The Justice Department has filed civil charges against Standard & Poor's, accusing the rating agency of refusing to warn investors that the housing market was collapsing in 2006 because it would be bad for business. The department is seeking $5 billion in penalties from S&P. If Justice ultimately got that amount in a trial or a settlement, it would be larger than the amounts paid by companies in any of the department's previous civil settlements. The Justice Department's 10 biggest civil settlements: 1. GlaxoSmithKline - $3 billion - July 2012 2. Pfizer Inc. - $2.3 billion - September 2009 3. Columbia/HCA I and II - $1.7 billion - December 2000 and June 2003 4. Abbott Laboratories - $1.5 billion - May 2012 5. Eli Lilly and Co. - $1.4 billion - January 2009 Continued... |