Looking inside ourselves and out at the world
Independent and neutral with regard to all political and religious orientations,® aims to promote awareness of the major democratic principles on which tolerance is based.

$5bln lawsuit against S&P

** ROUGH CUT- NO REPORTER NARRATION** Speaker: U.S. Attorney General Eric Holder. The Department of Justice in a court filing said it was seeking civil money penalties from Standard & Poor's and McGraw Hill, alleging "considerations regarding fees, market share, profits, and relationships with issuers improperly influence S&P's rating criteria and model." This is the first federal enforcement action against a credit rating agency over alleged illegal behavior tied to the mortgage mess that brought the global economy to its knees. Standard and Poor's responded in anticipation of lawsuit filed late Monday saying: "A DOJ lawsuit would be entirely without factual or legal merit." "The DOJ would be wrong in contending that S&P ratings were motivated by commercial considerations and not issued in good faith."

© DailyMotion -

Comment on this article!
To post a comment, we encourage you to become a member of® or log in if you are already a member. You can still post your commentwithout registering, but you will need to fill your personal information each time.

Become a member (free)   |   Log in

Postings are subject to the terms and conditions of®. Before submitting your message , you must read the Terms and conditions of® and agree to them by checking the box below.
Your name:
  I have read and agree to the Terms and conditions of®.
Follow us on ...
Facebook Twitter