Standard and Poor's http://news.stlpublicradio.org en Ill. attorney general sues rating agency over housing bubble http://news.stlpublicradio.org/post/ill-attorney-general-sues-rating-agency-over-housing-bubble <p>Illinois Attorney General Lisa Madigan has <a href="http://www.scribd.com/doc/79364636/SP-COMPLAINT-01-25-2012-11-45-15">filed suit</a> against ratings agency Standard and Poor&#39;s for fraudulently assigning high ratings to mortgage-backed investments despite their risk.</p><p>The suit filed today in Cook County - the state&#39;s largest - argues that instead of independently evaluating mortgage-backed securities, S&amp;P gave them higher ratings than warranted to benefit investment bank clients and the agency&#39;s bottom line.</p> Wed, 25 Jan 2012 18:17:00 +0000 Rachel Lippmann 2938 at http://news.stlpublicradio.org Ill. attorney general sues rating agency over housing bubble