Crisis in America. Article

Crisis America has been suffering a severe economic crisis that threatens the structure and integrity of the economy as a whole. We the people pick officials who then propose and pass laws with the intent to protect the American people from injustice. However, how effect can these rules be if people choose not to follow and abide by the rules set forth. coition has made numerous attempts at passing legislation meant to remedy credence- place agencies however, despite the reforms being made, companies such Moodys Investors serve up and Standard & Poors continue to run away dismally. For businesses that operate within the American economy, the motive is quite clear. Either conciliate to the problems that occur as they occur or neglect the problems, which could last lead to the business failing entirely. Although that is the norm for other businesses, it seems that for credit rating agencies there is a different code of conduct. jibe to the article, in December of 2009 the House had passed the Wall Street correct and Consumer Protection Act that calls for rating agencies to beef up their midland controls, register with the Securities and Exchange Commission, bear more government supervision, and set off more detail about their ratings and methodologies (Myers).

A provision of this magnitude would cause one to think that the chances of any subsequent problems would be slim to none. This was not the case; however, as credit rating agencies are continually exhibiting a poor performance. The article likewise states that there is another bill before the Senate called the Restoring Financial perceptual constancy Act (Myers). This bill would push for many of the same changes as the act that was passed in the House; however this one would also allow the SEC to deregister agencies that only provide bad ratings. In theory, both of these acts should have regulated the agencies to ensure that performance is secret code less than admirable. Unfortunately this is not the case seeing as... If you indispensableness to get a full essay, order it on our website: Orderessay

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