Scandals Will Force Change At Rating Agencies: Attys

Law360, New York (May 13, 2010, 7:00 PM EDT) -- With new rules passing through the U.S. Senate and an investigation by New York's attorney general underway, the time has come for credit rating agencies to change their ways, attorneys say.

“I think they're going to have to change, because if they don't change, they're going to go the way of the dodo bird,” said Duane Morris LLP partner Marvin Pickholz. “They're going to become extinct.”

At issue is trust, something that pops up repeatedly for Moody's Investors Service, Standard & Poor's Financial Services LLC and...
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