Justice Department, states target Standard & Poor

Here’s a report from the Wall Street Journal on a breaking story about the U.S. Justice Department and state prosecutors going after Standard & Poor’s Rating Services following its rating performance contributing to 2008′s crisis.
The government says it will file civil charges alleging wrongdoing by Standard & Poor’s Ratings Services in its rating of mortgage bonds before the financial crisis erupted in 2008, according to people familiar with the matter.
The WSJ said allegations likely would be made in lawsuits by federal and state officials that are expected to be filed as soon as this week, the people said. The alleged wrongdoing by S&P centers on allegations related to the model used by S&P to rate mortgage bonds.
The likely move by U.S. officials would be the first federal enforcement action against a credit-rating firm for alleged illegal behavior related to the crisis. Several state attorneys general are expected to join the case, making it one of the highest-profile and widest-ranging enforcement crisis-era crackdowns.

Entrepreneurs stepping up to new heights in space ventures.

Here’s an update on Solyndra from the Silicon Valley Business Journal

The deadline for the Southern Oregon Angel Investment has been extended to Monday, Feb. 11.
Southern Oregon Regional Economic Development said its switch to a new application platform seems to have created trouble for entrants.
Entrepreneur who were successful in depositing applications are allowed to edit and polish plans during the next week. They may contact Codi Spodnik, codi@soredi.org or Steve Vincent, steve.vincent@avistautilities.com to unlock it in Pitchburner.

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    Greg Stiles

    Covering the Southern Oregon business and economy since 2001. Read Full
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