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The penalty does not change the basic structure of ratings agencies and industry observers are conflicted about whether it’s a step in the right direction
Standard & Poor’s Ratings Services has agreed to pay $1.5 billion to settle claims the company defrauded investors by stamping risky financial products with bullish appraisals in the years leading up to the Great Recession. However, some industry observers aren’t convinced that the record penalties will achieve their intended effect of ensuring the ratings agencies...
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