Professor Hill Quoted in CQ Weekly

Professor Claire A. Hill was quoted in a story on the rating agencies' role in the subprime crisis. "In the end, the industry may be stuck playing a kind of catch-up with financial innovation," said Professor Hill, an expert on ratings. There is an incentive to develop instruments that promise bigger returns without an increase in risk. "Neither investors nor the ratings agencies looked at the new instruments with a sufficiently critical eye," Hill said.