Who's Afraid of the CRAs?
SEC staff have reportedly finally completed a study on the Franken amendment's notion of creating a board to assign the ratings function on structured finance offerings, having sent it on to the commissioners.
That measure -- venting anger at the rating agencies and designed to potentially disrupt their issuer pays business model -- was one of the most iconic symbols of the populist fever that spread on the Senate floor as the Dodd-Frank Act was legislated 28 months ago. ...1347 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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