Arbeitspapier
Understanding Rating Addiction: US Courts and the Origins of Rating Agencies' Regulatory License (1900-1940)
This paper does challenge the "regulatory license" view that reliance by regulators on the output of rating agencies in the 1930s "caused" the agencies to become a central part of the fabric of the US financial system. We argue that long before the 1930s, courts began using ratings as financial community produced norms of prudence. This created "a legal license" problem, very analogous to the "regulatory license" problem and gave rise to conflicts of interest not unlike those that have been discussed in the context of the subprime crisis. Rating agencies may have had a responsibility in the Great Depression of the 1930s.
- Sprache
-
Englisch
- Erschienen in
-
Series: EHES Working Papers in Economic History ; No. 44
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Flandreau, Marc
Slawatyniec, Joanna Kinga
- Ereignis
-
Veröffentlichung
- (wer)
-
European Historical Economics Society (EHES)
- (wo)
-
s.l.
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
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Objekttyp
- Arbeitspapier
Beteiligte
- Flandreau, Marc
- Slawatyniec, Joanna Kinga
- European Historical Economics Society (EHES)
Entstanden
- 2013
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