-file-photo-shows-55-water-st-home-of-standard-poors-in-new-york

This Oct. 9, 2011, file photo shows 55 Water St., home of Standard & Poor's, in New York.

— The U.S. government late Monday accused debt rating agency Standard & Poor’s of fraud for giving high ratings to risky mortgage bonds that helped bring about the financial crisis.

The civil suit, filed in Los Angeles federal court, is the first enforcement action the government has taken against a major rating agency related to the financial crisis.

S&P, a unit of New York-based McGraw-Hill Cos., has denied wrongdoing. It says the government also failed to predict the subprime mortgage crisis.

Read tomorrow's Arkansas Democrat-Gazette for full details.

Comments on: U.S. sues S&P over pre-crisis mortgage ratings

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Technology director

    Academics Plus Charter School is seeking a Director Of Techn...
    MAUMELLE, AR

  • Systems admin.

    University of Arkansas at Little RockSystems Administrator T...
    LITTLE ROCK, AR

  • Education

    pulaski technical college in North Little Rock, Arkansas, th...
    LITTLE ROCK, AR

  • Ndt engineer

    Welspun Pipes, IncPosition: Responsibilities: Perform/overse...
    LITTLE ROCK, AR

  • Drivers needed

    drivers needed 5 years OTR verifiable experience. Drug test ...
    NORTH LITTLE ROCK, AR

Search 912 jobs >

Top Picks - Mobile App
Arkansas Online