Commentary: Rating agencies' role has evolved over time

05/25/2010 | Wall Street Journal, The

Columnist Dennis K. Berman explains how the role of the major credit rating agencies was born out of legislation and has evolved to become increasingly important and integral during the past 70 years. Lawmakers are working to address issues with the rating system, but understanding how it got to this point might be the first step, Mr. Berman wrote.

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