U.S. and States Prepare to Sue S.&P. Over Mortgage Ratings – NYTimes.com

http://dealbook.nytimes.com/2013/02/04/u-s-and-states-prepare-to-sue-s-p-over-mortgage-ratings/

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2 thoughts on “U.S. and States Prepare to Sue S.&P. Over Mortgage Ratings – NYTimes.com

  1. It will be interesting how this plays out. S&P may claim a suit is baseless, but aren’t they the benchmark that people compare other securities to in deciding whether to buy or sell, thus influencing its price? We know how the stock market crashed in ’29 and it essentially happened again in ’08, just in a more technologically advanced way. The difference is it was it involved houses and not as much banks. Someone please stop me if I’m talking out my ass, it’s only day 3 of business finance.

    • There is nothing new under the sun. I believe they (s&p) are at least partially responsible. I believe they also profited. Hopefully the judicial process will result in justice.

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