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Reply #74: Blinking didnt take too long : ( [View All]

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Home » Discuss » General Discussion: Presidency Donate to DU
EJSTES2005 Donating Member (261 posts) Send PM | Profile | Ignore Thu Jul-22-10 07:35 PM
Response to Reply #66
74. Blinking didnt take too long : (
The Securities and Exchange Commission moved to defuse turmoil in the bond markets caused by ratings firms' refusal to allow their credit ratings to be used in deal documents.

Late Thursday the agency said it would temporarily allow bond sales to go ahead without credit ratings in bond offering documents, a move that would end an effective stalemate between ratings agencies and issuers.

The two sides had been at odds over changes enacted Wednesday in the landmark financial reform bill. The new law regards bond-ratings firms as "experts" and holds them liable for the quality of their ratings.

http://online.wsj.com/article/SB10001424052748704421304...
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