Structured profits

Initiatives from Standard & Poor’s designed to bolster governance, checks and balances, and transparency could help restore a measure of confidence to the shell-shocked structured finance market. But the agency’s public service spin is a little disingenuous. The proposals are more about helping its profitable structured finance rating business recover. And while they may be helpful, S&P’s steps won’t make the rating firm really accountable to investors. The damage S&P is trying to repair is obvi...