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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 11 February 2013 [View all]Demeter
(85,373 posts)15. NY attorney general probing three major rating firms
http://www.reuters.com/article/2013/02/08/nyattorneygeneral-creditratingprobe-idUSL4N0B816920130208
New York Attorney General Eric Schneiderman has kicked off an investigation into three major credit ratings agencies, according to a person familiar with the matter, a move that follows the U.S. Justice Department's $5 billion lawsuit against Standard & Poor's over pre-crisis mortgage bond ratings.
Schneiderman issued a subpoena to Standard & Poor's this week, a person familiar with the matter told Reuters. S&P is a unit of The McGraw Hill Cos. His office also sent formal requests for information to two other major credit rating agencies, Moody's and Fitch Ratings, the person said.
Schneiderman is seeking information related to the agencies' conduct in rating mortgage-backed securities and whether the companies abided by agreements in 2008 to make certain reforms, according to the person.
The 2008 agreements, signed by the three firms, settled an earlier probe by the New York attorney general's office of the firms' ratings of residential mortgage-backed securities leading up to the financial crisis....MORE
New York Attorney General Eric Schneiderman has kicked off an investigation into three major credit ratings agencies, according to a person familiar with the matter, a move that follows the U.S. Justice Department's $5 billion lawsuit against Standard & Poor's over pre-crisis mortgage bond ratings.
Schneiderman issued a subpoena to Standard & Poor's this week, a person familiar with the matter told Reuters. S&P is a unit of The McGraw Hill Cos. His office also sent formal requests for information to two other major credit rating agencies, Moody's and Fitch Ratings, the person said.
Schneiderman is seeking information related to the agencies' conduct in rating mortgage-backed securities and whether the companies abided by agreements in 2008 to make certain reforms, according to the person.
The 2008 agreements, signed by the three firms, settled an earlier probe by the New York attorney general's office of the firms' ratings of residential mortgage-backed securities leading up to the financial crisis....MORE
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Demeter
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#2
America's Housing "Recovery" -- It's Wall St. Buying Homes to Rent Back to Their Former Owners
Demeter
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I think we may be expecting fireworks while the ground is slowly burning under our feet.
jtuck004
Feb 2013
#57
They can hire half to kill the other, right? Those who are left will pay fees too. <G>
jtuck004
Feb 2013
#59