7/31/2008

Major credit-rating firms are the target of a lawsuit filed by Connecticut Attorney General Richard Blumenthal. The suit alleges that Moody's Investors Service, Fitch Ratings and Standard & Poor's Ratings Services gave artificially low credit ratings to states, municipalities and other public entities. "We are holding the credit-rating agencies accountable for a secret Wall Street tax on Main Street: millions of dollars illegally exacted from Connecticut taxpayers," Blumenthal said.

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