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S&P Asks Judge to Dismiss U.S. Lawsuit; Hensarling Tells Cordray to Stay Home

Receiving Wide Coverage ...

A Whole Lot of 'Puffery': Standard & Poor's is formally urging a judge to dismiss the government's civil lawsuit alleging the agency ignored its own standards and rated mortgage investments much higher than they should have been in years leading up to the financial crisis. S&P argued on Monday that the DOJ "had failed to substantiate its allegation that the CDO ratings would have been lower based on the deteriorating housing market,"…

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