On the recordMay 18, 2009
Both our over-reliance on the major rating agencies and the poor performance of these entities during the recent market downturn has led me to believe that major reforms to the industry are needed.
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congress.govEd Royce: “Both our over-reliance on the major rating agencies and the poor performance of these entities during the recent market…”
Editor's note · Context
Royce calls for major reforms in the rating agency industry due to over-reliance and poor performance.
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