MPs slam rating agencies over Northern Rock

The UK's Treasury Select Committee took the rating agencies to task last month over their role in the debacle involving struggling UK lender Northern Rock. The rating agencies gave testimony to the House of Commons Treasury Select Committee on November 13 as part of its continuing enquiry into financial stability and transparency. The committee questioned rating agency representatives on their role in the Northern Rock and US subprime crisis and also the regulation of rating agencies and the rat

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