|
|
Article: The Bizz, Sept. 18
- Article from:
- Inland Valley Daily Bulletin
- Article date:
- September 17, 2009
- Author:
CopyrightCopyright 2009 Inland Valley Daily Bulletin. Provided by ProQuest LLC. (Hide copyright information)
|
California attorney general to probe credit rating agencies
California's attorney general is launching an investigation into
Wall Street's big credit rating agencies to determine what role they
may have played in the collapse of the financial markets.
Attorney General Jerry Brown says he has issued subpoenas to
Standard & Poor's, Moody's Investors Service and Fitch Ratings to
determine whether they violated state law in "recklessly giving
stellar ratings to shaky assets."
Brown says the agencies either ignored or didn't understand the
risks of the debt they rated.
The probe, announced Thursday, comes after the California Public
Employees' Retirement System sued the agencies, blaming them for ...