Reform Bill Targets Credit Raters

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On Thursday, May 13, 2010, the U.S. Senate¬† took steps to overhaul the credit-rating agency business, which is widely maligned for its role in the 2007-2009 financial crisis.¬† An amendment by Democratic Senator Al Franken passed for a government clearinghouse to be set up to assign debt rating duties to agencies, with federal regulators developing… Read more »