“There is nothing in the Calpers complaint…….” says Moody’s. “The claim is without legal or factual merit…..” says S & P. “Fitch believes that the claim is without merit…..”. I’ll bet this thing gets settled for a BIG pile of money but no one will admit any wrongdoing. There should be more of these suits to come. I hope it teaches these rating agencies to do their job.
of course the lawsuit is completely w.o merit as most such lawsuits are. i hope it gets dismissed with prejudice and gives these stupid pltfs the big middle finger.
This lawsuit is completely with Merit Mary B. AAA ratings on bundles of mortgages with subprime loans in excess of 100% with no money down and no checks on credit or the finances of the borrower are not loans that could under any circumstance be considered the safest loans available.
Furthermore the sturcture of these SIV’s does not give investors information about the underlying assets to these derivitives, only the rating agencies and managers of the SIV’s were allowed to see that.
The ratings agencies are the reason that some 1.4 trillion in bad aforementioned mortgage loans were sold to institutions worldwide collapsing the credit markets, and neccessitating hundreds of billions of taxpayer dollars in the U.S. alone to save the country from another great depression.
Mary, your arguments are without merit, as are the rating agencies, and you no doubt have some stake in this case given your opinion that has no basis in any of the facts of this case.
We need to punish these companies and make an example out of them to restore worldwide confidence in the United States’ financial system if we are to remain the economic powerhouse of the world. Massive punitive damages will make it unattractive for speculators to sidestep regulations in effect since the great depression and crash the economy for their own personal benefit.
All the taxpayers who are mad that their money went to bail out the richest and most greedy and irresponsible companies in the country will agree that the rating agencies need to be punished, and that these companies are criminally liable as well, prison sentences are in order.
“There is nothing in the Calpers complaint…….” says Moody’s. “The claim is without legal or factual merit…..” says S & P. “Fitch believes that the claim is without merit…..”. I’ll bet this thing gets settled for a BIG pile of money but no one will admit any wrongdoing. There should be more of these suits to come. I hope it teaches these rating agencies to do their job.
of course the lawsuit is completely w.o merit as most such lawsuits are. i hope it gets dismissed with prejudice and gives these stupid pltfs the big middle finger.
This lawsuit is completely with Merit Mary B. AAA ratings on bundles of mortgages with subprime loans in excess of 100% with no money down and no checks on credit or the finances of the borrower are not loans that could under any circumstance be considered the safest loans available.
Furthermore the sturcture of these SIV’s does not give investors information about the underlying assets to these derivitives, only the rating agencies and managers of the SIV’s were allowed to see that.
The ratings agencies are the reason that some 1.4 trillion in bad aforementioned mortgage loans were sold to institutions worldwide collapsing the credit markets, and neccessitating hundreds of billions of taxpayer dollars in the U.S. alone to save the country from another great depression.
Mary, your arguments are without merit, as are the rating agencies, and you no doubt have some stake in this case given your opinion that has no basis in any of the facts of this case.
We need to punish these companies and make an example out of them to restore worldwide confidence in the United States’ financial system if we are to remain the economic powerhouse of the world. Massive punitive damages will make it unattractive for speculators to sidestep regulations in effect since the great depression and crash the economy for their own personal benefit.
All the taxpayers who are mad that their money went to bail out the richest and most greedy and irresponsible companies in the country will agree that the rating agencies need to be punished, and that these companies are criminally liable as well, prison sentences are in order.