Moody’s Investor Services

We’re still waiting to see if the lawsuits marshaled against law schools over their questionable employment statistics will have any effect. Obviously schools are misleading people about the employment outcomes of recent graduates — notice that the law schools aren’t even arguing that they give students an accurate picture. They just say their numbers shenanigans conform to the pathetic guidance laid down by the American Bar Association. But it’s still an open question whether this employment obfuscation will be legally actionable.

Basically, nobody cares if law schools lie to potential students.

But if the credit ratings agencies feel they’ve been lied to, that might be a whole different kind of problem…

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