The financial crisis of 2008 spurred calls for reform of the credit reporting agencies that failed miserably in rating collateralized debt obligations.  Yet, even today’s proposed regulations will not be enough.  This article argues for actions that address conflict of interest, auditor malpractice, and poor financial reporting, if credit rating agencies are to deliver transparent and useful reports.

http://www.theamericancollege.edu/assets/pdfs/BFM_Coverstory.pdf

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