REUTERS – Barely two weeks after the big subprime lender New Century Financial Corp went bankrupt, a top Standard & Poor's executive assured Congress that her employer could be counted on to sound the alarm for the next credit disaster. S&P ratings are "grounded in the cornerstone principles of independence, transparency, credibility and quality," resulting in a "long-standing track record of analytical excellence and objective commentary," Susan Barnes, managing director in charge of U.S. residential mortgage-backed securities (RMBS), testified. …
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