The Big Interview: Ian Bell

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The credit rating agencies continue to experience flak as the liquidity crisis resulting from troubles in the US subprime mortgage market rumbles on. We talk to Ian Bell, the head of European structured finance at Standard & Poor's, traditionally regarded as the most conservative of the main rating agencies. He asks where - or if - S&P got it wrong this summer, how its processes will change in response to the crisis, and whether or not formal regulation is becoming inevitable.

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