U.S. investigating S&P over mortgages: report
The plot thickens.
Economy • August 2011 • Views: 638
The U.S. Justice Department is investigating whether Standard & Poor’s improperly rated dozens of mortgage securities in the years before the financial crisis, The New York Times reported on Thursday, citing sources familiar with the matter.
The investigation began before S&P, a unit of McGraw-Hill, downgraded the long-term U.S. debt from a AAA rating to AA-plus this month, the paper said.