Tags: WSJ | S&P | probe | Ratings

WSJ: S&P Faces More Scrutiny on Mortgage Bond Ratings

Tuesday, 17 Jan 2012 10:29 AM

 

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink

The Justice Department has stepped up its investigation of Standard & Poor's mortgage bond ratings during the financial crisis, the Wall Street Journal reported on Tuesday.

At least five former S&P analysts have been contacted by federal prosecutors in recent weeks, after some had not heard from investigators for more than six months, the newspaper said.

The McGraw-Hill Cos. Inc. unit disclosed in September it had received a Wells notice from the Securities and Exchange Commission indicating it could face civil charges for its ratings of a 2007 mortgage bond deal called Delphinus 2007-1.

It has not yet disclosed any investigation by the DOJ, which the WSJ reported is a civil probe.

Prosecutors are examining whether S&P managers pushed to weaken standards the company had set for rating the mortgage deals, and whether the company followed its established criteria in assigning ratings.

The recent interviews lasted two to three hours, and the former employees were told they would likely by contacted again, the Wall Street Journal said.

A spokesman for S&P declined comment.

© 2014 Thomson/Reuters. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

White House Won't Rule Out Sanctions on Putin Assets

Wednesday, 16 Apr 2014 14:59 PM

As tensions rise over the recent uprisings by pro-Russian forces in Ukraine, speculation is mounting over whether the Ob . . .

Census Data: 86M Workers Support 148M Govt Beneficiaries

Wednesday, 16 Apr 2014 14:48 PM

Over 86 million Americans work full time in the private sector and support almost 148 million who receive government ben . . .

Mark Nuckols: Sanctions 'Symbolic,' Don't Affect Majority in Russia

Wednesday, 16 Apr 2014 14:29 PM

Sanctions against Russia for its interference have fallen far short of having a meaningful impact and a more measured ap . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved