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The shareholders of Moody's, sure. But what about the shareholders of the companies they were rating?
by gk (g k quattro due due sette "at" gmail.com) on Tue Oct 20th, 2009 at 06:57:10 AM EST
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The people who really have a claim, at least morally, are the taxpayers/ratepayers who find that the collapse of monoline insurers triggers derating by ratings companies that have already shown themselves to be committing fraud in their ratings.

It would be very interesting to see someone sue e.g. JP Morgan on the basis that Morgan bankers knew that both that the ratings companies were not producing ratings based on anything and that the insurance companies were engaged in high risk business and neglected to warn bond issuers of these risks.

by rootless2 on Tue Oct 20th, 2009 at 07:02:27 AM EST
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