Msg. 53862 of 65535 (This msg. is a reply to
53859 by
clo)
Jump:
A sort of a 'caveat emptor' defense, eh? But since the S&P was supposed to be an independent, unbiased, last resort place to get reliable investment ratings, isn't this simply going to destroy the perception of 'value' they supposedly provided the financial world, and if so, why are they still in business?
S&P to Argue Puffery Defense in First Courtroom Test
By Edvard Pettersson - Jul 8, 2013 12:00 AM ET .
Standard & Poor’s, getting its first shot in open court at U.S. Justice Department claims it should pay as much as $5 billion in civil penalties, will defend itself by arguing reasonable investors wouldn’t have relied on its “puffery” about credit ratings.
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