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DealBook: U.S. and States Prepare to Sue S.&P. Over Mortgage Ratings

Standard & Poor's

The Justice Department and state prosecutors plan to file civil charges against Standard & Poor’s Ratings Service, accusing the firm of fraudulently rating mortgage bonds that led to the financial crisis, people briefed on the plan said.

 

U.S. Steps Up S&P Inquiry

Federal prosecutors are stepping up their investigation of Standard & Poor's ratings of troubled mortgage securities during the financial crisis, according to former analysts questioned by prosecutors.

 

Fannie, Freddie Overhaul Could Cost $685 Billion

The total cost to rescue and then overhaul mortgage giants Fannie Mae and Freddie Mac could reach $685 billion, according to estimates by Standard & Poor's.

 

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