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FBN’s Rich Edson breaks down reports that U.S. and state prosecutors plan to file civil charges against S&P for ratings the firm gave ahead of t...
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I -- -- breaking news US and state prosecutors about to file civil charges against standard imports for its ratings on mortgage bonds just before the financial crisis -- -- questions being us.
Plus size five years ago now rich -- following a story has the latest stretch.
-- -- still going sources with knowledge of the situation confirmed to fox a Wall Street Journal report stating the Justice Department and state prosecutors.
Intend to file civil charges against Standard and Poor's rating services the sources say the government.
Well allege wrongdoing in its rating of mortgage bonds -- lead up to the financial crisis sources say.
Federal and state officials are expected to -- the lawsuits as early as this week S&P is a division of McGraw-Hill sources say the charges.
Come following lengthy settlement talks between the ratings agency.
And the Justice Department under examination for many of the years here is that now widely criticized issue were pays credit model.
More investment banks assembled product pay the ratings agency to rate it.
And then sell it to investors the SEC declines comment on this the New York attorney general's office Justice Department and McGraw-Hill.
All failed to respond immediately to request for comment -- going forward here there are investors who are looking.
To recoup losses during the financial crisis claiming that some of these ratings were fraudulent because of that model.
For the ratings agencies have always maintained under the First Amendment right -- great and -- in the way they want it and customers can believe it.
As such.
Back to you.
-- it -- and thank you very much.
Her dissenter and we can -- -- -- offices next RC what's going on right.
