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« Sen. Whitehouse Says Sotomayor Confirmation Will Be Historic | Main | Consumers Paying Price For Failed Financial Regulatory System, Says Assistant Treasury Sec. »
Wednesday
Aug052009

SEC Must Share Some Blame For Financial Regulatory Failure, Market Collapse Says Dick Shelby

AuthorStaff DateWednesday, August 5, 2009 at 2:37PM
Sen. Richard Shelby (R-Ala.) says that the Securities and Exchange Commission's (SEC) reliance on a small number of credit rating agencies led to the the exposure of the financial market to "tremendous risk." Shelby says that the the current financial crisis was caused by the failure of the SEC and the credit rating agencies to recognize just how big these risks were. (0:25)
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