Richard Shelby actually said...

if you don't even have the expertise to be able to figure out who is a reliable advisor and who is not, you shouldn't be running a bond fund...

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.