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Lawmakers tasked with merging House and Senate versions of the financial reform bill nixed the...

Lawmakers tasked with merging House and Senate versions of the financial reform bill nixed the Senate's controversial measure to have the government match rating agencies with debt issuers - a move designed to reduce the conflict of interest created when debt issuers pay their raters. Instead, lawmakers want the SEC to study the issue some more.
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Comments (2)
  • Leftfield
    , contributor
    Comments (3815) | Send Message
     
    Only Dodd could imagine a sentient adult swallowing the idea that having the government match rating agencies with debt issuers would reduce conflicts of interest. Ratings agencies would thus be even more beholden to Washington as it puts it's $trillions on the market. Oh, I get it, that's the whole idea.
    16 Jun 2010, 06:37 AM Reply Like
  • ebworthen
    , contributor
    Comments (2811) | Send Message
     
    Yes, they'd better form a committee to discuss it further. There will need to be catered lunches and time to talk with the lobbyists from the banks and ratings agencies in the back rooms and bars on K Street later that evening. I'm sure good things will come of it.
    16 Jun 2010, 07:23 AM Reply Like
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