Floyd Abrams Topic Archive

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Courts Examine Credit Raters' 'Intimate' Relationship With Bankers

The nation's big three raters are reaping the consequences of their embrace of Wall Street’s so-called structured financial products, many of which defaulted and cost investors billions of dollars.

By Ben Protess and Lagan Sebert
4 December 2009

How Credit Raters Fended Off Oversight From Congress and SEC

For years, the nation's big three credit raters have said they are open to stronger supervision. But an investigation shows that behind the scenes, they have repeatedly quashed or watered down government rules.

By Ben Protess and Lagan Sebert
11 November 2009

VIDEO: Lawyer for Credit Rater: We're Protected by First Amendment

The nation's biggest credit rating agencies are facing blame for underestimating the risk that led to the financial crisis. Floyd Abrams is a renowned First Amendment lawyer who has represented the credit rating agency Standard and Poor's for more than 20 years. Abrams, who made his name defending the New York Times in its landmark Pentagon Papers case, told the Huffington Post Investigative Fund in an interview that raters are entitled to free-speech protections similar to those given to journalists. He is using the argument to defend S&P in billions of dollars worth of lawsuits. » Related Story: Under Attack, Credit Raters Turn to 1st Amendment

By Lagan Sebert and Ben Protess
28 October 2009

Under Attack, Credit Raters Turn to the First Amendment

For decades, nation’s top credit rating agencies have managed to fend off a crackdown from Washington by contending their ratings, even when flawed, are just opinions protected by the Bill of Rights.

By Ben Protess and Lagan Sebert
28 October 2009