Congressional Hearing – Credit Rating Agency
Below is the summary and discussion draft for the Congressional hearing that will be held on September 30, 2009.
See section 7
Below is the summary and discussion draft for the Congressional hearing that will be held on September 30, 2009.
See section 7
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Section 7 – Removal of Statutory References to Credit Ratings
Check this out- the Committee deletes ratings from the statutes.
While in a more perfrect world, I endorse the idea of no credit ratings, and/or regulaotry reliance on them, I think this is just a starting point for discussion. Realistically, we need to inprove the understanding of what a rating is, and improve what the rating is trying to describe.