4 ms·
Some opinions hold more weight than others. I'm not sure what the law is in the United States, but in Canada if an engineer gives poor, actionable advice in som
by Permit 14y ago
Some opinions hold more weight than others. I'm not sure what the law is in the United States, but in Canada if an engineer gives poor, actionable advice in some field related to engineering he can be held liable for any damages related to that advice.
A ratings agency is neither an engineering firm nor is it a food-review newsletter. I suppose it's the job of the courts to decide which of the two it more closely resembles and if its "opinions" can be protected by free speech laws.
- jbuzbee 14y agoMy gut-feeling is that a S&P rating is somehow "official" and therefore the company is more responsible for mistakes, but I'm not sure why. If I stand up a popular web site and give my own ratings on stocks, bonds, etc, would I get sued if my ratings prove poor? Where would that lead us?