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The SEC is weighing sweeping new rules designed to improve the quality of ratings after their poor performance in the financial crisis.
The 517-page proposal includes a requirement that ratings agencies post on their websites when a "significant error" is identified in their methodology for a credit rating action.
The letter was sent three days after the U.S. Treasury Department accused S&P of miscalculating -- by some $2 trillion -- the U.S. debt in the next 10 years. That calculation was in a draft press release announcing a downgrade in the government's credit rating from AAA to AA-plus.
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Can you help answer these questions from other members on NexusFi?
Here is a question I'd like to pose to the members though: What is the simplest way to make the rating agencies more accountable for their ratings? Identifying "errors" is one thing, but what changes should be made so that when they upgrade or downgrade something it actually means something more than just politcs or helping Goldman get a better price?
sorry I don't have an answer , all I know is until we actually get transparency and truth , nothing will be fixed at all
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
