{"id":5748,"date":"2015-01-31T00:00:00","date_gmt":"2015-01-31T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/01\/doj_gets_ready_to_wrap_mortgag"},"modified":"2022-05-06T12:16:54","modified_gmt":"2022-05-06T17:16:54","slug":"doj-gets-ready-to-wrap-mortgag","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/doj-gets-ready-to-wrap-mortgag\/","title":{"rendered":"DOJ Gets Ready to Wrap Mortgage Bond Case Against Standard & Poor\u2019s, Probes Moody\u2019s"},"content":{"rendered":"\n

According to the Wall Street Journal<\/em>, the U.S. Department of Justice has been meeting with ex-Moody\u2019s Investor Service (MCO) executives to talk about the way the credit ratings agency rated complex securities prior to the 2008 financial crisis. Sources say that the probe is still in its early stages and it is not certain at the moment whether the government will end up filing a bond case against the credit rater. <\/p>\n

DOJ officials are trying to find out whether the company compromised its standards in order to garner business. The government\u2019s focus is on residential mortgage deals that took place between 2004 and 2007. <\/p>\n

Moody\u2019s and credit rating agency Standard and Poor\u2019s gave triple A ratings to the deals so that even conservative investors were buying the subprime loan-backed securities. The investments later proved high risk. When the housing market failed, the bond losses cost investors billions of dollars. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to the Wall Street Journal, the U.S. Department of Justice has been meeting with ex-Moody\u2019s Investor Service (MCO) executives to talk about the way the credit ratings agency rated complex securities prior to the 2008 financial crisis. Sources say that the probe is still in its early stages and it is not certain at […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3845,3882,4001,3757,3922,3883],"tags":[],"class_list":["post-5748","post","type-post","status-publish","format-standard","hentry","category-credit-rating-agencies","category-moodys","category-mortgage-fraud","category-mortgagebacked-securities","category-municipal-bonds","category-standard-and-poors"],"yoast_head":"\nDOJ Gets Ready to Wrap Mortgage Bond Case Against Standard & Poor\u2019s, Probes Moody\u2019s — Investor Lawyers Blog — January 31, 2015<\/title>\n<meta name=\"description\" content=\"According to the Wall Street Journal, the U.S. Department of Justice has been meeting with ex-Moody\u2019s Investor Service (MCO) executives to talk about the — January 31, 2015\" 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