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News Breaks | | | | February 15, 2013 | | 08:15 EDT |  | MHP, MFG | S&P may benefit from blame game, WSJ reports
The Delphinus CDO 2007-1 got a triple-A rating and then defaulted within months, hurting investors. The SEC last year blamed Mizuho Financial Group (MFG) and it paid $127.5M to settle the SEC's lawsuit. Now, the Justice Department sees it differently, reports the Wall Street Journal. The Delphinus deal was one of more than 30 CDOs included in the federal government's lawsuit against Standard & Poor's Ratings Services (MHP) last week. Federal prosecutors say that S&P disregarded its own standards when rating Delphinus and the other CDOs, misled investors and should cover losses suffered by federally insured banks and credit unions that bought the securities, which included bundles of subprime mortgages, the Journal says. The discrepancy could give S&P a way to counterattack the Justice Department as the two sides prepare for a battle.Reference Link | |
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News For MHP;MFG From The Last 14 Days Check below for free stories on MHP;MFG the last two weeks. |
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| June 19, 2013 | | 10:01 EDT |  | MFG | On The Fly: Analyst Upgrade Summary
 Subscribe for More Information | | | 08:38 EDT | | MFG | Mizuho Financial Group upgraded to Buy from Neutral at Goldman
Subscribe for More Information | | | June 11, 2013 | | 14:19 EDT | | MFG | Japan to adopt 'bail-ins,' force bank losses on investors if needed, Nikkei says
Japan's Financial Services Agency will enact new rules that will forced failed bank losses on investors, if needed, via a mechanism known as a "bail-in," according to The Nikkei. Mitsubishi UFJ (MTU), Mizuho Financial (MFG) and Sumitomo Mitsui (SMFG) are among those proposing amendments to allow them to issue the types of preferred shares or subordinated bonds that would be used in such cases, the report noted. Reference Link | |
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