Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, May 13, 2010

New York AG Investigates Whether Big Banks Deceived Rating Agencies

The New York Times reports this morning that the New York Attorney General has issued subpoenas to eight banks, investigating whether they provided false information to rating agencies to obtain higher ratings for mortgage-related securities.  The banks include the usual suspects -- Goldman Sachs, Morgan Stanley, UBS, Citigroup, and Merrill Lynch.  NYTimes, Prosecutors Ask if 8 Banks Duped Rating Agencies.

http://lawprofessors.typepad.com/securities/2010/05/new-york-ag-investigates-whether-big-banks-deceived-rating-agencies.html

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