California asks court to enforce Moody’s subpoena

California’s attorney general on Monday accused Moody’s Investors Service of stonewalling his probe into why it gave its highest credit ratings to risky mortgage-backed securities that helped ignite the U.S. credit crisis. Attorney General Jerry Brown said his office took the “virtually unprecedented” step last Friday of filing a petition seeking a court order to enforce a subpoena his office issued last September demanding information about how Moody’s sets its credit ratings.

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