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Ohio Attorney General Files Suit Alleging Collusion on ABS Ratings

Tuesday, November 24, 2009

CHICAGO — Ohio Attorney General Richard Cordray filed a lawsuit in federal court Friday accusing the three major rating agencies of colluding with banks and issuers of mortgage-backed securities by inflating ratings on the debt, leading to major market losses for investors like Ohio’s pension and retirement funds.

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Ohio Attorney General Files Suit Alleging Collusion on ABS Ratings

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