While suing Standard & Poor’s for fraud, states from New Jersey to California ironically are helping fund the world’s largest credit rater’s legal defense by requiring that their pension funds use its rankings.
U.S. Senator Al Franken , a former NBC comedian, asked federal officials to investigate whether Comcast Corp. violated antitrust law by naming new managers at NBC Universal as regulators weigh the purchase.
Standard & Poor’s president Deven Sharma comments on a U.S. proposal, offered by Senator Al Franken, Democrat of Minnesota, and approved in May by the Senate, to let regulators decide who rates asset-backed securities.
Smartphones, mobile applications and in-car navigation devices would be required to get permission from consumers before collecting and sharing location data under legislation to be considered by a U.S. Senate committee this week.
Almost six years after the start of the worst financial crisis since the Great Depression, bond issuers are again exploiting credit ratings by seeking firms that will provide high grades on debt backed by assets from auto loans to office buildings considered inappropriate by rivals.