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A comment on How a Doctor beat Wall Street. Parent comment
Don't forget the SEC. It gave a ratings monopoly to Moodys and two others (whose name escapes me).
Yes - the SEC said that the ratings from Moodys and the other two are the only ones that count for regulatory purposes. What could go wrong....
Regulation is systemic risk.
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Don't forget the SEC. It gave a ratings monopoly to Moodys and two others (whose name escapes me).
Yes - the SEC said that the ratings from Moodys and the other two are the only ones that count for regulatory purposes. What could go wrong....
Regulation is systemic risk.