Thursday, August 18, 2011

Justice Department reportedly probes S&P mortgage securities ratings

The L.A. Times reports:
The U.S. Justice Department is investigating whether Standard & Poor's improperly rated dozens of mortgage securities in the years before the financial crisis, the New York Times reported Wednesday.

The investigation began before S&P, a unit of McGraw-Hill, downgraded the long-term U.S. debt from AAA to AA-plus this month.