Just as the Treasury is reinforcing the value of a triple-A ratings through its toxic-asset purchase programs (this appears to be the moniker of least resistance. Make a note.) The SEC is planning to examine the way it approves and monitors credit rating agencies. Yesterday, the SEC announced the panelists for its April 15th credit rating agency discussions. Click here for details from the Securities Law Prof blog.
While we're on the subject, why is the Treasury making a prior triple-A rating a condition for its toxic MBS purchase program? Hasn't it been established that the credit rating agencies were at their most irresponsible when they rated these securities? What's the reason for this seemingly requirement-less requirement?
Sunday links: a storytelling machine
14 hours ago
No comments:
Post a Comment