S&P employees mocked company ahead of collapse

By Wire services | February 5, 2013 | Last updated on February 5, 2013
1 min read

Standard & Poor’s employees mocked the company ahead of the 2008 global financial crisis, according to internal communications cited in the U.S. Justice Department’s complaints against S&P and its parent company, McGraw-Hill Cos.

The employees joked about the company’s willingness to rate deals “structured by cows” and sang and danced to a song inspired by “Burning Down the House,” reports Bloomberg.

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Wire services