The credit rating agencies remain under intense scrutiny amidst the current financial crisis. Congress is currently considering multiple proposals to alter the federal regime for regulating rating agencies. Meanwhile, large-scale investors such as the California Public Employees Retirement Services (CalPERS) have commenced major litigation to recover losses allegedly suffered because of rating-agency failures related to subprime mortgage-backed securities. None of the proposals currently before Congress addresses the role that private litigation based on state law should or should not play in the regime for regulating rating agencies. This Note argues that existing federal law directed at rating-agency regulation preempts state-based claims such as those asserted by CalPERS; however, the preemption provision itself and the lack of illuminating legislative history leave room for disagreement on the scope of preemption. Thus, this Note urges Congress to expressly consider whether state law claims against rating agencies would detract from the goal of improving rating accuracy. Concluding that state law claims against rating agency would work against improving rating accuracy, this Note argues that Congress should amend existing legislation to decisively preempt state law claims against rating agencies.
News & Events
-
Volume 97 Lead Piece Profiled in New York Times
The Volume 97 Lead Piece, a study of how the Supreme Court treats business interests by distinguished legal scholars Lee Epstein, William M. Landes, and Richard A. Posner, was profiled in the May 5, 2013 edition of the New York Times. The story, titled Corporations Find a Friend in the Supreme Court, [...]
-
Volume 98 Spring Submissions Closed
The Minnesota Law Review has closed the spring submissions period for Volume 98. Submissions for Volume 98 will reopen on Thursday, August 1. Please see the submissions page for more details.
-
Volume 98 Submissions Will Open Feb. 15
The Minnesota Law Review will begin accepting submissions for Volume 98 on Friday, February 15, 2013. Please see this page for more details.
-
Minnesota Law Review Announces Volume 98 Editorial Board
The Minnesota Law Review is pleased to announce its Volume 98 editorial board, headed by Editor in Chief Jake Vandelist.
-
Minnesota Law Review Announces 2013 Symposium Topic
The Minnesota Law Review is pleased to announce that its 2013 symposium will address the legal and political issues facing organized labor in the United States. The symposium will be held at the University of Minnesota Law School on October 25, 2013.
Recent Issues
- Volume 97 – No. 5
- Volume 97 – No. 4
- Volume 97 – No. 3
- Volume 97 – No. 2
- Volume 97 – No. 1
- Volume 96 – No. 6
- Volume 96 – No. 5
- Volume 96 – No. 4
- Volume 96 – No. 3
- Volume 96 – No. 2
- Volume 96 – No. 1
- Volume 95 – No. 6
- Volume 95 – No. 5
- Volume 95 – No. 4
- Volume 95 – No. 3
- Volume 95 – No. 2
- Volume 95 – No. 1
- Volume 94 – No. 6
- Volume 94 – No. 5
- Volume 94 – No. 4
- Volume 94 – No. 3
- Volume 94 – No. 2
- Volume 94 – No. 1
- Volume 93 – No. 6
- Volume 93 – No. 5
- Volume 93 – No. 4
- Volume 93 – No. 3
- Volume 93 – No. 2
- Volume 93 – No. 1
- Volume 92 – No. 6
- Volume 92 – No. 5
- Volume 92 – No. 4
- Volume 92 – No. 3
- Volume 92 – No. 2
- Volume 92 – No. 1
- Volume 91 – No. 6
- Volume 91 – No. 5
- Volume 91 – No. 4
- Volume 91 – No. 3
- Volume 91 – No. 2
- Volume 91 – No. 1
- Volume 90 – No. 6
- Volume 90 – No. 5
- Volume 90 – No. 4
- Volume 90 – No. 3
- Volume 90 – No. 2
- Volume 90 – No. 1