Business and Finance

Financial Market Regulation

Traders work on floor of New York Stock Exchange in New York (REUTERS/Keith Bedford).

Paper

A Real Fix for Credit Ratings

July 9, 2014, Ann Rutledge and Robert E. Litan

Ann Rutledge and Robert Litan assert that credit ratings agencies are woefully overdue for structural change. The authors propose that credit agencies need a single, numerical, public structured credit scale to serve as a yardstick of structured credit quality in the U.S. debt capital markets, not the current ordinal scale.

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