SEC mulls charges against S&P in CDO case

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Reuters

SEC mulls charges against S&P in CDO case

Lawrence J. White | Sep 26, 2011

Lawrence J. White was cited in a Reuters article on possible SEC charges against Standard and Poors.

The major agencies have long successfully defended themselves against lawsuits over flawed ratings by citing their First Amendment rights to state their opinions. So far, they have withstood legal assaults mounted by private lawyers to recover money investors lost in the credit crisis. "This is yet another challenge to that defense," said Lawrence J. White, a New York University economics professor. White noted that the SEC's investigation of S&P follows steps by Congress in the Dodd-Frank Act to make the agencies more responsible for their judgments.

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