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Bond Rating Agencies Now Held Liable – Why That Is a Good Thing

By John S. Tobey

A provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act is the liability of bond rating agencies (e.g., Moody’s and Standard & Poor’s) whenever their ratings are included in formal SEC registration materials. The result: The bond rating agencies now are  disallowing their ratings from being used. Without them, securitized bond offerings... »

Credit Rating Firms – They’re Back

By John S. Tobey

In September there was talk of the credit rating agencies fading away. Credit ratings were going to be removed from investment guidelines, bond issuers would not bother getting their securities rated and Congress would adopt financial controls to diminish the raters’ independence. Well, the credit raters are back, and they’re showing the kind of... »

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