May 19, 2012

Illinois AG Madigan Files Suit Against S&P for Risky MBS Ratings

January 27, 2012 By Gary Lacey

Illinois Attorney General Lisa Madigan has filed a lawsuit against Standard & Poor’s (S&P) for its fraudulent role in assigning its highest ratings to risky mortgage-backed securities (MBS) in the years leading up to the housing market crash. Madigan filed her suit in Cook County Circuit Court, alleging that S&P compromised its independence as a ratings agency by doling out high ratings to unworthy, risky investments as a corporate strategy to increase its revenue and market share. Click to continue

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Illinois AG Madigan Files Suit Against S&P for Risky MBS Ratings

Filed Under: Mortgage News Tagged With: ameriquest, attorney, countrywide, credit-ratings, development, education, housing, lisa madigan, marketing, mcgraw-hill companies, secondary, wells fargo

About Gary Lacey

Gary Lacey CEO / President Mortgage Brokers Network Corp, Inc. has been offering Mortgage Net Branch Opportunities and been in the Real Estate and Mortgage Industry since 1992. You Can Reach Gary Toll Free 1-888-589-7048.

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