How Can We Change the Way the Credit-Rating System Works

question 32

Essay

How can we change the way the credit-rating system works to avoid the problems encountered with ratings prior to the 2007-2009 financial crisis?

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Definitions:

Vocational Rehabilitation Act

A U.S. federal law enacted in 1973 designed to assist individuals with disabilities in obtaining and maintaining employment.

Affirmative Action

Policies and procedures designed to combat discrimination and promote diversity by favoring individuals belonging to groups historically discriminated against.

Reverse Discrimination

Discrimination against members of a dominant or majority group, often as an unintended consequence of affirmative action policies.

Disparate Treatment Discrimination

A form of discrimination where individuals are treated unfairly or differently based on protected characteristics such as race, gender, age, or religion.