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Featured Story
This Rating Agency Feels the Heat - and It's About Time
In February 2013, the U.S. Department of Justice slapped Standard & Poor's with a $5 billion civil suit.
The lawsuit charges the world's largest rating agency with egregiously rating residential mortgage-backed securities and related structured products it knew were garbage as AAA. And believe it or not, a lot of people bought it.
In February 2013, the U.S. Department of Justice slapped Standard & Poor's with a $5 billion civil suit.
The lawsuit charges the world's largest rating agency with egregiously rating residential mortgage-backed securities and related structured products it knew were garbage as AAA. And believe it or not, a lot of people bought it.