The Big Bad SEC is Looking at an S&P Rating Decision: Be Afraid, Be Very Afraid

Last July Standard & Poor’s, a unit of McGraw Hill (MHP), pulled ratings on a $1.5 billion commercial mortgage backed security issued by Goldman Sachs (GS) and Citigroup (C). Now the Securities and Exchange Commission is taking a close look at that decision, which roiled the commercial mortgage securities market, reports the Wall Street Journal. But S&P can’t be too worried about this probe. After all, it and other credit ratings agencies were found to have fueled the financial crisis, a damn serious offense – and here’s how hard it’s been punished:

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