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NewsWhore
04-29-2009, 11:50 AM
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Flawed Credit Ratings Reap Profits as Regulators Fail (http://news.google.com/news/url?sa=T&ct=us/0-0&fd=R&url=http://www.bloomberg.com/apps/news%3Fpid%3D20601091%26sid%3Dau4oIx.judz4%26refer%3Dindia&cid=1343426664&ei=C3n4Se0ZgpCYB6iquJYI&usg=AFQjCNF8f159RCd8jfQUxzR809zCzarJ2A)
Bloomberg
James O&#39;Connor, then comptroller of the currency, issued a regulation in 1936 restricting banks to buying only securities that were deemed high quality by at least two credit raters. “One of the major responses was to try to find a way -- just as we ...


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