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Poors is calling a potential lawsuit by the department of justice, for s ps mortgage bond ratings ahead of the financial crisis. These charges come five years after the financial crisis and would be the first alleging illegal behavior by a major Ratings Agency. As darren gersh reports, s p is fighting back. Reporter what took so long . Thats the reaction from critics who have long argued standard and poors gave a stamp of approval to flawed Mortgage Securities that helped bring on the financial crisis. It has to do with the unique role that ratings agencies play in the entire system of selling and distributing securities and the claims that they made about their role for which they were paid handsomely. Reporter in a statement, standard and poors said the Justice Departments lawsuit had no legal or factual merit. Saying it would disregard the central facts that s p reviewed the same subprime mortgage data as the rest of the market including u. S. Government officials who in 2007 public

New yorkUnited statesDistrict of columbiaMichael dellSuzanne prattAmeritrade jeff goldbergJerika millerDavid peltierTom hudsonDennis rodmanSusie tomSusie gharibLawsuit departmentDarren gershStandard poorsMortgage securities