S&P tries to prove DOJ lawsuit is about payback
Ratings giant claims downgrade of US debt made S&P a target
According to Bloomberg, Standard & Poor's is seeking evidence to prove a Department of Justice lawsuit, accusing the ratings giant of mortgage-bond fraud, is payback for S&P downgrading the U.S. sovereign debt. S&P wants to show
The publication describes what S&P is now looking for to prove its theory:
McGraw Hill Financial Inc. (MHFI) and its S&P unit are seeking information from the Justice Department about the decision to target the company in the first federal case against a ratings firm for grades related to the credit crisis. S&P also wants a look at the government’s investigative files on other raters as part of a defense strategy to show it was unfairly sued.