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Reply #115: Yes. This is good news. The law should also separate ratings houses [View All]

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Home » Discuss » General Discussion: Presidency Donate to DU
geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-23-10 07:54 AM
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115. Yes. This is good news. The law should also separate ratings houses
Edited on Fri Jul-23-10 07:54 AM by geckosfeet
from any other part of the trading industry so that they can be truly independent to rate financial obligations accurately. One of the reasons their ratings became so skewed was pressure from investment companies to favorably rate securities (mortgage backed securities) that the mortgage companies package an resell as good investments.

The new law simply says 'you can't lie to sell your stuff'. This is something we learn in second grade. Now we need laws for it.
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