Standard & Poor’s Ratings Services could strike a deal as early as Thursday to pay more than $1.37 billion to resolve crisis-era lawsuits with the Justice Department and more than a dozen states, according to people familiar with the situation. The Justice Department would receive around $687 million, and the states, as a collective group, would receive a similar total, the people said. The deal would resolve a Justice Department lawsuit filed nearly two years ago alleging that S&P knowingly misled investors by issuing rosy grades of residential mortgages that turned out to be inaccurate. Eventually, attorneys general from 20 states and the District of Columbia filed lawsuits against S&P. [WSJ]
Goldman Sachs Willing To Write $5B Check If The Government Will Just Shut Up About "The Mortgage Crisis" Already
Lloyd and Co. are pretty much over listening to this broken record.