Monday, March 15, 2010

Rating Agencies Sued For Violating Public Trust

According to the Los Angeles Times Connecticut's Attorney General filed a lawsuit a few days ago against Moody's and S&P claiming that they knowingly cooked up the ratings they issued for complex derivatives. The latter have been blamed for sending the US economy into recession.

You will recall that the SEC also carried out an investigation of the ratings agencies. We blogged about that at the end of 2009.

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