"Standard & Poor's, Moody's Corp. and Fitch Inc. won dismissal of a lawsuit alleging that their ratings of nonprime MBS were faulty and caused five Ohio public employee pension funds to buy into these money-losing investments."
Thoughts about the residential real estate mortgage industry from a 40+ year insider eyewitness
Wednesday, September 28, 2011
A Faulty Court Decision
Did you see this in today's industry news?
"Standard & Poor's, Moody's Corp. and Fitch Inc. won dismissal of a lawsuit alleging that their ratings of nonprime MBS were faulty and caused five Ohio public employee pension funds to buy into these money-losing investments."
What BULL - Of course this Judge Should have known Better, those guys were surely at fault for their place in this mess. I hope this gets appealed!
"Standard & Poor's, Moody's Corp. and Fitch Inc. won dismissal of a lawsuit alleging that their ratings of nonprime MBS were faulty and caused five Ohio public employee pension funds to buy into these money-losing investments."
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