Moody's Says Provisions Of Fin Reg Reform Bill May "Trigger Disruptions" In Credit Market

Not like anyone cares what Moody's thinks but if even the rating agency can not spin some data in a benign way, there likely are some major sandtraps in there.

From Reuters:

U.S. lawmakers hammered out a historic overhaul of financial regulations as dawn broke over the nation's capital on Friday, handing President Barack Obama a major domestic policy victory.

"Moody's supports the many measures in the financial regulatory reform bill that enhance the transparency and accountability of the credit ratings process and is committed to implementing them in the most effective way possible," Moody's said in an e-mail statement to Reuters.

"At the same time, we remain concerned that certain provisions of the bill could have unintended consequences or trigger disruptions in the credit market," the statement said.

Comments

No comments yet! Be the first to add yours.