November 10, 2012
Australian Court Rules S&P’s Ratings of MBS were Misleading
Hannah Low and Jonathan Shapiro of the Australian Financial Review report that an Australian Federal Court ruled that Standard & Poor’s rating of complex financial products was misleading. The court held that the credit assessment process was negligent and no competent ratings agency could have come to the conclusion that S&P reached. Hannah Low & Jonathan Shapiro, S&P Ratings Ruling Cost Billions, Australian Financial Review (Nov. 5, 2012).
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