S&P Lawyer: DOJ's Investigation Intensified After U.S. Downgrade -CNBC
By Dow Jones Business News, February 05, 2013, 11:22:00 AM EDT
By Joan E. Solsman
The Department of Justice intensified its investigation of Standard & Poor's Ratings Services after the firm downgraded the U.S., the company's lawyer said Tuesday.
The comments from Floyd Abrams, who is representing the McGraw-Hill Cos. ( MHP ) unit, come the morning after U.S. Attorney General Eric Holder filed civil charges against the bond-rating company over its ratings of mortgage-related securities that buckled in the housing and financial crisis.
Speaking on CNBC, Mr. Abrams said neither he nor his client knows if the suit is politically motivated. He said he didn't know why the probe intensified, adding that he's sure the government would say the downgrade had nothing to do with it.
A spokesman for the Justice Department couldn't be immediately reached for comment. The department is holding a press conference about the suit Tuesday morning.
http://www.nasdaq.com/article/sp-lawyer-dojs-investigation-intensified-after-us-downgrade--cnbc-20130205-01057#.URE2Fh3m6C8
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