WAMU 88.5 - American University Radio | The Mind Is Our Medium
Now Playing

S&P To Face Fraud Suit Over Mortgage-Backed Securities

Federal officials plan to sue the credit ratings agency, Standard & Poor's for fraud. S&P gave top ratings to many mortgage-backed securities in the years leading up to the financial crisis in 2008. The securities turned out to be far riskier than anyone imagined. S&P said the suit is without factual or legal merit.