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Daniel Indiviglio isn't sure Calpers (see), or anyone else looking to pin their investment...

Daniel Indiviglio isn't sure Calpers (see), or anyone else looking to pin their investment losses on the ratings agencies, has much of a case. "Of course, I'm not sure that the rating agencies have $1B to pay out anyway, even if they lose."
Comments (5)
  • montanamark
    , contributor
    Comments (1435) | Send Message
     
    california justice - act like an idiot and then sue because of it.
    jerry brown suing car makers over global koolaid warming. in california courts, anything is possible.
    16 Jul 2009, 07:53 PM Reply Like
  • Anwar Bhamla
    , contributor
    Comments (96) | Send Message
     
    Rating agencies do have a fiduciary responsibility to do due diligence. They are aided and abetted in this task by being granted monopoly rights to provide ratings.

     

    They may have already bonussed away most of their funds but I am sure they are required to carry liability insurance.
    16 Jul 2009, 08:46 PM Reply Like
  • wisurvey
    , contributor
    Comments (29) | Send Message
     
    I'll bet AIG wrote the policy. Great idea!!!!
    16 Jul 2009, 10:31 PM Reply Like
  • Alan Young
    , contributor
    Comments (2369) | Send Message
     
    I wonder if the writer of that article has any clue about the law--it sounded like he was guessing. It would take an hour or two to research cases on rating-agency liability... hmmm, I'll get back to you on that.
    17 Jul 2009, 01:33 AM Reply Like
  • Alan Young
    , contributor
    Comments (2369) | Send Message
     
    Followup: research done; please see my instablog:

     

    seekingalpha.com/insta...
    17 Jul 2009, 02:17 AM Reply Like
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