Regulation of credit rating agencies

There is an interesting op-ed in today's FT by Frank Partnoy, professor at The University of San Diego School of Law called "Do away with ratings-based rules" on the proposed regulation of credit rating agencies. This follows on from the meeting of EU Finance Ministers yesterday. The EU website has an area dedicated to credit rating agencies. The speech by Charlie McCreevy, EU internal market commissioner, last month on regulation is also available.