Really, a new type of rating will make a difference?
The Obama Administration’s expected to require rating agencies to differentiate the ratings it applies to corporate bonds and more complicated securities to give investors a heads up that some debt is not the same as others. Wall Street, unsurprisingly is opposed to the idea, since it could sap demand out of the already lackluster securitization business. But, this all seems a bit silly. If investors need a different rating to let them know what they are investing in, they’ve hardly learned much from the debacle of the last two years.