There are staggering numbers coming out of the energy world – numbers that explain how to invest in natural gas now… According to the Energy…
We found yet another reason why the U.S. retirement crisis will be uglier than many retirees are prepared for…
You see, while retirees were napping last year, Congress and President Barack Obama were quietly stealing from their pension plans by enacting a little-known law called MAP-21.
This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street…
This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street…
A massive U.S. government S&P lawsuit has no doubt hurt the fortunes of Standard & Poor’s parent company The McGraw-Hill Companies Inc. (NYSE: MHP), whose shares have dropped 25% since it was filed.
But the collateral damage could spell bad news for a number of parties and has implications even for the overall health of the U.S. economy.
The Justice Dept., joined by attorneys general from 16 states, unveiled a case accusing S&P of fudging its ratings of subprime mortgages to make the toxic securities appear better than they were.
The federal government is seeking $5 billion in penalties — more than five times what S&P made in 2011 — to cover losses to investors in federally insured banks and credit unions. Separate suits filed by individual states could more than double that figure.
It’s the first time the government has taken action against a credit rating agency over illegal behavior tied to the recent financial crisis.
This is a syndicated repost published with the permission of Money Morning – Only the News You Can Profit From. To view original, click here.…
