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Australia to take Standard and Poor's fight to Europe

This is a response to Templeton's post about China being the cause of all the U.S.A's ills. This is one of the reasons your country's in so much shit Simpleton, has nothing to do with the China. The U.S. Government helped tank Europe, quit blaming everyone else.

IMF Australia, a listed company that funds large legal claims, won a world-first lawsuit against the ratings agency this week on behalf of 13 towns that lost US$16.5 million on AAA-rated synthetic derivatives called CPDOs.

The Federal Court ruled that S&P's assessment of the "grotesquely complicated" CPDOs, or constant proportion debt obligation notes, as "extremely strong" had been "misleading and deceptive".

It was the first time a ratings agency had stood trial over complex debt derivative products seen as a major driver of the global meltdown in late 2008, and IMF Australia has


Added: Nov-7-2012 Occurred On: Nov-7-2012
By: DirtyUncleBerty
World News
Tags: Australia, to, take, S&P, fight, to, Europe
Location: Australia (load item map)
Views: 1594 | Comments: 13 | Votes: 1 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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