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06-07-2003, 08:13 AM
The SEC issued a landmark report highlighting deficiences in the nation's major credit rating firms. There are four major credit rating firms in the country of which Standard and Poor's is one of the leading ones.
These credit rating firms inform investors around the globe of the credit worthiness of corporations and municipal government's commercial paper. These firms presently are unregulated. Much to its credit , the SEC concluded it is either going to do a good job or no job.
We are one of the last groups to suggest more regulation unless it is essential. In this instance, the role these firms play is of such significance, some action must be taken.
Read the artilcle in the Washington Post
http://www.washingtonpost.com/wp-dyn/articles/A26807-2003Jun6.html
These credit rating firms inform investors around the globe of the credit worthiness of corporations and municipal government's commercial paper. These firms presently are unregulated. Much to its credit , the SEC concluded it is either going to do a good job or no job.
We are one of the last groups to suggest more regulation unless it is essential. In this instance, the role these firms play is of such significance, some action must be taken.
Read the artilcle in the Washington Post
http://www.washingtonpost.com/wp-dyn/articles/A26807-2003Jun6.html