Description: Standard & Poor’s, Moody’s Corp. and Fitch Inc. were sued by Ohio Attorney General Richard Cordray, who said the three companies disregarded their responsibility to provide “accurate credit ratings of investments.”
Source: Bloomberg.com

Date: 11/20/2009

Link: http://www.bloomberg.com/apps/news?pid=20601103&sid=aSfRXwQ.8m5Q

Questions for discussion:

• Summarize the arguments for and against the defendants in this case?
• Do you agree with the tenets of this lawsuit? Explain your thinking.