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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: Washington, DC, Crime, Law and Justice, Financial and Business Services, Laws, Mortgages
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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: U.S. Department of Justice, Crime, Law and Justice, Freedom of the Press, Financial and Business Services, Government Debt
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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: Kamala D. Harris, Manufacturing and Engineering, U.S. Department of Justice, Automotive Equipment, Crime, Law and Justice
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Edison manipulated costs at San Onofre, complaint alleges
L.A. NOWAn advocacy group filed a complaint Wednesday with the California Public Utilities Commission alleging that Southern California Edison manipulated inflation calculations to recover more money from ratepayers for defective replacement steam generators at... -
Sullivan named Legg Mason CEO and president
Legg Mason Inc. chose an insider as its new CEO, quelling speculation that the Baltimore-based money manager might be headed for a breakup that could have been bad news for the city. After a worldwide search for a new leader, Legg announced Wednesday...
Tags: Shareholders, Morningstar Incorporated, Companies and Corporations, Elections, University of Pennsylvania
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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: Moody's Corporation, Citigroup Incorporated, Credit Ratings, Derivative Securities, Financial and Business Services
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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: U.S. Department of Justice, Ben Bernanke, Crime, Law and Justice, Washington, DC, Investment Service
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MF Global Settlement, recovery of 93 percent of missing money
Washington, DC - Senator Debbie Stabenow, Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, issued the following statement on the settlement deal approved by a bankruptcy court judge that paves the way for customers of the...Tags: Bankruptcy, MF Global, Washington, DC, Financial Markets, U.S. Senate Committee on Agriculture, Nutrition and Forestry
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Northern Crops Institute announces 2013 short course schedule
Pasta Production and Technology April 16-18, 2013 Fee: $900 This course provides fundamental and applied aspects of manufacturing extruded and sheeted pasta products. Raw material quality criteria, specifications, and processing variables and...Tags: Marketing, Swimming, Pasta, Short Course Swimming, Lifestyle and Leisure
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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: Kamala D. Harris, Occupy Wall Street, Crime, Law and Justice, Financial and Business Services, Mortgages
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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: Kamala D. Harris, U.S. Department of Justice, BP Plc, Pension and Welfare, Crime, Law and Justice
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Morgan Stanley's Farcical Facebook Settlement
Massachusetts Secretary of the Commonwealth William Galvin this week accused Morgan Stanley of breaking the law as lead underwriter in Facebook Inc.’s initial public offering, triggering a $5 million fine. What had Morgan Stanley done wrong? The...
Tags: U.S. Securities and Exchange Commission, Facebook, Companies and Corporations, Initial Public Offerings, Crime, Law and Justice
Feb 5, 2013
|Story| Petoskey News
Feb 5, 2013
|Story| Baltimore Sun
Feb 5, 2013
|Story| Los Angeles Times
Feb 13, 2013
| Los Angeles Times
Feb 13, 2013
|Story| Baltimore Sun
Feb 12, 2013
|Column| Orlando Sentinel
Feb 11, 2013
|Column| Orlando Sentinel
Feb 8, 2013
|Story| Aberdeen News
Feb 8, 2013
|Story| Aberdeen News
Feb 6, 2013
|Story| Los Angeles Times
Feb 5, 2013
|Story| Los Angeles Times
Dec 21, 2012
|Column| Allentown Morning Call
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