How do we bring back what I thought we all benefited for a long time, and that is, securitization of mortgages?
Something has gone wrong. We both agree with that.
The nature of today's credit rating industry reflects decades of regulatory missteps rather than market preferences.
My last question, and my time is about up, you also propose--your proposal would authorize the Securities and Exchange C...
Well, why do you want them then if----
I think that is probably an understatement.
Absolutely.
It would take a long stretch, wouldn't it, to bring a lot of confidence back into what we feel has been lost with the ra...
Today, we will consider a legislative proposal by the Administration to revisit the regulation of credit rating agencies...
Widespread overreliance on ratings meant that the effects of poor quality or inadequately updated ratings could ripple t...
Without that, there is no trust out there, is there?
How do we bring securitization back? How do we do this? I mean, it is based on trust, and maybe it is a brick at a time....
When I was Chairman of this Committee, we acted to address the problem after the SEC failed to take action on its own.
Unfortunately, the law that we passed in 2006 did not have time to take root before the problems that they were intended...
I think we have to tackle the conflict of interest head-on.
How is the decision to leave the NRSRO ratings embedded in the regulatory framework consistent with the goal of not affo...
I strongly believe that the credit rating agencies played a pivotal role in the collapse of our financial markets.
We need a mechanism that can resolve very large financial organizations in a way that is orderly, that protects the rest...
