Justice Department investigating Standard & Poor# Stock
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WASHINGTON (AP) — The New York Times reports that the Justice Department is
investigating whether the Standard & Poor's credit ratings agency
improperly rated dozens of mortgage securities in the years leading up to
the financial crisis.
A story on the newspaper's website late Wednesday cites two people
interviewed by the government and another briefed on such interviews as its
sources.
The newspaper says the investigation began before Standard & Poor's cut the
United States' AAA credit rating this month, but says it's likely to add to
the political firestorm created by the downgrade.
According to people with knowledge of the interviews, the Justice Department
has been asking about instances in which the company's analysts wanted to
award lower ratings on mortgage bonds but may have been overruled by other S
&P business managers.
http://news.yahoo.com/report-government-probe-standard-poors-03
investigating whether the Standard & Poor's credit ratings agency
improperly rated dozens of mortgage securities in the years leading up to
the financial crisis.
A story on the newspaper's website late Wednesday cites two people
interviewed by the government and another briefed on such interviews as its
sources.
The newspaper says the investigation began before Standard & Poor's cut the
United States' AAA credit rating this month, but says it's likely to add to
the political firestorm created by the downgrade.
According to people with knowledge of the interviews, the Justice Department
has been asking about instances in which the company's analysts wanted to
award lower ratings on mortgage bonds but may have been overruled by other S
&P business managers.
http://news.yahoo.com/report-government-probe-standard-poors-03
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