Frontline Post

http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/money-power-wall-street/s-p-to-pay-1-38-billion-for-once-rave-ratings-of-toxic-mortgages/


         There are 3 areas I didn't know about before the reading. S&P has to pay about $687 million to the US government and 1.38 billion to the department of justice. Another area I didn't know about was Toxic Mortgages. Rating agencies had issued high grades to toxic mortgages, which were investments made by banks. One more area I didn't know about was the risk of firms putting their business interest ahead of their sound ratings. It will never completely go away. I would like to know more about mortgages and the right and wrong doing within them.