Ohio AG Aiming Regulatory Rifle At Credit Ratings Agencies

Global Pensions reports:

• "Three credit rating agencies could find themselves in court if the attorney general of Ohio believes there is a case to prosecute over their part in mortgage securitisation marketing. Marc Dann, attorney general of Ohio, has accused Fitch, Moody’s and Standard & Poor’s of leading pension funds to believe that triple A rated tranches of collateralised debt obligations (CDOs) were near risk free."

What part, if any, that the credit ratings agencies played in the subprime mortgage mess is an issue that Ohio AG Dann apparently would like to pursue further.

For more, see Ohio threatens ratings lawsuit.