{"id":4469,"date":"2015-01-13T07:37:48","date_gmt":"2015-01-13T12:37:48","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4469"},"modified":"2015-01-13T07:37:48","modified_gmt":"2015-01-13T12:37:48","slug":"s-p-nears-settlement-with-justice-over-inflated-ratings","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4469","title":{"rendered":"S.&P. Nears Settlement With Justice Over Inflated Ratings"},"content":{"rendered":"

S.&P. Nears Settlement With Justice Over Inflated Ratings<\/a><\/h3>\n

On\u00a0television<\/a>\u00a0and\u00a0in the courtroom<\/a>, Standard & Poor\u2019s has waged war against a Justice Department lawsuit. But behind the scenes, the giant bond-ratings agency wants nothing more than to buy peace.<\/p>\n

After S.&P. mounted a two-year campaign to defeat civil fraud charges \u2014 portraying them as retaliation for cutting the credit rating of the United States \u2014 the ratings agency is now negotiating with the Justice Department to settle the case, according to people briefed on the matter.<\/p>\n

For S.&P., which is accused of awarding inflated credit ratings to mortgage investments that spurred the financial crisis, the delay in settling may prove costly. The Justice Department and more than a dozen state attorneys general are demanding that S.&P. pay more than $1 billion to settle the case, the people briefed on the matter said, a penalty large enough to wipe out the rating agency\u2019s entire operating profit for a year.<\/p>\n

If S.&P. capitulates to the government\u2019s financial demands \u2014 and it has privately signaled a willingness to do so, the people said \u2014 the settlement would support the conclusion that it is futile to fight government fines.<\/p>\n

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…click on the above link to read the rest of the article…<\/p>\n<\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

S.&P. Nears Settlement With Justice Over Inflated Ratings On\u00a0television\u00a0and\u00a0in the courtroom, Standard & Poor\u2019s has waged war against a Justice Department lawsuit. But behind the scenes, the giant bond-ratings agency wants nothing more than to buy peace. After S.&P. mounted a two-year campaign to defeat civil fraud charges \u2014 portraying them as retaliation for cutting […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2640,1433,2641,1548,696,2639],"class_list":["post-4469","post","type-post","status-publish","format-standard","hentry","category-economics","tag-civil-fraud","tag-justice-department","tag-mortgage-investments","tag-ratings-agency","tag-sp","tag-standard-and-poors"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4469"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4469\/revisions"}],"predecessor-version":[{"id":4470,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4469\/revisions\/4470"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}