Illinois AG sues S&P over mortgage-linked securities ratings

01/26/2012 | Wall Street Journal, The

Illinois Attorney General Lisa Madigan sued Standard & Poor's Ratings Services, accusing it of misleading investors with its ratings of mortgage-linked securities. "Every opportunity that S&P has publicly they talk about their independence and how their ratings are objective, but then when you look at what actually happens inside the company you see they really abandon those principles," Madigan said. "They were willing to use every trick that they had to give a deal a higher rating in order to satisfy their customer."

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