Illinois Attorney General Lisa Madigan has filed suit against ratings agency Standard and Poor's for fraudulently assigning high ratings to mortgage-backed investments despite their risk.
The suit filed today in Cook County - the state's largest - argues that instead of independently evaluating mortgage-backed securities, S&P gave them higher ratings than warranted to benefit investment bank clients and the agency's bottom line.
A proposed compromise to expand Missouri's texting-while-driving law appears to have fallen flat in a Senate committee.
The Senate Transportation Committee heard testimony Wednesday on a bill by that would prohibit all drivers - not just those 21 and younger - from texting while driving. Because similar bills have failed in the past, Democratic Sen. Robin Wright-Jones of St. Louis proposed making texting a secondary offense - meaning police would have to pull motorists over for something else before they could write a ticket for texting.
Some Missouri lawmakers want to give state education officials authority to intervene sooner to assist failing school districts.
Districts that lose state accreditation currently are given two years to improve before state education officials can step in. A push to eliminate the grace period comes shortly after the Kansas City School District became the state's third unaccredited district.
President Barack Obama delivered an election-year message to Republicans: Game on.
The GOP - in Congress and on the campaign trail - signaled it's ready for the fight.
In his State of the Union address Tuesday night, Obama issued a populist call for income equality that echoed the Occupy Wall Street movement. He also challenged GOP lawmakers to work with him or move aside so he could use the power of the presidency to produce results for an electorate uncertain whether he deserves another term.