S&P Sued By Federal Government
By: Alex de Leon
Updated: February 5, 2013
The same credit rating agency that downgraded Illinois' credit is under fire from the federal government.
U.S. Attorney General Eric Holder says Standard and Poors committed civil fraud by giving high ratings to risky mortgage bonds. It's a move Holder claims helped send the nation's economy spiraling into a recession.
Illinois Attorney General Lisa Madigan praised the lawsuit. S&P denies any wrongdoing.
U.S. Attorney General Eric Holder says Standard and Poors committed civil fraud by giving high ratings to risky mortgage bonds. It's a move Holder claims helped send the nation's economy spiraling into a recession.
Illinois Attorney General Lisa Madigan praised the lawsuit. S&P denies any wrongdoing.
