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    Feb 5, 2013 |Story| Petoskey News
  1. 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.
    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

  2. Feb 5, 2013 |Story| Baltimore Sun
  3. 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

  4. Feb 5, 2013 |Story| Los Angeles Times
  5. 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.
    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

  6. Feb 13, 2013 | Los Angeles Times
  7. Edison manipulated costs at San Onofre, complaint alleges

    L.A. NOW
    An 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...
  8. Feb 13, 2013 |Story| Baltimore Sun
  9. 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.
    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

  10. Feb 12, 2013 |Column| Orlando Sentinel
  11. 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 mortgages, was being made a scapegoat for the financial crisis. As is well-known, this crisis -- with some exceptions -- was not foreseen by government officials, economists or bankers. S&P's sins, I wrote, stemmed more from this over-optimism than from a deliberate effort to mislead markets.
    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

  12. Feb 11, 2013 |Column| Orlando Sentinel
  13. 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 ratings for its own gain -- providing artificially high ratings on the mortgage-backed securities that inflated the credit bubble -- fits this self-serving morality tale. The discomforting reality is that the financial collapse resulted from an extended period of prosperity, which led to weakened credit standards and inspired wishful thinking about the permanence of economic growth.
    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

  14. Feb 8, 2013 |Story| Aberdeen News
  15. 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

  16. Feb 8, 2013 |Story| Aberdeen News
  17. 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

  18. Feb 6, 2013 |Story| Los Angeles Times
  19. 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 cases raise difficult questions about the freedom to express an opinion without being held liable if it's wrong. Nevertheless, it's worth exploring whether S&P and its rivals deliberately soft-pedaled how risky those securities were in order to boost their bottom lines.
    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

  20. Feb 5, 2013 |Story| Los Angeles Times
  21. 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 ultimately cost California public pension funds an estimated $1 billion.
    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

  22. Dec 21, 2012 |Column| Allentown Morning Call
  23. 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.
    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

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