SEC Must Share Some Blame For Financial Regulatory Failure, Market Collapse Says Dick Shelby
Sen. Richard Shelby (R-Ala.) says that the Securities and Exchange Commission’s (SEC) reliance on a small number of credit rating agencies led to the the exposure of the financial market to “tremendous risk.” Shelby says that the the current financial crisis was caused by the failure of the SEC and the credit rating agencies to recognize just how big these risks were. (0:25)
August 5, 2009
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