6/24/2013

Reps. Peter Welch, D-Vt., Luis Gutierrez, D-Ill., and Keith Ellison, D-Minn., have written to Standard & Poor's, Fitch Ratings and Moody's Investors Service warning executives to ensure ratings on synthetic collateralized debt obligations are correct. "It has been well documented that your institutions contributed to the financial crisis by underestimating the extraordinary risk inherent in CDOs," according to the letter. "It's vitally important that you get it right this time around."

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