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Moody’s $824 Million Settlement with SEC Does Nothing for Homeowners

Livinglies's Weblog

These settlements are a slap in the face to homeowners who were forced into battle with an over-reaching enemy supported by the government. We have acknowledgements of wrongdoing here by Moody’s with respect to injury suffered by investors. But if the homeowners were not signing the false documents (the “loan contract”) there would have been no “loans” and there would be no “derivatives”, i.e., “securities” deriving their value from inactive or nonexistent trusts who issued certificates masked as “mortgage bonds.”

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THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.
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see https://www.bloomberg.com/news/articles/2017-01-13/moody-s-to-pay-864-million-to-settle-subprime-ratings-claims

Both Moody’s Investors Service, a unit of Moody’s Corp., and S&P played key roles in Wall Street’s making of toxic, subprime mortgage bonds. While subprime home loans typically go to borrowers with the weakest…

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