S&P fraud charges News

Lawyers for Standard and Poor’s, responding to a U.S. government probe, have tried for months to show it did nothing wrong in rating exotic securities in the run-up to the financial crisis. In one meeting, the McGraw-Hill Cos. Inc. unit, …

Barely two weeks after the big subprime lender New Century Financial Corp. went bankrupt, a top Standard & Poor’s executive assured Congress that her employer could be counted on to sound the alarm for the next credit disaster. S&P ratings …