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S&P helped cause financial crisis with faulty ratings, Feds allege

Eric Holder

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.

 

DealBook: U.S. and States Prepare to Sue S.&P. Over Mortgage Ratings

Standard & Poor's

The Justice Department and state prosecutors plan to file civil charges against Standard & Poor’s Ratings Service, accusing the firm of fraudulently rating mortgage bonds that led to the financial crisis, people briefed on the plan said.

 

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