Posted on 07/15/2009 8:16:23 AM PDT by Kartographer
* Calpers says it might have lost $1 bln from SIVs
* Says credit raters made 'negligent misrepresentations'
* Hearing scheduled for Dec. 11 (Adds details from lawsuit, background, byline)
(Excerpt) Read more at reuters.com ...
Its about time these rating companies take a hit.
100 percent agree. Their representations covered up this mess.
Denninger on Calpers suit
http://market-ticker.denninger.net/archives/1217-Stupidity-Defined-Blind-Buying.html
The idiots sue the liars. Where’s the popcorn?
about damn time. Negligent at least, criminal at worst.
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