Lawyer for Credit Rater: We're Protected by First Amendment

The nations biggest credit rating agencies are facing blame for underestimating the risk that led to the financial crisis. Floyd Abrams discusses his defense of Standard and Poor's, arguing that credit rating agencies are entitled to free-speech protections similar to those given to journalists.

Category:

News & Politics

Tags:

• credit rating agencies
• Standard and Poor's
• S&P
• First Amendment
• financial crisis
• Floyd Abrams

[3888799]

math is never an opinion. when credit rating agencies look at the books of banks, they must have a formula in order to determine the rating they deserve. my credit score is not a opinion, my tax return is not an opinion cannot believe of how our government are treating corporations what has our republic become

[Tigranis]

When such a huge amount of money is riding on 'an opinion', and people lose everything based on such 'opinions', isn't that grounds for criminal negligence?

You may as well let con artists off when they rob people of all their money. "It was just my opinion that the Fly By Night Insurance Co. existed, and that I was working for it! It's not my fault that this poor sucker accepted my opinion and gave me money! First Amendment protection ON!"

[procommenter]

Fascism is what's being promoted by the powers-that-be as the cure-all for America's ills.

[crock703]

Hate to use a cliche, but this doesn't pass the smell test.

[qwertywxyz]

spurious argument.

These ratings agencies should be sued along with the banks for fraud.

[j0hnwi11iams]

Not responsible for what they're doing. I have nothing against freedom of speech. I do have something against their claims to privacy.

[1mealperday]

its more than an opinion, its a rating

said rating is an industry standard. definitely more than merely an opinion.