This short note discusses the importance of the decision facing the US Justice Department in the near future regarding whether or not to take action against Moody’s Corp. for its actions in the lead up to the Financial Crisis. Having already fined Standard & Poor’s a record USD 1.375 billion for defrauding investors, the Justice Department faces a much different proposition. This note establishes just some of the reasons why it is imperative that Moody’s is punished, even if ultimately the punishment is less noticeable than that given to Standard & Poor’s.
Business Law Review