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U.S. sues S&P ratings agency over housing-market collapse

Posted on 06 February 2013

The federal government has lodged a civil complaint against Standard & Poor’s, alleging the ratings agency of driving the mortgage crisis by giving high marks to risky bonds. This is the first action related to the housing crisis taken by the government against a major ratings agency, the Associated Press reported.
S&P said that it didn’t do anything wrong — and that the government itself failed to predict the housing-market collapse. The government’s suit, however, says S&P knowingly and willfully enticed investors to mortgage bonds with shaky numbers, AP reports. ……………………………………….Full Article: Source


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