Wednesday 03 December 2008

CNBC: New Rules For Credit Ratings Agencies

The SEC voted today to finalize new rules designed to curb conflicts of interest and promote competition in the ratings business. James Gellert, CEO of Rapid Ratings International, when speaking to Maria Bartiromo on CNBC’s Closing Bell said “we’ve seen a seminal moment in the way the rating agencies are viewed and they clearly lost creditability.”