U.S. Court Rejects Credit Rating Agencies ‘Free Speech’ Defense
September 14, 2009
Credit rating agencies may want to reevaluate their use of the First Amendment as a defense against liability arising from ratings they issued on subprime investment products that eventually soured. Industry lawyers say a recent decision by U.S. District Court Judge Shira Scheindlin in New York City could be an influential precedent in other cases pending against credit rating agencies in...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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