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The vendetta against S&P, part II
WASHINGTON -- My last column on the federal suit against the bond-rating rating agency Standard & Poor's drew some critical reactions that are worth sharing with readers. In the column, I argued that S&P, which badly erred in rating bonds tied to home...
Tags: Finance, Financial Markets, Mortgages, Ratings, Securities
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The vendetta against S&P
WASHINGTON -- The Obama administration's suit against the rating agency Standard & Poor's makes for riveting headlines and lousy history. We want to blame the financial crisis and Great Recession on greed and dishonesty. The charge that S&P rigged bond...
Tags: Finance, Mortgages, Crime, Law and Justice, Ben Bernanke, Banking
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Business Briefs - Feb. 10
Franklin Financial Services Corp. CHAMBERSBURG, Pa. — The board of directors of Franklin Financial Services Corp. declared a $0.17 per share regular quarterly dividend for the first quarter of 2013. The first-quarter 2013 cash dividend remains...Tags: Finance, Personal Service, Hagerstown (Washington, Maryland), Ford, Manitowoc Company Incorporated
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Is S&P to blame?
Federal and state prosecutors sued the credit rating agency Standard & Poor's this week for allegedly defrauding investors by giving inflated ratings to complex mortgage-backed securities that proved all but worthless after the housing bubble burst. The...
Tags: Finance, Mortgages, Crime, Law and Justice, Occupy Wall Street, Kamala D. Harris
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California accuses S&P of deception in $4-billion lawsuit
California has filed suit against Wall Street's biggest credit rating agency, Standard & Poor’s, charging the firm with violating the state's False Claims Act by using “magic numbers” and “guesses” to inflate ratings that...
Tags: Finance, Litigation, Mortgages, Crime, Law and Justice, Interior Policy
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US sues S&P over pre-crisis mortgage ratings
WASHINGTON (AP) — The U.S. government is accusing the debt rating agency Standard & Poor's of fraud for giving high ratings to risky mortgage bonds that helped bring about the financial crisis. The government filed a civil complaint late Monday...
Tags: Finance, Mortgages, Crime, Law and Justice, Interior Policy, The McGraw-Hill Companies Incorporated
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Justice Department, state officials to announce Standard & Poor's suit
WASHINGTON -- Justice Department officials and attorneys general from California and several other states were set Tuesday morning to announce a landmark civil suit against Standard & Poor's Corp. concerning the company's credit ratings of troubled...
Tags: Finance, Mortgages, Lawyers, Crime, Law and Justice, BP Plc
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S&P helped cause financial crisis with faulty ratings, Feds allege
WASHINGTON -- Standard & Poor's Corp. helped cause the financial crisis by misleading investors with falsely high credit ratings on bonds backed by toxic subprime mortgages, federal officials alleged Tuesday in announcing a civil suit against the company....
Tags: Finance, Mortgages, Crime, Law and Justice, Automotive Equipment, Kamala D. Harris
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U.S. suit against S&P: Bad for business, bad for democracy
The Justice Department is accusing Standard & Poor's of defrauding investors with optimistic ratings of mortgage-backed securities and derivatives prior to the financial crisis. While investors are entitled to answers about those conflicts, compensation...Tags: Litigation, Finance, Barack Obama, Lawyers, Mortgages
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Banks could face broader loan limits
A legislative committee gave its endorsement today to expanding the method for calculating a state-chartered bank’s loan or credit limit in South Dakota. The goal is to cover the more-exotic transactions conducted by many banks throughout the...Tags: U.S. Congress, Loans, U.S. House of Representatives
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Pioneer in monetary markets, futures is struck, killed by car in Calif.
A prominent Chicago business leader who founded one of the nation’s largest discount futures brokerages has died. Barry Lind, of Winnetka, died in a California emergency room early this morning after he was struck by a car in Rancho Mirage...
Tags: Alan Young, Motorvehicle Accidents, Chicago Restaurants, Transportation Accidents
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Fed's easy money will eventually trigger inflation
Bar the door, Nelly — the Fed has abandoned all restraint and will now print money to finance the federal deficit. To support the weak recovery, the Federal Reserve continues to keep short-term interest rates near zero, purchase mortgage-backed...Tags: Finance, Mortgages, Japan, Ben Bernanke, Banking
Feb 12, 2013
|Column| Orlando Sentinel
Feb 11, 2013
|Column| Orlando Sentinel
Feb 10, 2013
|Story| Herald Mail
Feb 6, 2013
|Story| Los Angeles Times
Feb 5, 2013
|Story| Los Angeles Times
Feb 5, 2013
|Story| Petoskey News
Feb 5, 2013
|Story| Los Angeles Times
Feb 5, 2013
|Story| Los Angeles Times
Feb 5, 2013
|Story| Baltimore Sun
Jan 16, 2013
|Story| Aberdeen News
Jan 24, 2013
|Story| Chicago Tribune
Dec 13, 2012
|Story| Baltimore Sun
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