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April 29, 2009

Flawed Credit Ratings Reap Profits as Regulators Fail Investors

By David Evans and Caroline Salas

April 29 (Bloomberg) -- Ron Grassi says he thought he had retired five years ago after a 35-year career as a trial lawyer.

Now Grassi, 68, has set up a war room in his Tahoe City, California, home to single-handedly take on Standard & Poor's, Moody's Investors Service and Fitch Ratings. He's sued the three credit rating firms for negligence, fraud and deceit.

Full Story...

Posted by boyang at April 29, 2009 7:18 PM