NU Online News Service, Sept. 30, 4:00 p.m. EDT
WASHINGTON–The chairman of a House Financial Services Subcommittee charged today that rating agencies betrayed not only the public trust "but also their special status under our laws."
Rep. Paul Kanjorski, D-Pa., chairman of the Capital Markets Subcommittee of the House Financial Services Committee, said the agencies had taken an "ask me no questions, I'll tell you no lies" approach toward rating residential mortgage-backed securities.
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