August 18, 2011
DOJ Investigating S&P's Credit Rating Process
At least since the Enron/Worldcom scandals, the conflicts of interest involving the credit rating firms have been recognized. Now it is reported that DOJ has been investigating whether S&P improperly rated mortgage-backed securities prior to the financial collapse. According to the New York Times, the DOJ is asking whether S&P employees were prevented from downgrading securities by their superiors.
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