Ratings Agencies Back in the Crosshairs

US lawmakers have taken aim at the major credit ratings agencies as they continue shaping financial industry reform legislation—but buy-side managers remain on the hook in terms of ensuring better internal tools to gauge creditworthiness of their investments.

In the Senate, legislators have approved two amendments in response to how agencies including Moody's Investors Service, Standard & Poor's (S&P) and Fitch Ratings may have fueled the global credit crisis, according to Reuters, The New York

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