Posts tagged McGraw-Hill Companies.
On February 3, the Department of Justice and 19 State Attorneys General announced their $1.375 Billion settlement of DOJ's FIRREA suit and related State AG actions against Standard & Poor's and its parent McGraw-Hill Companies over ratings practices in CDO and RMBS securities contributing to the 2007-2008 financial crisis. The companies entered a separate $125M settlement with Calpers, California's public retirement system. S&P will pay half the $1.375 Bn to DOJ (as a FIRREA "civil monetary penalty"), and the other half among the various State AG plaintiffs ($25M to Tennessee ...
Tags: CDO Evaluator Model, civil monetary penalty, CMBS, Department of Justice, FIRREA, McGraw-Hill, McGraw-Hill Companies, RMBS, S&P, Standard & Poor, The Covered Conduct