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S&P analysts to be questioned in civil fraud case
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.
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.
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 Shira Scheindlin in New York rejected the ratings firms’ arguments Wednesday, leaving them an[...]
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 mattress. “It’s time to buy stock.” And buy he did. Not just Citigroup, and not […]
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 energy company, along with a cancer-test maker and a blood screener. Those four – Hudson […]
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 – Citadel Investment Group LLC, D.E. Shaw Group and Tudor Investment Corp., among others – […]
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 be liable for all or part of an investor’s loss. When times are good, most […]
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. Just give them time, though, for there’s little doubt about how this story should end. […]
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 for U.S. equities fell 5.9 percent in the first 11 trading days of 2009, second […]
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 & Co. and Deutsche Bank AG say the Federal Reserve’s decision to cut interest rates […]
Latest Opinion Digests
- Criminal Law: Child Abuse-Sufficiency Of Evidence-Closing Argument
- Civil Rights: Religious Freedom-RLUIPA-Res Judicata
- Civil Practice: Res Judicata-Stop Work Order
- Immigration: Drug Conviction-Removability-Overbreadth of State Offense
- Civil Practice: Asset Forfeiture-Sanctions
- Civil Rights: Due Process-Failure to State Claim
- Probate : Revocable Trust – Amendment – Reformation
- Employer – Employee : Unpaid Commissions – At-Will Status
- Criminal Law : Post-Conviction Relief – Effectiveness Of Counsel – Conflict Of Interest
- Appellate Practice : Jurisdiction – Final Judgment
- Domestic Relations : Parenting Plan – Child Support
- Criminal Law : Post-Conviction Relief – Guilty Plea – Sentence Advice
Top stories
- Cole County prosecutor loses third Sunshine Law appeal
- Supreme Court weighs lagging symptoms in work comp case
- New accommodation rights for pregnant workers offer broad protections
- Clark named as next Eastern District chief judge
- Russell reflects on change as women take charge of Missouri’s legal system
- NCAA scores positive gender equity review from St. Louis firm
- Big improvements for Missouri bar takers | List of bar passers
- Athena Dickson named vice-president of Missouri Bar
