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View Diary: BREAKING: Standard and Poor's GUILTY, “deceived” and “misled” Investors (91 comments)

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  •  A creative defense, but not likely to wash (3+ / 0-)

    The agencies like S&P set themselves up as impartial parties, working entirely as neutral observers of information provided to them.  Secondly, they charge fees for their pronouncements.  If they are charging for a product, that is not "speech", it is a marketable commodity.

    As such, surprise, surprise, if their advice is found to have been shoddy, then the product they were selling can be judged to have been badly defective.  It is a bit like getting sold a prescription drug that kills your liver.  You would be understandably angry about that and an attorney would be available to help you get financial compensation for the damages done to you.

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