Blumenthal To Sue Top Three Credit Rating Agencies
Join the discussion below, or Read more at Hartford Courant.
#1 Jul 31, 2008
This 'lawsuit' is nothing more than another photo op for AG Blumenthal.
Anyone familiar with the bond rating business knows that 'ratings' are strictly opinions and are covered by the 1st Amendment to the Constitution.
'Ratings' do not speak to a security's price as the market sets that.
If anyone should be sued by the AG, it should be the Mayors of the cities listed for gross financial mismanagement. The rating agencies just call it the way they see it. Any rational person would admit that Hartford, New Haven, Waterbury et al. saw their best days years ago.
The irony of all this is that the AG thought the ratings for subprime mortgages were too high but imploding cities, like Hartford, are rated to low. At least with the mortgages, there was some geographic diversity.
#2 Jul 31, 2008
The interesting thing is that CT governmental institutions get lower rates than most of the higher rated state and local governments around the country. So the bond buyers believe CT is a much better bet than the credit ranking agencies.
While the lawsuit may go no where, it may force the ranking agencies to bolster the CT rankings thus producing lower future costs.
#3 Jul 31, 2008
WHy do we not Sue the Mayors of these citys for mismanaging OUR taxes? The local selfserving Govts have been fleecing the pockets of taxpayers for decades, With alittle help from Public Employee unions. Hartford has been going down for the last 20years you think Mayor Perez ever leaves his office? Its a Dump out their why not clean it up?
Besides if this is the case then I would assume that these same credit agencys are also lowering the credit scores of millions of people for Kickbacks mayby? The Selfserving laws the State has on the books help the insurance companys to raise everyones rates. The State endorses this practice! Blumenthal spends to much time once again filling his pockets at the expense of Conn Taxpayers. Just another wealthy Liberal..
#4 Jul 31, 2008
say what you will about blumenthal, he is one of the most activist ags in the country and usually on the right side of the issue.
this lawsuit can only help this state. he's doing his job.
to one of the previous posts, as for photo ops, he has had so many surely he doesn't do this for the want of more.
#5 Jul 31, 2008
This is nothing more than a pre-emptive strike to cover up the consequences of Ct's fiscal mismanagement both at the cities' and state level.
#6 Jul 31, 2008
What is it with these un educated Neocons that can't spell or use proper grammar?
Did you even pass 2nd grade?
#7 Jul 31, 2008
And you live in a fantasy world. Let me say this:
say what you will about blumenthal, he is one of the most corrupt ags in the country and usually on the wrong side of the issue.
this lawsuit can only hurt this state. he's not doing his job.
to one of the previous posts, as for photo ops, he has had too many surely he does do this for the want of more.
I had to rewrite your statements.
#8 Aug 1, 2008
Okay, I have a list of "things to do" for you:
1) Open legs
2) Remove head from ass
For every $1 Blumenthal's office has spent, he has earned the state $13 for education, middle class tax cuts, and balancing the budget.
The stupid neocon "trickle down" effect has helped nobody but the wealthiest of our citizens in the top 1%, its time to go straight for the jugular and make the big business pay for their antics, while making huge profits in a time of trouble for most Americans.
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