05-02-2013, 10:41 AM
IMO, it is S&P fair share of the blame, rather than banks take all.
S&P expects Washington lawsuit over its mortgage ratings
WASHINGTON — The United States 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.
The charges would mark the first enforcement action the government has taken against a major rating agency involving the worst financial crisis since the Great Depression.
http://www.todayonline.com/business/sp-e...ge-ratings
S&P expects Washington lawsuit over its mortgage ratings
WASHINGTON — The United States 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.
The charges would mark the first enforcement action the government has taken against a major rating agency involving the worst financial crisis since the Great Depression.
http://www.todayonline.com/business/sp-e...ge-ratings