Martha Coakley, the Massachusetts attorney general whose 2010 U.S. Senate loss cost Democrats a filibuster-proof majority, has been clawing back political respect by declaring a one-woman war on Wall Street’s role in the collapse of the housing market.
Standard & Poor’s practices for grading commercial property bonds since the 2008 credit crisis are drawing scrutiny from Massachusetts authorities, according to three people with knowledge of the matter.
California and New York, along with Florida, agreed to join more than 40 other states in a nationwide settlement 16 months in the making that seeks to end abusive bank foreclosure practices that followed the collapse of the housing bubble, a person familiar with the matter said.
Standard & Poor’s may face widening litigation over credit ratings during the housing boom as states investigate the company and consider bringing new cases that would add to more than a dozen across the country.
Mary Jo White, U.S. President Barack Obama’s choice to run the Securities and Exchange Commission, may be compelled to provide more information about her ties to large banks as senators press her today about how she would operate as Wall Street’s regulator.