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Big Three No Longer Rate Our Trust

by Malcolm Berko

Dear Mr. Berko: I lost a lot of money in the preferred stocks of Fannie Mae, Freddie Mac and four banks because I relied on their AA ratings when I bought them. I lost a bundle in collateralized debt obligations that my broker told me were Triple-A rated. I lost more on insurance company stocks from MetLife, Hartford and AXA, which I had believed were solid. I blame Standard & Poor's and Moody's because of their high ratings on these investments. Those rating companies should be sued for ...

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