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Judge gives S&P boost in federal lawsuit

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Mortgage Professional America | 18 Apr 2014, 12:02 AM Agree 0
A federal judge has given Standard & Poor's a weapon in its fight against a $5 billion DOJ lawsuit
  • PacFore | | 18 Apr 2014, 09:19 AM Agree 0
    it's true, S & P saw money and felt greed and made their ratings accordingly. Guilty as accused!
  • Hedge | | 19 Apr 2014, 05:45 AM Agree 0
    The ratings agencies gave cover and legitimacy to the sale of junk mortgages all around the world. If they had actually done their job, the crises would have been far less severe. Proper ratings would have dried up much of the funding much earlier and kept a better balance in the market. These companies have never been held accountable for their major contribution to the crisis.
  • KB | | 21 Apr 2014, 06:20 AM Agree 0
    There's 1 of 2 conclusions:

    1) The S&P did inflate ratings because those mortgages were crap
    2) The S&P has no concrete data for its ratings and therefor is a worthless and incompetent agency, because again, those mortgages were crap.
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