http://finance.yahoo.com/news/Conne...4.html?x=0&sec=topStories&pos=3&asset=&ccode= Great news! Finally someone is stepping up and holding the ratings agencies accountable for their contribution to the financial mess! Not a legal expert so I don't know if AG has a leg to stand on here, but at the very least this will help raise awareness to this issue. The entire purpose of these agencies is to assess risk. If they can't properly assess risk - what the fuck do they exist for?! These guys are NO different than _____ (insert analyst name here who works at any investment bank) coming out and telling you Bear Stearns is a solid buy "way down here". Litigation in the USA gets out of control sometimes, but times like this make it a god send.
Blumenthal is a good man, he is also suing a group of doctors who have denied the existence of a serious, life threatening disease http://www.earthtimes.org/articles/show/connecticut-attorney-general-charges-idsa,1155030.shtml, one that is leasding to many deaths and suicides http://www.msnbc.msn.com/id/30725967 Too bad he is running to replace scumbag Chris Dodd in November.