Regulating the Gatekeepers: An Analysis of the Regulation and Accountability of Credit Rating Agencies

Credit rating agencies have long been an important part of the United States capital markets system; yet they have occupied a rather odd role as relatively unofficial and unaccountable agencies upon which significant reliance is often placed.  This article focuses on the criticisms faced by these agencies, both generally and, more specifically, as related to the mortgage-backed securities crisis.  The article focuses on an analysis of proposed regulations and treatments put forth to deal with these constant criticisms, focusing on SEC amendments and proposals as well as a recent bill passed by the United States House of Representatives Financial Services Committee. 

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