"Connecticut's attorney general issued subpoenas to the three largest debt-rating firms as a part of an antitrust investigation. ... The [SEC] and state attorneys general in New York and Ohio have begun investigating how rating firms evaluated subprime-mortgage-backed securities", WSJ, 27 October.
How aggressive would the SEC be in investigating the rating agencies if there weren't state attorney's general looking over its shoulder? Especially since the SEC maintains the rating agencies cartel by recognizing "national" rating agencies.
How aggressive would the SEC be in investigating the rating agencies if there weren't state attorney's general looking over its shoulder? Especially since the SEC maintains the rating agencies cartel by recognizing "national" rating agencies.
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