Standard And Poor's Topic Archive

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VIDEO: Will Credit Raters Dodge Change...Again?

Although the nations largest credit rating companies are blamed for underestimating much of the risk that led to the financial crisis, so far they have dodged any significant consequences. Investors lost billions of dollars on bonds awarded top ratings by Moodys, Standard & Poors and Fitch, and now Congress wants answers. But will Washington really demand change and hold the raters accountable?

By Lagan Sebert and Ben Protess
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. ยป Related Story: Under Attack, Credit Raters Turn to 1st Amendment

By Lagan Sebert and Ben Protess
28 October 2009