Richard Blumenthal Rips The Ratings Agencies, And The Wall Street Masters They Bowed To

Senate candidate and Connecticut Attorney General Richard Blumenthal explained the new lawsuit he’s filing against the ratings agencies on Bloomberg this afternoon.

What’s his rationale?

Basically that the Moody’s (MCO) and S&P were operating at the behest of their Wall Street overlords (who were looking for good ratings) rather than offering objective judgments.

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