Subject: U.S. to sue S&P [Print This Page] Author: wow Time: 6-2-2013 09:31 Subject: U.S. to sue S&P
U.S. authorities intend to sue the international debt rating agency Standard & Poor's for over $ 5 billion in a civil complaint, accusing it of giving high ratings to risky mortgage bonds – something that may have contributed to bringing about the global financial crisis of 2008-2009.
S&P said in a statement Monday in anticipation of the suit that “it would be entirely without factual or legal merit.”
S&P expressed regret that the assigned ratings at the time did not fully comply with the rapidly deteriorating situation on the U.S. mortgage market.
A number of individual claims within the case have been put together by prosecutors in nine states.
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