Proposed conduct code for creditratings agencies draws criticism

After Enron and the slew of other equally tawdry corporate failures, regulators were concerned that credit rating agencies’ had not been able to predict or foresee these damaging blow-ups. “Some regulators may have thought the appropriate response to those scandals was that potentially regulating the ratings agencies would make sure these problems were avoided in the future. We, and others in the market, pointed out the fact that Enron and Parmalat involved cases of fraudulent behaviour that