Nicolas Petit, Aug 26, 2011
It will have taken policy makers an extra financial crisis to realize that financial markets should not be hostage of the predictions of the “big three” credit rating agencies (the “CRAs”), i.e. Moody’s Investors Services, Standard & Poor’s, and Fitch ratings. Pluralism in ratings is the new mantra of regulatory proposals in the European Union (“EU”) and the United States. And controversial proposals abound, with cal
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