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Supreme Court Gives S&P A Pass on Mortgage Ratings

Supreme Court Gives S&P A Pass on Mortgage Ratings

| Nov 03, 2015 | Uncategorized

As you may recall, there was much uproar at the time of the mortgage crisis, blaming Standard & Poor’s ratings firm for making false statements about risky mortgage “derivative” products. A federal appeals court had originally ruled in favor of S&P in a lawsuit filed by the Boca Raton Firefighters & Police Pension Fund. This Monday, the Supreme Court refused to hear an appeal, effectively giving S&P a pass, and upholding the original appellate verdict.
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