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    Feb 9, 2013 |Column| Los Angeles Times
  1. Execs off the hook at S&P

    You may have heard last week about a couple of big lawsuits brought by federal and state governments, alleging that the credit rating agency Standard & Poor's concocted a fraudulent scheme that contributed to trillions of dollars in investment losses and the cratering of pretty much the entire world financial system.
    You may have heard last week about a couple of big lawsuits brought by federal and state governments, alleging that the credit rating agency Standard & Poor's concocted a fraudulent scheme that contributed to trillions of dollars in investment losses...

    Tags: Mortgages, Criminals, Banking, September 11, 2001 Attacks, Phil Angelides

  2. Feb 5, 2013 | Allentown Morning Call
  3. PA joins the blame game against Standard & Poor's over financial crisis

    Watchdog with Paul Muschick
    Pennsylvania was among several states that filed lawsuits Tuesday alleging that credit rating agency Standard & Poor's contributed to the nation's financial crisis by fudging its ratings. S&P is accused of misconduct involving securities backed by...
  4. Feb 12, 2013 |Column| Orlando Sentinel
  5. The vendetta against S&P, part II

    WASHINGTON -- My last column on the federal suit against the bond-rating rating agency Standard & Poor's drew some critical reactions that are worth sharing with readers. In the column, I argued that S&P, which badly erred in rating bonds tied to home mortgages, was being made a scapegoat for the financial crisis. As is well-known, this crisis -- with some exceptions -- was not foreseen by government officials, economists or bankers. S&P's sins, I wrote, stemmed more from this over-optimism than from a deliberate effort to mislead markets.
    WASHINGTON -- My last column on the federal suit against the bond-rating rating agency Standard & Poor's drew some critical reactions that are worth sharing with readers. In the column, I argued that S&P, which badly erred in rating bonds tied to home...

    Tags: Mortgages, Citigroup Incorporated, Financial and Business Services, Moody's Corporation, Economy, Business and Finance

  6. Feb 11, 2013 |Story| South Bend Tribune
  7. Buttigieg: City's in good financial shape

    <span style="font-size: small;">SOUTH BEND -- The city of South Bend is in good financial shape. In</span><span style="font-size: small;"> fact, it's in better financial shape than many other cities its size</span><span style="font-size: small;"> in the state.</span>
    South Bend Tribune
    SOUTH BEND -- The city of South Bend is in good financial shape. In fact, it's in better financial shape than many other cities its size in the state. That was the gist of Mayor Pete Buttigieg's address to the Common Council Monday concerning the...

    Tags: Credit Ratings, Safety of Citizens, Politics, Government, National Government

  8. Feb 4, 2013 | Los Angeles Times
  9. California finances praised but not upgraded by Moody's

    PolitiCal
    A major Wall Street rating agency said Monday morning that Gov. Jerry Brown's latest budget proposal shows California's finances are on the mend. But the agency, Moody's Investors Service, cautioned that California's progress could easily stall given...
  10. Feb 6, 2013 |Story| Los Angeles Times
  11. Is S&P to blame?

    Federal and state prosecutors sued the credit rating agency Standard &amp; Poor's this week for allegedly defrauding investors by giving inflated ratings to complex mortgage-backed securities that proved all but worthless after the housing bubble burst. The cases raise difficult questions about the freedom to express an opinion without being held liable if it's wrong. Nevertheless, it's worth exploring whether S&amp;P and its rivals deliberately soft-pedaled how risky those securities were in order to boost their bottom lines.
    Federal and state prosecutors sued the credit rating agency Standard & Poor's this week for allegedly defrauding investors by giving inflated ratings to complex mortgage-backed securities that proved all but worthless after the housing bubble burst. The...

    Tags: Mortgages, Financial and Business Services, Finance, Credit and Debt, Kamala D. Harris

  12. Feb 5, 2013 |Story| Los Angeles Times
  13. Justice Department, state officials to announce Standard & Poor's suit

    WASHINGTON -- Justice Department officials and attorneys general from California and several other states were set Tuesday morning to announce a landmark civil suit against Standard &amp; Poor's Corp. concerning the company's credit ratings of troubled mortgage-backed securities before the financial crisis.
    WASHINGTON -- Justice Department officials and attorneys general from California and several other states were set Tuesday morning to announce a landmark civil suit against Standard & Poor's Corp. concerning the company's credit ratings of troubled...

    Tags: Mortgages, Finance, Standard & Poor's Financial Services LLC, Trials, BP Plc

  14. Feb 5, 2013 |Story| Los Angeles Times
  15. S&P helped cause financial crisis with faulty ratings, Feds allege

    WASHINGTON -- Standard &amp; 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.
    WASHINGTON -- 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....

    Tags: Mortgages, Finance, Financial Markets, Manufacturing and Engineering, Credit and Debt

  16. Feb 4, 2013 |Story| Los Angeles Times
  17. S&P says it faces Justice Department suit for mortgage ratings

    WASHINGTON -- The Justice Department plans to file a civil lawsuit against Standard &amp; Poor's for its ratings of mortgage-related investments leading up to the financial crisis, the company said Monday.
    WASHINGTON -- The Justice Department plans to file a civil lawsuit against Standard & Poor's for its ratings of mortgage-related investments leading up to the financial crisis, the company said Monday. The suit focuses on S&P's ratings in 2007 of some...

    Tags: Mortgages, Moody's Corporation, Economy, Business and Finance, Credit Ratings, Finance

  18. Jan 30, 2013 |Story| Chicago Tribune
  19. State delays borrowing $500 million after credit rating downgrade

    Illinois budget officials say the state will delay today's planned sale of $500 million in construction bonds after a recent credit downgrade.
    Clout Street
    Illinois budget officials say the state will delay today's planned sale of $500 million in construction bonds after a recent credit downgrade. A spokesman for Gov. Pat Quinn's budget office said the decision was made after conversations with potential...

    Tags: Pat Quinn, Moody's Corporation, Credit Ratings, Standard & Poor's Financial Services LLC, Illinois Governor

  20. Jan 15, 2013 |Story| Los Angeles Times
  21. Fitch warns that debt-limit delay could hurt U.S. credit rating

    WASHINGTON &mdash; A failure by Congress to raise the debt limit "in a timely manner" could lead to a downgrade of the nation's AAA credit rating, Fitch Ratings said Tuesday.
    WASHINGTON — A failure by Congress to raise the debt limit "in a timely manner" could lead to a downgrade of the nation's AAA credit rating, Fitch Ratings said Tuesday. Republicans want major government spending cuts in exchange for a debt-limit...

    Tags: Social Security, Republican Party, Federal Reserve, Minor League Baseball, U.S. Department of the Treasury

  22. Jan 11, 2013 |Story| Chicago Tribune
  23. Illinois credit rating takes hit after no action on pensions

    SPRINGFIELD &mdash; One of the nation's leading credit-rating firms put Illinois on a negative watch list today because Gov. Pat Quinn and state lawmakers failed to address the overwhelming public pension debt in the just-completed lame-duck session.
    Clout Street
    SPRINGFIELD — One of the nation's leading credit-rating firms put Illinois on a negative watch list today because Gov. Pat Quinn and state lawmakers failed to address the overwhelming public pension debt in the just-completed lame-duck session....

    Tags: Wrigley Field, Pat Quinn, Regional Authority, Executive Branch, Tom Cross

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