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The Justice Department last year accused S&P of lying about its ratings being free of conflicts of interest and may seek as much as $5 billion civil penalties.
Tagged with: Standard & Poor
Read More »Commentary: This is the wrong way to defend yourself if you get sued
It’s one thing to blow your reputation by slapping AAA ratings on all sorts of garbage subprime-mortgage bonds. It only makes it worse to go into court years later and argue that your most cherished values are, for legal purposes, a bunch of smoke.
Tagged with: Standard & Poor
Read More »Ratings firms lose free-speech bid to dismiss lawsuit
A U.S. judge refused to dismiss a lawsuit against Moody’s Investors Service Inc. and Standard & Poor’s, rejecting arguments that investors can’t sue over deceptive ratings of private-placement notes because those opinions are protected by free-speech rights. U.S. District Judge ...
Tagged with: Moody's Investors Service Standard & Poor
Read More »Citi’s Pandit excites Mr. Market, frees ‘animal spirits’ in all of us
One day last week, Mr. Market stumbled out of bed, downed a double espresso and learned that Vikram Pandit had said that his bank, Citigroup Inc., was having its best quarter since 2007. “Right,” said Mr. Market, reaching into his ...
Tagged with: Add new tag Citigroup Inc. Standard & Poor
Read More »S&P 500’s only net loss masks faster growth at Quest
Companies in the Standard & Poor’s 500 Index posted their first-ever combined loss last quarter, dragged down by $1.1 trillion in bank write-offs and a 69 percent slump in oil. Among the minority of winners: A regional bank and an ...
Tagged with: Standard & Poor
Read More »Hedge-fund destruction is route to Salvation
Like plenty of financial players, hedge funds are taking a beating. Many once-high-flying managers have been swamped by losses. Others have abandoned the business after discovering it wasn’t such an easy path to riches. Even some of the biggest firms ...
Tagged with: Bernard Madoff investors Standard & Poor
Read More »Investors may have misconduct or negligence claims
Anyone who invests knows – or should know – the practice involves risk, including the risk of losing your investment. In certain cases, however, investor losses may be recoverable. When financial professionals engage in wrongful or negligent conduct, they may ...
Tagged with: retirement Standard & Poor
Read More »GE’s AAA rating starts slow trip to graveyard
Oh, the sweet, saccharine smell of pretense. It looks as though the days may be numbered for General Electric Co.’s top-notch, AAA credit rating. Sure, the debt swamis at Moody’s Investors Service and Standard & Poor’s haven’t cut it yet. ...
Tagged with: General Electric Moody's Investors Service Standard & Poor
Read More »Analysts cut estimates as S&P 500 has 2nd-worst start
The Standard & Poor’s 500 Index is off to its second-worst start, shattering the biggest rally since World War II, as analysts cut earnings estimates by a record 83 percentage points and companies signal worse to come. The benchmark index ...
Tagged with: economy Standard & Poor Wal-Mart Stores Inc.
Read More »Strategists see 17 percent S&P 500 rise after saying ‘buy’
The same Wall Street strategists who told investors to buy stocks in the worst year since 1937 are even more bullish than a year ago, predicting the Standard & Poor’s 500 Index will rise 17 percent. UBS AG, JPMorgan Chase ...
Tagged with: Federal Reserve JPMorgan Chase & Co. Standard & Poor Wall Street
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