Commentary: Credit rating agencies need massive overhaul

07/28/2009 | Financial Times (tiered subscription model)

Arturo Cifuentes, a principal with New York financial advisory firm Atacama Partners, writes that although the reputation of credit rating agencies is in tatters, the firms continue to give opinions and influence markets. Cifuentes argues that substantial changes to the agencies are needed, but proposed reforms "are likely to be ineffective as they are based on misunderstandings."

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