Wall Street Journal (December 23)
2009/ 12/ 23 by jd in Global News
The U.S. House of Representatives passed legislation which would strip Mood’s, S&P and other nationally recognized statistical ratings organizations (NSROs) of their special status. The WSJ urges the Senate to approve similar legislation. Among the paper’s complaints: the NSROs awarded triple-A ratings to questionable mortgage-backed securities. The newspaper points out the “consequences for investors were catastrophic.”
