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Justice Department Puts S&P Under A Microscope

Originally published on August 18, 2011 8:30 am
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DAVID GREENE, Host:

NPR's business news starts with Standard & Poor's under a microscope.

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GREENE: The agency made record profits during the housing boom, as it gave its seal of approval to bundles of what were actually very risky mortgages. The Times reports the Securities and Exchange Commission is also looking into S&P. It's not clear yet whether the two other leading ratings agencies, Moody's and Fitch, are also being investigated. Transcript provided by NPR, Copyright NPR.