Blumenthal To Sue Top Three Credit Rating Agencies

Full story: Hartford Courant

Attorney General Richard Blumenthal said Wednesday that he is filing suit against the three major credit rating agencies and that big investment banks and bond insurers might be his next targets.

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Shoreliner

Branford, CT

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#1
Jul 31, 2008
 

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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.
joey

Glastonbury, CT

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#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.
GEO

Newington, CT

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Jul 31, 2008
 

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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..
amazed

Prospect, CT

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Jul 31, 2008
 

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joey wrote:
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.
agree.

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.

go dickie!
JMm

United States

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Jul 31, 2008
 

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amazed wrote:
<quoted text>
agree.
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.
go dickie!
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.
Dunt da Dunt

Oakdale, CT

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#6
Jul 31, 2008
 

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GEO wrote:
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..
What is it with these un educated Neocons that can't spell or use proper grammar?
Did you even pass 2nd grade?
C Robert Satti Sr

United States

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#7
Jul 31, 2008
 
amazed wrote:
<quoted text>
agree.
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.
go dickie!
And you live in a fantasy world. Let me say this:

agree.

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.

go dickie!

I had to rewrite your statements.
John Doe

Westbury, NY

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#8
Aug 1, 2008
 
C Robert Satti Sr wrote:
<quoted text>
And you live in a fantasy world. Let me say this:
agree.
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.

I had to rewrite your statements.
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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