Tag Archives: credit rating

US government sues Standard & Poor’s after AAA downgrade

standard & poors

The US government is blaming the financial crisis that catapulted the US into recession in 2007 on debt raters Standard & Poor’s. But by singling out S&P, the DoJ raises suspicions that it might be retaliating for a downgraded US credit rating. In a Monday evening filing in federal court, the US Justice Department introduced civil charges against S&P, one ... Read More »

Top 50 safest global banks

Bank vault

For banking safely, global citizens had better go to the local government. And pretty much avoid the U.S. At least that seems to be the take away from Global Finance Magazine’s ranking of  the world’s safest banks.  The top 9 banks in the magazine’s World’s 50 Safest Banks list are all state-backed institutions. The No. 1 bank on the list ... Read More »