May. 19, 2022
May 19, 2022 Thank you for your consideration. I'm in favor of this rule change. I'm just a small, personal investor who like most, lost almost 50% of my portfolio during the 2008 recession. The more I learned about how the rating firms contributed to that collapse the more disgusted I became. I'm not a big fan of the Dodd/Frank legislation since it didn't really do anything about the too big to fail banks, but this is one of the areas that I agree. These rating firms were established when obtaining investor information was hard to do. That is no longer the case. I can find out almost all the same information about any company that any profession investor can. There is no need to continue with this archaic rating system except for these firm to maintain their power to manipulate the market. Thank you