Ratings agencies lose appeal but will RI stand up to them?

This is a quick update to a couple of stories I’ve written about how ratings agencies should be held liable for their deceptive ratings practices. You can read them here and here.

An appeals court just rejected the ratings agencies claims that the opinions they expressed in a case involving the CA pension system were protected by free speech.

Kudos to Frank Caprio, who said that he asked the ratings agencies not to rate the 38 Studios bonds in order to stop the deal in 2010, for being vocal on this issue.

The question still remains – when will Rhode Island stand up to the ratings agencies? When will AG Kilmartin join the federal government and other states in suing the ratings agencies?