Talking about Matthew Yglesias » Reform the Market for Ratings Agencies

 

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Matthew Yglesias » Reform the Market for Ratings Agencies
I think the larger issue with the ratings agencies isn’t so much that they’re underregulated as it is that regulations we’ve put on other actors in the marketplace have created a ratings agency cartel. The underlying the premise of the idea that private ratings agencies can work is that agencies that fail to do a good job will fail as businesses. That can’t happen if there are only three ratings agencies and it’s impossible for new competitors to enter the market

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