Legal Spotlight

The crisis in the US credit markets of 2007 has again put the spotlight on a group of much-criticised institutions: the credit rating agencies. First, following the Enron debacle, and now on the heels of the subprime meltdown, the rating agencies have taken centre stage, but not to a standing ovation nor even to a smattering of polite applause; instead, to a chorus of boos.

As in the aftermath of Enron, the US Congress is now getting into the game with plans being made to hold Congressional

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