Senate proceeding 10-01-08 00 :: 4:16:25 to 4:16:59 of 4:40:19

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Previous speech: Christopher Dodd Next speech: Bill Nelson

4:13:07 to 4:17:46( Edit History Discussion )
Speech By: Bill Nelson

4:16:21 to 4:16:35( Edit History Discussion )

Bill Nelson: practices of major credit rating agencies. they fostered the enormous growth of the mortgage-backed securities. they gave securities -- mainly consisting of subprime mortgages the gold standard or the

4:16:35 to 4:16:49( Edit History Discussion )

Bill Nelson: triple a rating. that rating gave investors the confidence that they were making safe investments. and without that triple a rating, iurance companies and pension funds and other investors would not

4:16:49 to 4:17:08( Edit History Discussion )

Bill Nelson: have bought those products. and so i'm calling for an investigation to probe the business practices of those agencies. investors relied on and trusted those credit ratings and the public deserves to know