As experts continue to point fingers in the wake of the economic recession, Risk Management Magazine explores the potential futures of ratings agencies. The magazine spoke with Professor David Reiss on "the perfect storm" of risk management departments overly dependent on credit agency monopolies. "This raises the issue of regulatory privilege," he commented. "Why should a select group of rating agencies be effectively given a monopoly over this risk assessment process? And more importantly, their many failures over the years raises the question of whether this system actually works."
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