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Lisa Madigan sues S&P over high ratings on risky mortgages


Geoff

Geoff Dougherty

January 25, 2012 @ 4:54 PM

Illinois Attorney General Lisa Madigan is suing Standard & Poor's, accusing the rating agency of inflating grades given to risky mortgage-backed investments during the years leading up to the crash of the housing market.The lawsuit alleges the agency compromised its independence by issuing high ratings for unworthy or risky investments as part of a strategy to boost revenue and market share.

Related:
  • Attorney General Madigan sues S&P over mortgage ratings [Crains]
  • Illinois Attorney General Lisa Madigan Sues Standard & Poor's Over Ratings [Bloomberg]

Source: WBEZ
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