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
Captioning sponsored by wpbt this is n. B. R. Susie im susie gharib. Ghosts of the financial crisis come back to haunt standard and poors. The Justice Department is close to filing a lawsuit against the agency for wrongdoing in its ratings before the financial crisis. Tom im tom hudson. Weakness in Technology Shares helps derail a fiveweek runnup on wall street, we look at stocks and the individual investor. Susie and michael dell could be taking the Computer Company that bears his name private, as soon as this week. A look at what going private means for investors. Tom that and more tonight on n. B. R. susie entirely without legal merit, thats what standard and 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 s
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 publicly stated that problems in the
And lots of financial incentives dagen you get suspended and come and go. Stocks now and every 15 minutes. Nicole we are taking a look at the market. Yesterday there was a twopoint game. As i noted, we have had some backandforth action. The tech heavy nasdaq is still under pressure. We are seeing financials doing well. Names like travelers and United Technologies have had some moves. Continuing to watch names like netflix. The u. S. Dollar has changed direction. Gold has pulled back since yesterday. The major market averages are mixed at the moment. Back to you. Connell what about bonds . Our first guest has some very clear advice. Sell them. Sell them right now. With us from chicago is the vice chairman of ariel investments. We like clarity. If you look back at the history, if you go back to the 1800s, we have only had one period of time where Interest Rates were lower than where they have been recently. Obviously, Interest Rates have gone up to 2. 5 . Interest rates have been artific
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