Senator Mitchell hosted the BPC Leaders’ Forum on Credit Rating Agency Reform on June 9, 2008 in New York City. The Forum brought together eight of the nation’s most distinguished leaders in the financial industry, and U.S. Senators Bennett, Stabenow, and Carper.
The meeting addressed creative ideas for reforming our nation’s credit rating agencies (CRAs). The inability of CRAs to accurately assess the risks associated with an array of complex new investment instruments is widely understood to have played a significant role in the collapse in credit markets that continues to depress our nation’s economy.
Following the discussion, the Forum participants worked to develop a set of shared recommendations to improve investor confidence and help return our nation to robust and sustained economic growth.