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The Boston Globe

Business

Coakley also reviewing S&P over mortgage crisis

On the heels of a federal lawsuit against Standard & Poor’s Ratings Services, Massachusetts Attorney General Martha Coakley said Tuesday that her staff also is looking into allegations the New York credit rating agency helped fuel the country’s mortgage meltdown and financial crisis.

The US Department of Justice filed a civil suit Monday against Standard & Poor’s, saying the firm “engaged in a scheme to defraud investors” through inflated ratings of mortgage products that later turned out to be bad.

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