Regulating the Credit Rating Agencies? Less Would Be More

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Lawrence White, Jan 28, 2014

The three major credit rating agencies -Moody’s, Standard & Poor’s , and Fitch-continue to receive widespread media and policy attention. Since 2008 the Securities and Exchange Commission has expanded its regulation of the CRAs-partly on its own initiative and partly as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Injured investors-primarily pension