WASHINGTON — The US government is expected to file civil charges against Standard & Poor’s Ratings Services, alleging that it improperly gave high ratings to mortgage debt that later plunged in value and helped fuel the 2008 financial crisis.
The charges would mark the first enforcement action the government has taken against a major rating agency involving the worst financial crisis since the Great Depression.
Comments
Standard & Poor will soon discover that they will have to pay for their complicity to commit crime.
And they must split the take with the federal government.
dougkinan@yahoo.com