Federal Government Suing Standard & Poors
By: WROC-TV
Updated: February 5, 2013
The U.S. government plans to file a civil lawsuit against the ratings agency Standard & Poors.
The suit accuses the firm of giving high ratings to risky mortgage bonds that later plunged in value and led to the 2008 financial crisis. It would mark the federal government's first legal action against a major rating agency over the mortgage debacle. S&P denies any wrongdoing and says the lawsuit is without merit.
The suit accuses the firm of giving high ratings to risky mortgage bonds that later plunged in value and led to the 2008 financial crisis. It would mark the federal government's first legal action against a major rating agency over the mortgage debacle. S&P denies any wrongdoing and says the lawsuit is without merit.
