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UPDATE: The Ratings Game

In a wide-ranging set of proposed reforms, the Securities and Exchange Commission is following through on its promise to clamp down on the credit rating agencies.

In a wide-ranging set of proposed reforms, the Securities and Exchange Commission is following through on its promise to clamp down on the credit rating agencies. The agencies — and the SEC, which is supposed to be the industry watchdog — have come under intense congressional criticism over their role

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