Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, 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.

NYTimes, U.S. Inquiry Eyes S.&P. Ratings of Mortgages

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