If the amendment that would create an SEC board to match ratings agencies with bond issuers...

|By:, SA News Editor

If the amendment that would create an SEC board to match ratings agencies with bond issuers becomes law, it's big trouble for Moody's (MCO -0.6%) and S&P (MHP -1.7%), Barry Ritholtz says. "Moody’s could be a zero. Their potential liability is enormous, and their future business model is in doubt." The ratings agencies are getting what they deserve: "Their privileged status is an anachronism that should be eliminated."