September 30, 2005

The unintended consequences of SEC designation of "nationally recognized statistical rating organizations" makes for a fascinating tale of regulatory problems. AEI recently hosted a panel on the issue of pending legislation on the subject: Rep. Michael G. Fitzpatrick spoke on HR 2990; Floyd Abrams and I debated the First Amendment implications of the bill, while Jeanne Dering of Moodys and Professor Lawrence J. White of NYU discussed the regulatory implications. AEI's Alex Pollock moderated. A webcast is on-line.