Professor David Reiss spoke to Bloomberg about a recent lawsuit against Morgan Stanley, claiming that the company was given unwarranted investment grade ratings. The ratings agencies, including Standard & Poor’s and Moody’s, not only deny the allegations, but have also historically had similar charges against them dropped. They argue that the ratings are simply opinions, protected by the right to free speech. Professor David Reiss explained, “They’ve made an argument that effectively they’re just journalists.”
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