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William G. McGuinness, a partner at Fried, Frank, Harris, Shriver & Jacobson, and John W. Brewer, special counsel at the firm, write that with the mortgage-backed securities and other structured-finance products now said to be virtually unsalable even at deep discounts having previously received AAA ratings, litigation involving the ratings agencies seems inevitable. Historically, the agencies have fared reasonably well in court. Will it be different this time?
January 05, 2009 at 12:00 AM
1 minute read
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