I've got a piece in DealBook today about the S&P litigation.  Here are a couple of teasers, one on the constitutional implications of the suit:

Still, if S.&P. is singled out for ratings that were matched by the other ratings agencies, the government’s case might look like an exercise favoring certain speakers over others, and that might be a problem. It might even encourage the government to file lawsuits against other ratings agencies.

And one on the new perspective that it may mean the government is taking on settlements:

The S.&P. suit shows that at least part of the government has come around to Judge Rakoff’s way of thinking. If so, we should expect to see fewer settlements and more court cases in the future.

There's more at the link, so do give it a look, and let me hear your own views, either here or over at the Times.

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