Justice Department Lawsuit Against S&P Ratings Services Finds 10 Employees Out Of 25 Named In Suit Still Employed At The Firm Hot

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David Tesher’s name is mentioned in the lawsuit against S&P 59 times. He was the managing director of one of the ratings agencies two collateralized-debt-obligation divisions. He remains at the firm, now over the department that analyses companies’ ability to pay their debts.
Five S&P executives were identified in the lawsuit as well as 17 unnamed employees identified by monikers such as “Analyst F” and “Senior Executive A.”
One internal instant message said that a security could have been put together by cows and the firm would give it a rating.
Ten employees named in the suit remain at S&P, although they now fill other roles. Regulators say it is disappointing that more than one third of employees remain at the firm who were allegedly involved in the ratings misconduct.


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