U.S., States Plan to File Civil Charges Against S&P
The Justice Department and state prosecutors intend to file civil charges alleging wrongdoing by Standard & Poor’s Ratings Services in its rating of mortgage bonds before the financial crisis erupted in 2008, according to people familiar with the matter.
The allegations likely would be made in lawsuits by federal and state officials that are expected to be filed as soon as this week, the people said. The alleged wrongdoing by S&P, a unit of McGraw-Hill Cos., MHP -13.78% centers on allegations related to the model used by S&P to rate mortgage bonds.
The likely move by U.S. officials would be the first federal enforcement action against a credit-rating firm for alleged illegal behavior related to the crisis. Several state attorneys general are expected to join the case, making it one of the highest-profile and widest-ranging enforcement crisis-era crackdowns.
The expected civil charges against S&P follow the breakdown of long-running settlement talks between the Justice Department and S&P, the people said.
Standard & Poor’s dismissed the potential Justice Department lawsuit as “entirely without factual or legal merit.”
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You are ALL correct in your posts. However, we (the people) are no better for we know the truth and what is going on and we do…….NOTHING! The gov’t is taking away our liberties and our freedoms while the banksters take our safe haven of homes and we do…..NOTHING! Now, they are trying to take away our right to bear arms imprisoning us even further and taking down a road of endless debt as slaves. The ‘drones’ to divert their plans and wipe out those who protest. Will your sons, daughters, etc. who serve in the ‘armed’ forces turn their cheek to kill their own fellow man? And who is in command of those armed forces? I fear for the safety of this country (aka citizens) as more and more takeover is eminent and WHO will protect you?
Civil..not criminal??? Will someone please tell me why we have prison’s filled with people doing and charged with less crimes? Does this government not see that this country and the world know the corruption and crimes committed …they have fooled no one…all this is a stall tactic…as far as I believe…all the settlements are a farce…a false show…they are going completely around the main issues that concern the people…the foreclosures and the original fraud…and by the way…the Federal Reserve is in default …an audit of the U S Treasury and the Fed. Reserve will prove it…They owe the U S Taxpayers….we owe nothing…It seems they are playing musical chairs..the last one standing gets investigated and ‘ charged ‘…and maybe fined…who the hell is getting all this money of these so called settlements???….Who’s deep pockets??? I have not heard of one person who has gotten any part of any settlement…..
Here we go again with civil Bull—– Where is the Criminal Charges????
The American people can wipe their ass with Civil….
Yes, continue to commit crimes only have to pay money!