Over the past few years, there have been a string of government cases against financial powerhouses for the sins of the financial crisis. The most recent case is the Justice Department’s civil suit against ratings firm Standard & Poor’s for its grading of financial products. It is the first federal case against one of the country’s biggest ratings agencies. Here’s a look at some of the largest cases to have been settled or filed so far.
Standard & Poor'sOn Feb. 4, the U.S. government filed civil charges against Standard & Poor's Ratings Services, alleging that it improperly gave high ratings to mortgage debt that later plunged in value and helped fuel the 2008 financial crisis. The charges would mark the first enforcement action the government has taken against a major rating agency involving the worst financial crisis since the Great Depression.Henny Ray Abrams/AP