kallend 2,184 #1 January 7, 2011 Still having trouble with AAA ratings for toxic assets. www.propublica.org/thetrade/item/the-trade-credit-rating-agencies-standard-and-poors/... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
airdvr 210 #2 January 7, 2011 Interesting read. From the article... QuoteHere’s the problem: Credit rating companies have long contended that their conclusions are protected by the First Amendment, much as if their ratings were as irrelevant to the markets as, say, your average financial column. Dodd-Frank tried to change that, designating the agencies “experts,” just like lawyers or accountants, when their ratings were included in S.E.C. documents for certain kinds of offerings. That would make them liable for material errors and omissions in their ratings. But the agencies revolted. They refused to allow their ratings to be used in offering circulars, freezing up the markets. Panicked, the S.E.C. immediately suspended the rule for six months, pending more study. Then in late November, the SEC extended the delay indefinitely [5]. Looks like the SEC needs to grow a pair.Please don't dent the planet. Destinations by Roxanne Quote Share this post Link to post Share on other sites
kallend 2,184 #3 January 8, 2011 QuoteInteresting read. From the article... QuoteHere’s the problem: Credit rating companies have long contended that their conclusions are protected by the First Amendment, much as if their ratings were as irrelevant to the markets as, say, your average financial column. Dodd-Frank tried to change that, designating the agencies “experts,” just like lawyers or accountants, when their ratings were included in S.E.C. documents for certain kinds of offerings. That would make them liable for material errors and omissions in their ratings. But the agencies revolted. They refused to allow their ratings to be used in offering circulars, freezing up the markets. Panicked, the S.E.C. immediately suspended the rule for six months, pending more study. Then in late November, the SEC extended the delay indefinitely [5]. Looks like the SEC needs to grow a pair. Yep.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
