Reed's Approach to Credit Rating Agencies Gets Play

Senator Christopher Dodd has unveiled his lengthy, long-awaited bill on overhauling a financial system that played a central role in the economic crash. The bill is sweeping in scope, but includes - among other things - significant segments of legislation Jack Reed submitted earlier this year cracking down on ratings agencies.

The agencies have come under fire for rosy ratings of exotic financial instruments at the center of the downturn.