SEC Chairman "Christopher Cox admitted he has no power to police the accuracy of ratings from these government-recognized ratings providers. ... There is a better answer: End the practice of giving ratings providers any official blessing in the first place", WSJ, 27 September.
Suppose the SEC could police the accuracy of the ratings agencies, would it do any better than it has done policing the CPA firms for the last 35 years? I say end the PCAOB and the rest of this useless alphabet soup of agencies and let the plaintiffs' bar sue 'em into better behavior.
Suppose the SEC could police the accuracy of the ratings agencies, would it do any better than it has done policing the CPA firms for the last 35 years? I say end the PCAOB and the rest of this useless alphabet soup of agencies and let the plaintiffs' bar sue 'em into better behavior.
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