I have a further point and a question about what the Minister has just said. I should have mentioned that I have met the senior management of the rating agencies, both here and in New York, and it is fair to say that they do not necessarily welcome such massive reliance being placed on them; they did not necessarily ask for responsibility on such scale. What have the Government been doing at G20 level about these issues?
On a subsidiary point, the Financial Stability Board will obviously take an interest in this issue. Will the Minister tell me, or write to me to let me know, the members of the Financial Stability Board's council? I understand that Lord Turner is a member, but it is a bit of a shadowy organisation and there have been some questions, not necessarily about its integrity, but about who is involved, because obviously it has a role to play in this area, too.
Credit Rating Agencies
Proceeding contribution from
Chuka Umunna
(Labour)
in the House of Commons on Friday, 13 May 2011.
It occurred during Adjournment debate on Credit Rating Agencies.
Type
Proceeding contribution
Reference
527 c1542 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
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Timestamp
2023-12-15 16:18:47 +0000
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