The Securities and Exchange Commission held a discussion Tuesday regarding concerns about credit ratings. Sens. Al Franken, D-Minn., and Roger Wicker, R-Miss., called on the SEC to address issues with the big three rating agencies. "Despite frequent gridlock in Washington, Democrats and Republicans agree on the need for integrity in the credit-rating industry," Wicker said. Jules Kroll, head of Kroll Bond Rating Agency, said the biggest credit-rating agencies are once again sacrificing accuracy for profits, while Standard & Poor's Ratings Services President Douglas Peterson said an SEC proposal could create more issues.

Related Summaries