Press Releases

The Wall Street Journal: Rating Firms Face Pressure on Hill: Measure Would Require Quarterly Reviews to Help S&P, Moody’s, Fitch Sound Earlier Warnings

February 1, 2012

US Representative Mike Fitzpatrick has drafted legislation that forces Nationally Recognized Statistical Rating Organizations to reaffirm the accuracy of their ratings quarterly. Rapid Ratings’ CEO and Chairman, James Gellert, strongly supports this bill, and is quoted in the Journal as saying that the major ratings firms have “‘not been held to any accountability standards once they’ve issued the ratings.’”

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