Comment: Rating Agencies Need Some Pre-emptive Ideas - Moody's And Standard & Poor's Start 2006 Facing Charges Of Running A Duopoly - And Some Tough Questioning. Their Only Hope? To Come Up With A Solution Before The US Government Imposes One.(Brief Article)

Banker, The, January, 2006

Senior executives at Moody's and Standard & Poor's may not have a happy new year. They are under increasing pressure from the US Congress about their perceived duopoly in providing credit ratings as well as other business practices such as unsolicited ratings.

Lobbying a must

The Credit Rating Agency Duopoly Relief Act of 2005 has already begun the long passage to the statute book. Although it may never reach its final destination, the rating agencies cannot afford to take that risk: they must spend this year lobbying against undue government interference in the business.

Special hearings

Executives may also find their time taken up testifying to committees and special hearings, the first of which was held by the House Financial...

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