BU Now » Senate Permanet Subcommittee on Investigations http://blogs.bu.edu/bunow News, information and research from Boston University Wed, 21 Sep 2011 18:14:24 +0000 en hourly 1 http://wordpress.org/?v=3.1.4 Ratings agencies taken to task http://blogs.bu.edu/bunow/2010/04/23/ratings-agencies-taken-to-task/ http://blogs.bu.edu/bunow/2010/04/23/ratings-agencies-taken-to-task/#comments Fri, 23 Apr 2010 19:14:24 +0000 Dick Taffe http://blogs.bu.edu/bunow/?p=5286 calculatorA Senate panel concluded that the credit-rating agencies had conflicts of interest and ignored signs that fraud and lax lending had infected the housing market which triggered the economic crash.  Risk-management expert Mark Williams, a former Federal Reserve Bank examiner who teaches finance in the School of Management and is author of the just-published book “Uncontrolled Risk” about the collapse of Lehman Brothers, says the ratings agencies must be subject to regulatory oversight.

“Rating agencies cannot put profit in front of quality and their important market function. They need to be held accountable.”

Contact Mark Williams, 617-358-2789, williams@bu.edu

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