S&P can't convince judge to split up $5B fraud case


A federal judge rejects a request by Standard & Poor's (MHFI) to split up the U.S. government's $5B lawsuit accusing it of lying about its credit ratings, but the judge gives S&P permission to obtain evidence the government may have sued in retaliation for the agency's decision to lower the U.S. credit rating in 2011.

S&P has said former Treasury Secretary Geithner angrily told McGraw Hill Chairman Terry McGraw in an Aug. 8, 2011 phone call, three days after the downgrade, that he was "accountable" for the company's actions and that S&P's conduct would be "looked at very carefully."

Comments (4)
  • cash
    , contributor
    Comments (689) | Send Message
     
    Know who your bosses are and toe the line, else be ready to pay the consequences. Elementary business rules that S&P ignored...
    15 Apr 2014, 05:56 PM Reply Like
  • ryanstaylor
    , contributor
    Comments (4) | Send Message
     
    The Feds sanction three companies to rate treasury bonds and then gets angry when one of them actually issues a downgrade. This suit should never have been allowed.
    15 Apr 2014, 06:29 PM Reply Like
  • The Rebel
    , contributor
    Comments (2729) | Send Message
     
    Would you have expected anything less from this abominable administration?
    15 Apr 2014, 07:30 PM Reply Like
  • ryanstaylor
    , contributor
    Comments (4) | Send Message
     
    The Feds sanction three companies to rate treasury bonds and then gets angry when one of them actually issues a downgrade. This suit should never have been allowed.
    15 Apr 2014, 06:29 PM Reply Like
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