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Market analyst Barry Ritholtz told Credit Union Times he thinks the California Public Employees’ Retirement System lawsuits against ratings agencies Moody’s and Standard & Poor’s have the potential to “go the distance,” because Calpers cares more about punishing them than recovering credit losses.

Ritholtz is CEO of New York-based investment software firm FusionIQ, and is a frequent guest on CNBC shows The Kudlow Report and Squawk Box. Ritholtz said he agrees with others who have called ratings agencies the “prime enablers of the credit crisis.”

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