Judge grants ratings agencies a dismissal
Judge grants ratings agencies a dismissal
http://www.reuters.com/article/idUSTRE60Q05620100127
A dismissal means the case has no standing; no merit...
a legal pronouncement of "absurdity".... "thrown out of court".
The ratings agencies' only function is to "grade" a security.
They are obviously not declaring a VALUE (like an appraisal)... which is
an educated opinion of price.
They ARE saying.... by giving something a AAA...
that it has GREAT substance... dependability... "rock solid" for investment.
And the Court now said that such a suit or claim
to hold them liable for their professional declaration of an AAA rating
to almost 75% of the CDO's;
the packaged toxic sub-prime mortgages re-sold by the PALLET load...
is legally "absurd"? Without merit?
►The ratings agencies are acting in NO LESS capacity
then that of a FIDUCIARY.... a professional entity whose ONLY function
is to PROTECT public investment, by disclosing bottom line, unfiltered
TRUTH.... not "advice".... but disclosure/truth... then rating it.
And a Court finds them now to be legally unaccountable for failing that
public trust? Their ONLY professional function?
The federal courts are protecting the power base just as surely as Congress is.
It's criminal and traitorous.
bump
for others to read.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
New York
is a cess pool where criminal judges on the take from Wall Street live. With 80,000 signatures NYCAN was going to put a provision for a REAL INVESTIGATION into what happened in NYC on 9/11 on the ballot for voters to decide, a judge from the southern district NY through this out also, although it met the legal criteria for ballot placement.
Just one last kick in the nuts, then a final deathblow