SEC Stumbles Onto Something Worth Looking At

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Employees at the SEC who are not on Steve Jobs or climate watch duty may have the unenviable task of trying to deal with the epicenter of the credit crisis, the rating agencies. Mary Schapiro is planning on throwing some SEC brainpower at curbing the time honored tradition of shopping for ratings. With proposals focused on disclosure and transparency set for debate, this year's summer interns should prepare for their weekend assignment of how to circumvent anything that gets passed.
SEC's Schapiro Eyes Credit-Rating Firms [WSJ]

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