Douglas Gansler Quoted in Law360 Article, "Attorneys Weigh In On DOJ's $1.38B Settlement with S&P"
Chris Yates and Mark Lebetkin
February 3, 2015
Douglas Gansler was quoted in Chris Yates and Mark Lebetkin's Law360 article, "Attorneys Weigh In On DOJ Settlement With S&P," on Tuesday, February 3, 2015.
Douglas F. Gansler, former Maryland attorney general, BuckleySandler LLP
“Today’s settlement signifies the third and final major round of litigation emanating from the financial crises of 2008. First, the federal government and state AGs reached the National Mortgage Foreclosure Settlement with the five major national banks for over $30 billion to address their alleged role in the issuance of subprime mortgages. Second, the federal government and state attorneys general settled cases with individual banks over the securitization of subprime mortgage backed securities. Now, the final major settlement addresses the rating agencies purportedly artificially awarding generous grades to those mortgage-backed securities to allure pension funds and investors to buy the overvalued securities. Today’s settlement continues to highlight the unprecedented federal and state cooperation in the wake of the financial crises.”