Standard & Poor’s Warns of Possible Volcker Rule Downgrades
Standard & Poor’s has released an analysis on Monday contending that Goldman Sachs and Morgan Stanley, more than any other Wall Street bank, could suffer under the so-called Volcker Rule.
View ArticleEgan-Jones Barred for 18 Months on Some Ratings
The agreement settles accusations that the firm made misstatements about its record when applying for a government designation, the S.E.C. said.
View ArticleMoody’s Warns Jefferies on ‘Excessive’ Pay
The credit rating agency said in a note on Monday that it regarded the large compensation packages awarded to top executives as a potentially ominous event for bondholders.
View ArticleU.S. Accuses S. & P. of Fraud in Suit on Loan Bundles
The Justice Department has filed civil fraud charges in federal court in Los Angeles against Standard & Poor's over its ratings of mortgage-related securities.
View ArticleS.&P. Calls Government’s Suit ‘Meritless’
Standard & Poor's Ratings Services defended its corporate practices on Tuesday, saying a civil lawsuit filed against it by the Justice Department was unjustified.
View ArticleJustice Department Faces Uphill Battle in Proving S.& P. Fraud
The Justice Department in a civil complaint accused Standard & Poor's of issuing faulty credit ratings on securities tied to mortgages. While the document is chock full of dubious actions, it may...
View ArticleS.& P. E-Mails on Mortgage Crisis Show Alarm and Gallows Humor
In 2006, some executives at Standard & Poor's pushed to revise the firm’s rating models in hopes of preserving market share, while others expressed deep concerns about the poor performance of the...
View ArticleU.S. Contends S.& P. Purposely Used Faulty Models
The Justice Department’s suit against Standard & Poor’s over mortgage-related securities says computer programs assessing risk were manipulated to ensure high ratings and big profits.
View ArticleS.&P. Lawsuit Draws New Line in the Sand
The government's lawsuit against Standard & Poor's over credit ratings suggests that we may see fewer settlements and more court cases involving financial institutions in the future.
View ArticleS.&P.’s Counterattack on the Government
In its defense against a Justice Department lawsuit, Standard & Poor's argues that it was improperly targeted because it lowered the credit rating on federal debt two years ago. How far it will get...
View ArticleS.&P. Bond Deals Are on the Rise Since It Relaxed Rating Criteria
As banks began reviving the market for bonds tied to home loans, S.& P.’s tough stance was hurting the bottom line.
View ArticleSuit Charges 3 Credit Ratings Agencies With Fraud in Bear Stearns Case
Liquidators seeking to recover money for investors in two hedge funds filed the lawsuit on Monday against Standard & Poor’s, Fitch and Moody’s.
View ArticleMoody’s Cuts Ratings of Four Big Banks
The rating agency said there was less likelihood of a widespread bailout of banks by the United States government as there was during the financial crisis five years ago.
View ArticleStandard & Poor’s Ratings Names New President
Neeraj Sahai, who has been head of Citigroup's securities and fund services business since 2005, will succeed Douglas Peterson, who became president and chief executive of McGraw Hill Financial.
View ArticleAn Unexpected Apology Stokes the Embers of a Feud
Sean Egan and Richard B. Handler clashed two years ago over a downgrade in credit ratings. In recent weeks, reconciliation appeared to be no closer.
View ArticleNew Ratings Agency Hopes to Compete With Big 3 Outside U.S.
A group of smaller credit rating agencies outside the United States has formed Arc Ratings, a new company that the group hopes will provide a viable alternative to the so-called Big 3 credit rating...
View ArticleS.&P.’s Account of an Irate Treasury Secretary
Standard & Poor's is using an account of a conversation between Timothy F. Geithner and the chairman of S.&P.’s parent company to bolster its argument that a government lawsuit amounted to...
View ArticleS.&P. Lowers Puerto Rico Debt to Junk Status
The move intensified a cash squeeze for the commonwealth, whose financial condition is of outsize importance to the rest of the United States because its debt is widely held by individual investors...
View ArticleInvestors Appear to Shrug Off Puerto Rico’s Debt Downgrade
There was no mass selling of Puerto Rico bonds a day after the island’s credit rating was cut.
View ArticlePuerto Rico’s Second Cut to Junk Debt
The new downgrade was expected to further narrow the island’s room for tight financial maneuvering and has reportedly given rise to discussions with lenders about short-term relief on certain payments.
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