On February 5th, the Justice Department announced that it is suing Standard & Poor’s for fraud relating to an alleged scheme to defraud investors which played a significant role in causing our financial meltdown and the collapse of the real estate market. Most people are unaware of what this is all about and who S&P actually are.
Historically, lenders made loans to individuals and companies after reviewing their credit status, income, and other factors. The lenders would then either hold these loans as the borrowers paid them back with interest or they would sell them to other investors and get back …read more
Source: Steven Beade
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