“He’s already subpoenaed S&P and has been in touch with Moody’s and Fitch which means he’s gathering information for a possible case of his own. “As a former Assistant Attorney General in the N.Y. Attorney General’s Office of Investor Protection and Financial Crimes, under both Eliot Spitzer and his predecessor, I know that office does not issue such high profile Martin Act subpoenas without careful consideration,” says New York attorney Stuart Meissner”.
“Says Miessner, “The New York Attorney General’s office does not like to take deference to Federal authorities when it comes to its securities division and I have no doubt that this will not be an exception.” He adds, “They are different animals and they live to compete with each other.”