Rating agencies at core of lawmakers' grievances

An influential group of British members of parliament has slammed the big ratings agencies for their role in the subprime crisis.

The Treasury Select Committee, a group of 14 lawmakers, charged the agencies, which are responsible for assessing the risks associated with financial products, with endangering financial stability and said that it will enforce regulation if the industry fails to take appropriate action.

The committee also berated the banks for the "ludicrously complex" nature of som