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

Feb 5, 2013 (Morning Edition) — 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.

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Jim Zarroli

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