Goldman Sachs sued again over MBS

Bond insurer CIFG Assurance has become the latest aggrieved party to sue Goldman Sachs for misrepresenting a bunch of MBS-related securities that blew up. The suit, filed on Tuesday, relates to securities built from a portfolio of 6,204 loans made by M&T, which was also sued. Goldman subsequently packaged these loans into bonds that the …

S&P Downgrade – where was S&P 4 years ago?

By TOM RAUM Associated Press The S&P downgrade was more of a statement on the toxic political landscape in Washington than a comment on the nation’s ability to pay its bills. But S&P has its own checkered history. Just a few years ago, the company gave its top triple-A rating to some of the mortgage-backed …