. . . Ronald Filante, professor of finance at Pace University’s Lubin School of Business in White Plains, said these lawsuits will likely shed light on the securities underwriting process in addition to putting the rating agencies under the spotlight for never raising any red flags over mortgage-backed securities in the run-up to the subprime mortgage crisis.
“There was a complete miss, a complete misjudgment about these securities and how volatile they were,” Filante said. “It just brings up a ton of different issues, some of which relate to the market itself (and) if the market is fairly valuing these securities.”
Read the article in the Westchester County Business Journal.