The indications we've been given -- although no one is willing to state definitively what the final rule is likely to include -- suggest that we shouldn't get our hopes up that our chief concerns will be comprehensively or even meaningfully addressed. We hope we are reading those indications wrong.
Animosity towards ratings agencies has resulted in the widespread distrust of their predictive capacities on the part of many in the world of finance. At best, many investors now see the ratings given by S&P et al. as meaningless posturing, and at worst as complete untruths.