gold, page-30496

Would we be talking about this same highly respected and totally efficient and thoroughly accurate and
collusive bastion of honesty and integrity?.
We all know,if you F with da FED,they will supoena you with a hand delivered "nailgun" request to the forehead.
Just ask the top S&P dude when he had a crack at reality(honesty) down grading USSA.
Freemarket capitalism at its best.
Profits to all.BMD
Moody’s Reaches $864 Million Subprime Ratings Settlement
by
Matt Scully
and
David McLaughlin
14 January 2017 at 9:58:55 AM AEST 14 January 2017 at 11:38:04 AM AEST

• Agreement is victory for U.S. in probes of ratings industry
• Pact helps resolve a long-standing overhang for Moody’s

Moody’s Corp. agreed to pay almost $864 million to resolve a multiyear U.S. investigation into credit ratings on subprime mortgage securities, helping to clear the way for the firm to move beyond its crisis-era litigation.

Moody’s reached the agreement with the U.S. Justice Department and 21 states, which accused the company of inflating ratings on mortgage securities that were at the center of the 2008 financial crisis, the Justice Department said Friday in a statement. That penalty is about a third of the $2.5 billion that Moody’s earned in the four years leading up to the crisis. Standard and Poor’s, after fighting the U.S. in court for two years, settled similar claims with the U.S. for $1.5 billion last year.

While Moody’s failed to abide by its own standards in rating some securities according to the government, it said the settlement doesn’t contain a finding it violated the law or any admission of liability......"

Phhttttt....