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Reply #121: Actually, there are numerous other new provisions for the ratings agencies [View All]

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Home » Discuss » General Discussion: Presidency Donate to DU
alcibiades_mystery Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-23-10 08:12 AM
Response to Reply #120
121. Actually, there are numerous other new provisions for the ratings agencies
Edited on Fri Jul-23-10 08:14 AM by alcibiades_mystery
This is the most important one, in my view. There's nothing wrong with providing a transition period. If you go into any law assuming as an axiom that it won't work, then of course you will have nothing to say but "It won't work." As it stands, this is a very smart small piece of the total legislation because it applies pressure on the ratings agencies and radiates out to the whole ABS market. Well, it will be overturned and tested, you say. That could be said about any law, and will be said, especially by people who enter into the analysis already knowing what they want their answer to be.
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