Friday, March 20, 2009

Raters' Windfall in Bailout Program | Fed All-In

Critics say Moody's, S&P and Fitch have made few changes to the way they assess debt. Have they taken steps to avoid a repeat of past mistakes in assigning ratings? Still paid for ratings by the companies whose bonds they rate, potential conflict of interest. Anticipated competition for the three has failed to materialize so far. WSJ Op-ed: Secretary of the Fed? Bernanke/Fed all in this week to unlock markets and spur economy.

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