Wall Street Rating Agency Sued<\/h2>\n
The ratings agencies were so dead wrong about the A grades they issued on mortgage-backed \u00a0bonds that they were later proved basically worthless. \u201cBut those ratings were merely opinions!\u201d, they have said, entitled to the same constitutional protection as any other form of free speech. What is going on over on Wall Street and with these companies that are supposed to give us advice on investing? Wall Street Rating Agency Sued by Federal Government for Fraud by the Department of Justice.<\/p>\n
\u00a0<\/p>\n A lawsuit by the Justice Department is the first act against a ratings agency by a law enforcement agency. The Department of Justice said It would we filing several other high-profile mortgage fraud cases against key players in the middle of the financial crisis, including, but not limited to Bank of America and Morgan Stanley, just a start for Wall Street Rating Agency Lawsuits.<\/em><\/p>\n \u00a0<\/p>\n When the housing bubble burst, a lot of loans began to fail in huge numbers. The Financial Crisis Inquiry Commission determined that the ratings agencies were a \u201ckey cause\u201d of the crisis. Some say these borrowers should have never been approved, that may or may not be true. The American Public once again gets stuck holding the bill for the Government\u2019s inability to step up and actually police what happens in this country. Its not for me to decide but I think someone needs to do some digging and\u00a0give\u00a0some feedback about the\u00a0Wall Street Rating Agency Sued by Federal Government for Fraud<\/strong><\/p>\n \u00a0<\/p>\n On Monday, multiple news outlets reported that the Department of Justice was preparing to bring a civil fraud lawsuit against S&P as early as this week. The lawsuit will focus on S&P\u2019s 2007 ratings of mortgage bonds, known as collateralized debt obligations, the company confirmed. As S&P confronts its potentially most serious legal challenge, legal experts said it must face a new reality: its free speech defense may not play well in court.<\/p>\n \u00a0<\/p>\n \u201cThis defense has largely been pushed to one side,\u201d said James Cox, a securities law professor at Duke University. \u201cThe argument is now viewed skeptically. Courts won\u2019t cut them much slack.\u201d<\/p>\n \u00a0<\/p>\n In 2010, San Francisco Superior Court Judge Richard Kramer ruled that the First Amendment did not protect the ratings agencies<\/a> from liability for ratings issued on certain types of private investments. In that case, the plaintiff is the giant California Public Employees\u2019 Retirement System, known as Calpers.<\/p>\n In 2011, an Albuquerque, N.M., federal judge dismissed the free speech argument<\/a> raised by lawyers for the ratings agencies because, in part, the private trusts that technically purchased the mortgage bonds were not \u201cpublic figures,\u201d like publically traded companies, entitled to more protections, he said.<\/p>\n \u201cThe court rejects the rating agency defendants\u2019 arguments that the First Amendment provides any protection to them under the facts of this case,\u201d Judge James Browning wrote.<\/p>\n \u00a0<\/p>\n<\/blockquote>\n Read the Whole Article Here:<\/strong><\/a><\/p>\n I hope you found some value in this quick report about a Wall Street Rating Agency Sued by Federal Government for Fraud, please like on Facebook and Share with your friends.<\/p>\n \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..<\/span><\/p>\n Have you ever logged into Facebook and seen news stories, pictures and videos being shared virally by all of your friends?\u00a0 And when you clicked on them to view them, you got inspired to want to share them on your profile as well?<\/p>\n and you can make a fortune, if you know the right way to share!<\/em><\/span><\/strong><\/p>\n why this \u201cCrazy Group<\/em>\u201d of entrepreneurs is going viral on the internet right now.<\/p>\n Because we are\u00a0Educating Our Members and \u00a0Getting Massive Results.<\/p>\n And as soon as you register by clicking the link above, be sure to contact me so that I can give you exclusive access<\/strong> to our\u00a0Private Facebook Support Groups<\/strong>, our Private Team Training Site<\/strong>, and our Team\u2019s Custom Sales Funnels<\/strong>.<\/p>\n![\"France](\"\/zerostage\/files\/2013\/02\/r-SP-LAWSUIT-large570.jpg\")
<\/a><\/p>\nWall Street Rating Agency Sued \u2013 Other Key Players to Be Named Later<\/h2>\n
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<\/a><\/p>\nWall Street Rating Agency Sued By Federal Government for Fraud\u00a0\u2013 So, What Went Wrong?<\/h2>\n
\u00a0<\/em>Wall Street Rating Agency Sued\u00a0by Federal Government for Fraud\u00a0– The Whole Story?<\/h3>\n
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