Franken's plan for ratings reform finds no SEC consensus

  • Article by: Jim Spencer , Star Tribune
  • Updated: May 15, 2013 - 5:41 AM

No action seems imminent on senator’s request for new SEC-appointed commission.

  • 9
  • Comments

  • Results per page:
  • 1 - 9 of 9
elmore1May. 14, 13 9:43 PM

Al, keep working at it. Next on your list should be regulating secondary education cost and disclosure. We need to nip the student tuition and debt problem in the bud before it becomes a bigger issue. Something similar to the credit card reform would be a good starting place.

12
5
member11May. 14, 13 9:55 PM

I oppose gamblers who demand that taxpayers pay off their losing bets. Just shut down Wall Street, it would be a huge step forward for American Taxpayers!

9
5
mnbusdrMay. 15, 1312:07 AM

Wall Street and the SEC have an understanding: Nobody on Wall Street goes to jail unless they steal from the "wrong people"; and the "wrong people" does not include most Americans.

11
5
checkfactsMay. 15, 13 6:19 AM

One of the brightest and boldest senators in the country, Al Franken continues to promote ethics and financial responsibility in the best bi-partisan manner.

10
7
Packman_1May. 15, 13 6:46 AM

Keep after them Al. The big money casino will never give in to ANY form of scrutiny or oversite without a fight. They operate under the assumption that all the money in America is theirs to play with.

9
3
paulusMay. 15, 13 8:23 AM

One of the brightest and boldest senators in the country, Al Franken? - If he's so bright, why did he vote for ACA and hurt the state he supposedly represents? I needed a laugh this morning.

2
1
cjohnstonMay. 15, 13 8:32 AM

Best lesson here is to do your own due diligence, on a personal level like picking a dentist or car repair shop, or a corporate level like investing. If you don't understand it stay out of it. We went thru this whole rating thing back in the early '80s with the junk bond debacle. Frankly, I think that even the rating agencies either don't understand enough about the nuances of what they are rating or the are just plain incompetent. There is no conspiracy by Wall Street as some would like to believe. As an investment professional I keep my clients out of bonds unless they are guaranteed against default--backed by the taxing authority of the issuer.

2
1
jpjc54May. 15, 13 8:39 AM

Anyone who bothered to actually read a prospectus would know the rating assigned by rating agencies was based on stated economic assumptions and that economic performance of a more negative magnitude would lead to possible downgrade. Do you homework before you invest. Franken is out of his depth on this topic like many others.

2
1
fishanhunt2May. 15, 1312:33 PM

I am certainly not a Franken fan, but on this issue I believe Al was on the right track. Trouble was, Franken needed to enlist several Sr. Senators to bring this issue forward along with him. It sounds like our Senator got schooled by the SEC, had his bottom paddled and sent back to the Senate with his tail between his legs. Not the way it should be, but that's the way it works in Washington. Franken's issue did have merit, but sadly merit seams to mean very little in D.C. or the SEC.

0
0
  • 1 - 9 of 9

Comment on this story   |  

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT