id	sid	tid	token	lemma	pos
cblr-2899	1	1	rebuilding	rebuild	VERB
cblr-2899	1	2	the	the	DET
cblr-2899	1	3	fallen	fallen	ADJ
cblr-2899	1	4	house	house	NOUN
cblr-2899	1	5	of	of	ADP
cblr-2899	1	6	cards	card	NOUN
cblr-2899	1	7	:	:	PUNCT
cblr-2899	1	8	a	a	DET
cblr-2899	1	9	new	new	ADJ
cblr-2899	1	10	approach	approach	NOUN
cblr-2899	1	11	to	to	ADP
cblr-2899	1	12	regulating	regulate	VERB
cblr-2899	1	13	credit	credit	NOUN
cblr-2899	1	14	rating	rating	NOUN
cblr-2899	1	15	agencies	agency	NOUN
cblr-2899	1	16	rebuilding	rebuild	VERB
cblr-2899	1	17	the	the	DET
cblr-2899	1	18	fallen	fallen	ADJ
cblr-2899	1	19	house	house	NOUN
cblr-2899	1	20	of	of	ADP
cblr-2899	1	21	cards	card	NOUN
cblr-2899	1	22	:	:	PUNCT
cblr-2899	1	23	a	a	DET
cblr-2899	1	24	new	new	ADJ
cblr-2899	1	25	approach	approach	NOUN
cblr-2899	1	26	to	to	ADP
cblr-2899	1	27	regulating	regulate	VERB
cblr-2899	1	28	credit	credit	NOUN
cblr-2899	1	29	rating	rating	NOUN
cblr-2899	1	30	agencies	agency	NOUN
cblr-2899	1	31	olivia	olivia	PROPN
cblr-2899	1	32	schmid	schmid	PROPN
cblr-2899	1	33	*	*	PROPN
cblr-2899	1	34	the	the	DET
cblr-2899	1	35	financial	financial	ADJ
cblr-2899	1	36	crisis	crisis	NOUN
cblr-2899	1	37	highlighted	highlight	VERB
cblr-2899	1	38	key	key	ADJ
cblr-2899	1	39	problems	problem	NOUN
cblr-2899	1	40	in	in	ADP
cblr-2899	1	41	the	the	DET
cblr-2899	1	42	structure	structure	NOUN
cblr-2899	1	43	and	and	CCONJ
cblr-2899	1	44	business	business	NOUN
cblr-2899	1	45	model	model	NOUN
cblr-2899	1	46	of	of	ADP
cblr-2899	1	47	credit	credit	NOUN
cblr-2899	1	48	rating	rating	NOUN
cblr-2899	1	49	agencies	agency	NOUN
cblr-2899	1	50	(	(	PUNCT
cblr-2899	1	51	"	"	PUNCT
cblr-2899	1	52	cras	cras	X
cblr-2899	1	53	'	'	NUM
cblr-2899	1	54	)	)	PUNCT
cblr-2899	1	55	.	.	PUNCT
cblr-2899	2	1	with	with	ADP
cblr-2899	2	2	the	the	DET
cblr-2899	2	3	growth	growth	NOUN
cblr-2899	2	4	of	of	ADP
cblr-2899	2	5	securitization	securitization	NOUN
cblr-2899	2	6	and	and	CCONJ
cblr-2899	2	7	innovative	innovative	ADJ
cblr-2899	2	8	,	,	PUNCT
cblr-2899	2	9	structured	structured	ADJ
cblr-2899	2	10	finance	finance	NOUN
cblr-2899	2	11	products	product	NOUN
cblr-2899	2	12	,	,	PUNCT
cblr-2899	2	13	the	the	DET
cblr-2899	2	14	inherent	inherent	ADJ
cblr-2899	2	15	conflicts	conflict	NOUN
cblr-2899	2	16	of	of	ADP
cblr-2899	2	17	interest	interest	NOUN
cblr-2899	2	18	present	present	ADJ
cblr-2899	2	19	in	in	ADP
cblr-2899	2	20	the	the	DET
cblr-2899	2	21	issuer	issuer	NOUN
cblr-2899	2	22	-	-	PUNCT
cblr-2899	2	23	pays	pay	NOUN
cblr-2899	2	24	model	model	NOUN
cblr-2899	2	25	followed	follow	VERB
cblr-2899	2	26	by	by	ADP
cblr-2899	2	27	cras	cras	PROPN
cblr-2899	2	28	became	become	VERB
cblr-2899	2	29	even	even	ADV
cblr-2899	2	30	more	more	ADV
cblr-2899	2	31	problematic	problematic	ADJ
cblr-2899	2	32	,	,	PUNCT
cblr-2899	2	33	as	as	SCONJ
cblr-2899	2	34	rating	rating	NOUN
cblr-2899	2	35	agencies	agency	NOUN
cblr-2899	2	36	faced	face	VERB
cblr-2899	2	37	greater	great	ADJ
cblr-2899	2	38	competitive	competitive	ADJ
cblr-2899	2	39	pressures	pressure	NOUN
cblr-2899	2	40	to	to	PART
cblr-2899	2	41	appease	appease	VERB
cblr-2899	2	42	their	their	PRON
cblr-2899	2	43	clients	client	NOUN
cblr-2899	2	44	-	-	PUNCT
cblr-2899	2	45	the	the	DET
cblr-2899	2	46	issuers	issuer	NOUN
cblr-2899	2	47	of	of	ADP
cblr-2899	2	48	debt	debt	NOUN
cblr-2899	2	49	-	-	PUNCT
cblr-2899	2	50	than	than	SCONJ
cblr-2899	2	51	they	they	PRON
cblr-2899	2	52	did	do	VERB
cblr-2899	2	53	when	when	SCONJ
cblr-2899	2	54	they	they	PRON
cblr-2899	2	55	were	be	AUX
cblr-2899	2	56	rating	rate	VERB
cblr-2899	2	57	only	only	ADV
cblr-2899	2	58	corporate	corporate	ADJ
cblr-2899	2	59	bonds	bond	NOUN
cblr-2899	2	60	.	.	PUNCT
cblr-2899	3	1	both	both	CCONJ
cblr-2899	3	2	the	the	DET
cblr-2899	3	3	united	united	PROPN
cblr-2899	3	4	states	states	PROPN
cblr-2899	3	5	and	and	CCONJ
cblr-2899	3	6	the	the	DET
cblr-2899	3	7	eu	eu	PROPN
cblr-2899	3	8	responded	respond	VERB
cblr-2899	3	9	to	to	ADP
cblr-2899	3	10	these	these	DET
cblr-2899	3	11	concerns	concern	NOUN
cblr-2899	3	12	with	with	ADP
cblr-2899	3	13	enhanced	enhanced	ADJ
cblr-2899	3	14	regulation	regulation	NOUN
cblr-2899	3	15	.	.	PUNCT
cblr-2899	4	1	in	in	ADP
cblr-2899	4	2	the	the	DET
cblr-2899	4	3	dodd	dodd	PROPN
cblr-2899	4	4	-	-	PUNCT
cblr-2899	4	5	frank	frank	PROPN
cblr-2899	4	6	act	act	PROPN
cblr-2899	4	7	,	,	PUNCT
cblr-2899	4	8	the	the	DET
cblr-2899	4	9	united	united	PROPN
cblr-2899	4	10	states	states	PROPN
cblr-2899	4	11	mandated	mandate	VERB
cblr-2899	4	12	a	a	DET
cblr-2899	4	13	study	study	NOUN
cblr-2899	4	14	on	on	ADP
cblr-2899	4	15	the	the	DET
cblr-2899	4	16	advantages	advantage	NOUN
cblr-2899	4	17	of	of	ADP
cblr-2899	4	18	the	the	DET
cblr-2899	4	19	so	so	ADV
cblr-2899	4	20	-	-	PUNCT
cblr-2899	4	21	called	call	VERB
cblr-2899	4	22	"	"	PUNCT
cblr-2899	4	23	franken	franken	NOUN
cblr-2899	4	24	proposal	proposal	NOUN
cblr-2899	4	25	,	,	PUNCT
cblr-2899	4	26	"	"	PUNCT
cblr-2899	4	27	which	which	PRON
cblr-2899	4	28	would	would	AUX
cblr-2899	4	29	create	create	VERB
cblr-2899	4	30	a	a	DET
cblr-2899	4	31	centralized	centralized	ADJ
cblr-2899	4	32	government	government	NOUN
cblr-2899	4	33	platform	platform	NOUN
cblr-2899	4	34	to	to	PART
cblr-2899	4	35	assign	assign	VERB
cblr-2899	4	36	issuers	issuer	NOUN
cblr-2899	4	37	to	to	ADP
cblr-2899	4	38	rating	rating	NOUN
cblr-2899	4	39	agencies	agency	NOUN
cblr-2899	4	40	on	on	ADP
cblr-2899	4	41	a	a	DET
cblr-2899	4	42	randomized	randomized	ADJ
cblr-2899	4	43	basis	basis	NOUN
cblr-2899	4	44	.	.	PUNCT
cblr-2899	5	1	this	this	DET
cblr-2899	5	2	note	note	NOUN
cblr-2899	5	3	evaluates	evaluate	VERB
cblr-2899	5	4	the	the	DET
cblr-2899	5	5	franken	franken	PROPN
cblr-2899	5	6	proposal	proposal	NOUN
cblr-2899	5	7	and	and	CCONJ
cblr-2899	5	8	its	its	PRON
cblr-2899	5	9	alternatives	alternative	NOUN
cblr-2899	5	10	,	,	PUNCT
cblr-2899	5	11	rejecting	reject	VERB
cblr-2899	5	12	them	they	PRON
cblr-2899	5	13	in	in	ADP
cblr-2899	5	14	favor	favor	NOUN
cblr-2899	5	15	of	of	ADP
cblr-2899	5	16	a	a	DET
cblr-2899	5	17	new	new	ADJ
cblr-2899	5	18	proposal	proposal	NOUN
cblr-2899	5	19	,	,	PUNCT
cblr-2899	5	20	which	which	PRON
cblr-2899	5	21	consists	consist	VERB
cblr-2899	5	22	of	of	ADP
cblr-2899	5	23	three	three	NUM
cblr-2899	5	24	primary	primary	ADJ
cblr-2899	5	25	elements	element	NOUN
cblr-2899	5	26	:	:	PUNCT
cblr-2899	5	27	(	(	PUNCT
cblr-2899	5	28	1	1	X
cblr-2899	5	29	)	)	PUNCT
cblr-2899	5	30	a	a	DET
cblr-2899	5	31	requirement	requirement	NOUN
cblr-2899	5	32	that	that	SCONJ
cblr-2899	5	33	issuers	issuer	NOUN
cblr-2899	5	34	obtain	obtain	VERB
cblr-2899	5	35	a	a	DET
cblr-2899	5	36	vote	vote	NOUN
cblr-2899	5	37	from	from	ADP
cblr-2899	5	38	their	their	PRON
cblr-2899	5	39	largest	large	ADJ
cblr-2899	5	40	institutional	institutional	ADJ
cblr-2899	5	41	investors	investor	NOUN
cblr-2899	5	42	,	,	PUNCT
cblr-2899	5	43	the	the	DET
cblr-2899	5	44	outcome	outcome	NOUN
cblr-2899	5	45	of	of	ADP
cblr-2899	5	46	which	which	PRON
cblr-2899	5	47	would	would	AUX
cblr-2899	5	48	determine	determine	VERB
cblr-2899	5	49	which	which	DET
cblr-2899	5	50	cra	cra	VERB
cblr-2899	5	51	the	the	DET
cblr-2899	5	52	issuer	issuer	NOUN
cblr-2899	5	53	hires	hire	NOUN
cblr-2899	5	54	;	;	PUNCT
cblr-2899	5	55	(	(	PUNCT
cblr-2899	5	56	2	2	X
cblr-2899	5	57	)	)	PUNCT
cblr-2899	5	58	the	the	DET
cblr-2899	5	59	creation	creation	NOUN
cblr-2899	5	60	of	of	ADP
cblr-2899	5	61	a	a	DET
cblr-2899	5	62	governmental	governmental	ADJ
cblr-2899	5	63	agency	agency	NOUN
cblr-2899	5	64	or	or	CCONJ
cblr-2899	5	65	a	a	DET
cblr-2899	5	66	selfregulatory	selfregulatory	ADJ
cblr-2899	5	67	organization	organization	NOUN
cblr-2899	5	68	that	that	PRON
cblr-2899	5	69	evaluates	evaluate	VERB
cblr-2899	5	70	and	and	CCONJ
cblr-2899	5	71	ranks	rank	VERB
cblr-2899	5	72	the	the	DET
cblr-2899	5	73	performance	performance	NOUN
cblr-2899	5	74	of	of	ADP
cblr-2899	5	75	individual	individual	ADJ
cblr-2899	5	76	cras	cra	NOUN
cblr-2899	5	77	;	;	PUNCT
cblr-2899	5	78	and	and	CCONJ
cblr-2899	5	79	(	(	PUNCT
cblr-2899	5	80	3	3	X
cblr-2899	5	81	)	)	PUNCT
cblr-2899	5	82	a	a	DET
cblr-2899	5	83	requirement	requirement	NOUN
cblr-2899	5	84	that	that	SCONJ
cblr-2899	5	85	issuers	issuer	NOUN
cblr-2899	5	86	obtain	obtain	VERB
cblr-2899	5	87	a	a	DET
cblr-2899	5	88	second	second	ADJ
cblr-2899	5	89	rating	rating	NOUN
cblr-2899	5	90	from	from	ADP
cblr-2899	5	91	a	a	DET
cblr-2899	5	92	better	well	ADV
cblr-2899	5	93	-	-	PUNCT
cblr-2899	5	94	performing	perform	VERB
cblr-2899	5	95	cra	cra	PROPN
cblr-2899	5	96	*	*	PUNCT
cblr-2899	5	97	j.d	j.d	PROPN
cblr-2899	5	98	.	.	PROPN
cblr-2899	5	99	candidate	candidate	NOUN
cblr-2899	5	100	2013	2013	NUM
cblr-2899	5	101	,	,	PUNCT
cblr-2899	5	102	columbia	columbia	PROPN
cblr-2899	5	103	law	law	PROPN
cblr-2899	5	104	school	school	NOUN
cblr-2899	5	105	;	;	PUNCT
cblr-2899	5	106	b.a	b.a	PROPN
cblr-2899	5	107	.	.	PROPN
cblr-2899	5	108	economics	economics	PROPN
cblr-2899	5	109	2010	2010	NUM
cblr-2899	5	110	,	,	PUNCT
cblr-2899	5	111	columbia	columbia	PROPN
cblr-2899	5	112	college	college	PROPN
cblr-2899	5	113	.	.	PUNCT
cblr-2899	6	1	the	the	DET
cblr-2899	6	2	author	author	NOUN
cblr-2899	6	3	would	would	AUX
cblr-2899	6	4	like	like	VERB
cblr-2899	6	5	to	to	PART
cblr-2899	6	6	extend	extend	VERB
cblr-2899	6	7	her	her	PRON
cblr-2899	6	8	thanks	thank	NOUN
cblr-2899	6	9	to	to	ADP
cblr-2899	6	10	professor	professor	PROPN
cblr-2899	6	11	edward	edward	PROPN
cblr-2899	6	12	greene	greene	PROPN
cblr-2899	6	13	for	for	ADP
cblr-2899	6	14	all	all	PRON
cblr-2899	6	15	of	of	ADP
cblr-2899	6	16	his	his	PRON
cblr-2899	6	17	thoughtful	thoughtful	ADJ
cblr-2899	6	18	insights	insight	NOUN
cblr-2899	6	19	and	and	CCONJ
cblr-2899	6	20	his	his	PRON
cblr-2899	6	21	muchappreciated	muchappreciated	ADJ
cblr-2899	6	22	guidance	guidance	NOUN
cblr-2899	6	23	.	.	PUNCT
cblr-2899	7	1	the	the	DET
cblr-2899	7	2	author	author	NOUN
cblr-2899	7	3	would	would	AUX
cblr-2899	7	4	also	also	ADV
cblr-2899	7	5	like	like	VERB
cblr-2899	7	6	to	to	PART
cblr-2899	7	7	thank	thank	VERB
cblr-2899	7	8	her	her	PRON
cblr-2899	7	9	mother	mother	NOUN
cblr-2899	7	10	,	,	PUNCT
cblr-2899	7	11	ziva	ziva	PROPN
cblr-2899	7	12	schmid	schmid	PROPN
cblr-2899	7	13	,	,	PUNCT
cblr-2899	7	14	for	for	ADP
cblr-2899	7	15	her	her	PRON
cblr-2899	7	16	support	support	NOUN
cblr-2899	7	17	and	and	CCONJ
cblr-2899	7	18	helpful	helpful	ADJ
cblr-2899	7	19	ideas	idea	NOUN
cblr-2899	7	20	.	.	PUNCT
cblr-2899	8	1	deep	deep	ADJ
cblr-2899	8	2	gratitude	gratitude	NOUN
cblr-2899	8	3	also	also	ADV
cblr-2899	8	4	extends	extend	VERB
cblr-2899	8	5	to	to	ADP
cblr-2899	8	6	all	all	DET
cblr-2899	8	7	staff	staff	NOUN
cblr-2899	8	8	and	and	CCONJ
cblr-2899	8	9	board	board	NOUN
cblr-2899	8	10	members	member	NOUN
cblr-2899	8	11	of	of	ADP
cblr-2899	8	12	the	the	DET
cblr-2899	8	13	columbia	columbia	PROPN
cblr-2899	8	14	business	business	PROPN
cblr-2899	8	15	law	law	PROPN
cblr-2899	8	16	review	review	NOUN
cblr-2899	8	17	for	for	ADP
cblr-2899	8	18	their	their	PRON
cblr-2899	8	19	helpful	helpful	ADJ
cblr-2899	8	20	feedback	feedback	NOUN
cblr-2899	8	21	and	and	CCONJ
cblr-2899	8	22	editorial	editorial	ADJ
cblr-2899	8	23	assistance	assistance	NOUN
cblr-2899	8	24	with	with	ADP
cblr-2899	8	25	this	this	DET
cblr-2899	8	26	note	note	NOUN
cblr-2899	8	27	.	.	PUNCT
cblr-2899	9	1	when	when	SCONJ
cblr-2899	9	2	they	they	PRON
cblr-2899	9	3	choose	choose	VERB
cblr-2899	9	4	to	to	PART
cblr-2899	9	5	hire	hire	VERB
cblr-2899	9	6	one	one	NUM
cblr-2899	9	7	whose	whose	DET
cblr-2899	9	8	performance	performance	NOUN
cblr-2899	9	9	has	have	AUX
cblr-2899	9	10	proven	prove	VERB
cblr-2899	9	11	inadequate	inadequate	ADJ
cblr-2899	9	12	for	for	ADP
cblr-2899	9	13	a	a	DET
cblr-2899	9	14	particular	particular	ADJ
cblr-2899	9	15	asset	asset	NOUN
cblr-2899	9	16	class	class	NOUN
cblr-2899	9	17	.	.	PUNCT
cblr-2899	10	1	requiring	require	VERB
cblr-2899	10	2	issuers	issuer	NOUN
cblr-2899	10	3	to	to	PART
cblr-2899	10	4	hire	hire	VERB
cblr-2899	10	5	a	a	DET
cblr-2899	10	6	rating	rating	NOUN
cblr-2899	10	7	agency	agency	NOUN
cblr-2899	10	8	chosen	choose	VERB
cblr-2899	10	9	by	by	ADP
cblr-2899	10	10	voting	vote	VERB
cblr-2899	10	11	investors	investor	NOUN
cblr-2899	10	12	ensures	ensure	VERB
cblr-2899	10	13	that	that	SCONJ
cblr-2899	10	14	cras	cras	PROPN
cblr-2899	10	15	will	will	AUX
cblr-2899	10	16	compete	compete	VERB
cblr-2899	10	17	for	for	ADP
cblr-2899	10	18	the	the	DET
cblr-2899	10	19	favor	favor	NOUN
cblr-2899	10	20	of	of	ADP
cblr-2899	10	21	investors	investor	NOUN
cblr-2899	10	22	rather	rather	ADV
cblr-2899	10	23	than	than	ADP
cblr-2899	10	24	the	the	DET
cblr-2899	10	25	conflicted	conflicted	ADJ
cblr-2899	10	26	issuers	issuer	NOUN
cblr-2899	10	27	.	.	PUNCT
cblr-2899	11	1	to	to	PART
cblr-2899	11	2	help	help	VERB
cblr-2899	11	3	investors	investor	NOUN
cblr-2899	11	4	make	make	VERB
cblr-2899	11	5	educated	educated	ADJ
cblr-2899	11	6	voting	voting	NOUN
cblr-2899	11	7	decisions	decision	NOUN
cblr-2899	11	8	,	,	PUNCT
cblr-2899	11	9	a	a	DET
cblr-2899	11	10	ranking	ranking	NOUN
cblr-2899	11	11	of	of	ADP
cblr-2899	11	12	rating	rating	NOUN
cblr-2899	11	13	agency	agency	NOUN
cblr-2899	11	14	performance	performance	NOUN
cblr-2899	11	15	will	will	AUX
cblr-2899	11	16	give	give	VERB
cblr-2899	11	17	investors	investor	NOUN
cblr-2899	11	18	standardized	standardized	ADJ
cblr-2899	11	19	information	information	NOUN
cblr-2899	11	20	about	about	ADP
cblr-2899	11	21	the	the	DET
cblr-2899	11	22	quality	quality	NOUN
cblr-2899	11	23	of	of	ADP
cblr-2899	11	24	the	the	DET
cblr-2899	11	25	cras	cras	X
cblr-2899	11	26	.	.	PUNCT
cblr-2899	12	1	by	by	ADP
cblr-2899	12	2	requiring	require	VERB
cblr-2899	12	3	issuers	issuer	NOUN
cblr-2899	12	4	who	who	PRON
cblr-2899	12	5	initially	initially	ADV
cblr-2899	12	6	purchase	purchase	VERB
cblr-2899	12	7	a	a	DET
cblr-2899	12	8	rating	rating	NOUN
cblr-2899	12	9	from	from	ADP
cblr-2899	12	10	a	a	DET
cblr-2899	12	11	low	low	ADV
cblr-2899	12	12	-	-	PUNCT
cblr-2899	12	13	performing	perform	VERB
cblr-2899	12	14	cra	cra	NOUN
cblr-2899	12	15	to	to	PART
cblr-2899	12	16	buy	buy	VERB
cblr-2899	12	17	a	a	DET
cblr-2899	12	18	second	second	ADJ
cblr-2899	12	19	rating	rating	NOUN
cblr-2899	12	20	from	from	ADP
cblr-2899	12	21	a	a	DET
cblr-2899	12	22	better	well	ADV
cblr-2899	12	23	-	-	PUNCT
cblr-2899	12	24	performing	perform	VERB
cblr-2899	12	25	cra	cra	NOUN
cblr-2899	12	26	,	,	PUNCT
cblr-2899	12	27	the	the	DET
cblr-2899	12	28	penalty	penalty	NOUN
cblr-2899	12	29	provision	provision	NOUN
cblr-2899	12	30	ensures	ensure	VERB
cblr-2899	12	31	that	that	SCONJ
cblr-2899	12	32	business	business	NOUN
cblr-2899	12	33	will	will	AUX
cblr-2899	12	34	be	be	AUX
cblr-2899	12	35	diverted	divert	VERB
cblr-2899	12	36	to	to	ADP
cblr-2899	12	37	the	the	DET
cblr-2899	12	38	most	most	ADV
cblr-2899	12	39	efficient	efficient	ADJ
cblr-2899	12	40	rating	rating	NOUN
cblr-2899	12	41	agencies	agency	NOUN
cblr-2899	12	42	.	.	PUNCT
cblr-2899	13	1	this	this	DET
cblr-2899	13	2	note	note	NOUN
cblr-2899	13	3	concludes	conclude	VERB
cblr-2899	13	4	that	that	SCONJ
cblr-2899	13	5	the	the	DET
cblr-2899	13	6	new	new	ADJ
cblr-2899	13	7	proposal	proposal	NOUN
cblr-2899	13	8	is	be	AUX
cblr-2899	13	9	therefore	therefore	ADV
cblr-2899	13	10	a	a	DET
cblr-2899	13	11	better	well	ADJ
cblr-2899	13	12	solution	solution	NOUN
cblr-2899	13	13	than	than	ADP
cblr-2899	13	14	the	the	DET
cblr-2899	13	15	franken	franken	PROPN
cblr-2899	13	16	proposal	proposal	NOUN
cblr-2899	13	17	for	for	ADP
cblr-2899	13	18	the	the	DET
cblr-2899	13	19	conflict	conflict	NOUN
cblr-2899	13	20	of	of	ADP
cblr-2899	13	21	interest	interest	NOUN
cblr-2899	13	22	problem	problem	NOUN
cblr-2899	13	23	faced	face	VERB
cblr-2899	13	24	by	by	ADP
cblr-2899	13	25	cras	cras	PROPN
cblr-2899	13	26	.	.	PUNCT
cblr-2899	14	1	i.	i.	PROPN
cblr-2899	14	2	introduction	introduction	NOUN
cblr-2899	14	3	.............................	.............................	PUNCT
cblr-2899	15	1	996	996	NUM
cblr-2899	15	2	ii	ii	NOUN
cblr-2899	15	3	.	.	PUNCT
cblr-2899	15	4	value	value	NOUN
cblr-2899	15	5	of	of	ADP
cblr-2899	15	6	cras	cras	PROPN
cblr-2899	15	7	:	:	PUNCT
cblr-2899	15	8	why	why	SCONJ
cblr-2899	15	9	we	we	PRON
cblr-2899	15	10	have	have	VERB
cblr-2899	15	11	them	they	PRON
cblr-2899	15	12	in	in	ADP
cblr-2899	15	13	the	the	DET
cblr-2899	15	14	first	first	ADJ
cblr-2899	15	15	place	place	NOUN
cblr-2899	15	16	.........	.........	PUNCT
cblr-2899	15	17	.	.	PUNCT
cblr-2899	15	18	..................	..................	PUNCT
cblr-2899	16	1	......	......	PUNCT
cblr-2899	16	2	999	999	NUM
cblr-2899	16	3	iii	iii	NOUN
cblr-2899	16	4	.	.	PUNCT
cblr-2899	17	1	how	how	SCONJ
cblr-2899	17	2	cras	cras	PROPN
cblr-2899	17	3	facilitated	facilitate	VERB
cblr-2899	17	4	the	the	DET
cblr-2899	17	5	financial	financial	ADJ
cblr-2899	17	6	crisis	crisis	NOUN
cblr-2899	17	7	.............	.............	PUNCT
cblr-2899	17	8	1000	1000	NUM
cblr-2899	17	9	a.	a.	NOUN
cblr-2899	17	10	the	the	DET
cblr-2899	17	11	issuer	issuer	NOUN
cblr-2899	17	12	-	-	PUNCT
cblr-2899	17	13	pays	pay	NOUN
cblr-2899	17	14	model	model	NOUN
cblr-2899	17	15	and	and	CCONJ
cblr-2899	17	16	conflicts	conflict	NOUN
cblr-2899	17	17	of	of	ADP
cblr-2899	17	18	interest	interest	NOUN
cblr-2899	17	19	.	.	PUNCT
cblr-2899	18	1	........................	........................	PUNCT
cblr-2899	19	1	.....	.....	PUNCT
cblr-2899	20	1	1000	1000	NUM
cblr-2899	20	2	b.	b.	NOUN
cblr-2899	20	3	growth	growth	NOUN
cblr-2899	20	4	of	of	ADP
cblr-2899	20	5	securitization	securitization	NOUN
cblr-2899	20	6	and	and	CCONJ
cblr-2899	20	7	structured	structured	ADJ
cblr-2899	20	8	finance	finance	NOUN
cblr-2899	20	9	products	product	NOUN
cblr-2899	20	10	................	................	PUNCT
cblr-2899	20	11	......	......	PUNCT
cblr-2899	20	12	1002	1002	NUM
cblr-2899	20	13	c.	c.	PROPN
cblr-2899	20	14	regulatory	regulatory	PROPN
cblr-2899	20	15	licensing	licensing	NOUN
cblr-2899	20	16	...............	...............	PUNCT
cblr-2899	20	17	.....	.....	PUNCT
cblr-2899	21	1	1005	1005	NUM
cblr-2899	21	2	d.	d.	NOUN
cblr-2899	21	3	lack	lack	NOUN
cblr-2899	21	4	of	of	ADP
cblr-2899	21	5	due	due	ADJ
cblr-2899	21	6	diligence	diligence	NOUN
cblr-2899	21	7	............	............	PUNCT
cblr-2899	21	8	.........	.........	PUNCT
cblr-2899	22	1	1007	1007	NUM
cblr-2899	22	2	e.	e.	PROPN
cblr-2899	22	3	weak	weak	ADJ
cblr-2899	22	4	incentives	incentive	NOUN
cblr-2899	22	5	to	to	PART
cblr-2899	22	6	provide	provide	VERB
cblr-2899	22	7	current	current	ADJ
cblr-2899	22	8	information	information	NOUN
cblr-2899	22	9	....................	....................	PUNCT
cblr-2899	22	10	......	......	PUNCT
cblr-2899	23	1	1008	1008	NUM
cblr-2899	23	2	f.	f.	PROPN
cblr-2899	23	3	immunity	immunity	NOUN
cblr-2899	23	4	from	from	ADP
cblr-2899	23	5	liability	liability	NOUN
cblr-2899	23	6	................	................	PUNCT
cblr-2899	23	7	1009	1009	NUM
cblr-2899	23	8	iv	iv	NOUN
cblr-2899	23	9	.	.	PUNCT
cblr-2899	24	1	regulatory	regulatory	ADJ
cblr-2899	24	2	approaches	approach	NOUN
cblr-2899	24	3	...........	...........	PUNCT
cblr-2899	24	4	..........	..........	PUNCT
cblr-2899	24	5	1009	1009	NUM
cblr-2899	24	6	a.	a.	NOUN
cblr-2899	24	7	the	the	DET
cblr-2899	24	8	united	united	PROPN
cblr-2899	24	9	states	states	PROPN
cblr-2899	24	10	..	..	PUNCT
cblr-2899	24	11	...................	...................	PUNCT
cblr-2899	25	1	1009	1009	NUM
cblr-2899	25	2	b.	b.	X
cblr-2899	25	3	the	the	DET
cblr-2899	25	4	european	european	PROPN
cblr-2899	25	5	union	union	PROPN
cblr-2899	25	6	.............	.............	PUNCT
cblr-2899	25	7	.........	.........	PUNCT
cblr-2899	25	8	1014	1014	NUM
cblr-2899	25	9	c.	c.	PROPN
cblr-2899	25	10	similarities	similarity	NOUN
cblr-2899	25	11	and	and	CCONJ
cblr-2899	25	12	differences	difference	NOUN
cblr-2899	25	13	....	....	PUNCT
cblr-2899	25	14	..	..	PUNCT
cblr-2899	26	1	.........	.........	PUNCT
cblr-2899	26	2	1016	1016	NUM
cblr-2899	26	3	v.	v.	ADP
cblr-2899	26	4	the	the	DET
cblr-2899	26	5	conflict	conflict	NOUN
cblr-2899	26	6	of	of	ADP
cblr-2899	26	7	interest	interest	NOUN
cblr-2899	26	8	problem	problem	NOUN
cblr-2899	26	9	and	and	CCONJ
cblr-2899	26	10	the	the	DET
cblr-2899	26	11	franken	franken	PROPN
cblr-2899	26	12	proposal	proposal	NOUN
cblr-2899	26	13	.	.	PUNCT
cblr-2899	27	1	.........................	.........................	PUNCT
cblr-2899	28	1	......	......	PUNCT
cblr-2899	28	2	1018	1018	NUM
cblr-2899	28	3	vi	vi	X
cblr-2899	28	4	.	.	PUNCT
cblr-2899	28	5	potential	potential	ADJ
cblr-2899	28	6	alternatives	alternative	NOUN
cblr-2899	28	7	to	to	ADP
cblr-2899	28	8	the	the	DET
cblr-2899	28	9	franken	franken	PROPN
cblr-2899	28	10	proposal	proposal	PROPN
cblr-2899	28	11	.....	.....	PROPN
cblr-2899	28	12	1022	1022	NUM
cblr-2899	28	13	a.	a.	NOUN
cblr-2899	28	14	government	government	NOUN
cblr-2899	28	15	rating	rating	NOUN
cblr-2899	28	16	agency	agency	NOUN
cblr-2899	28	17	..............	..............	PROPN
cblr-2899	29	1	1022	1022	NUM
cblr-2899	29	2	b.	b.	PROPN
cblr-2899	29	3	return	return	NOUN
cblr-2899	29	4	to	to	ADP
cblr-2899	29	5	investor	investor	NOUN
cblr-2899	29	6	-	-	PUNCT
cblr-2899	29	7	pays	pay	NOUN
cblr-2899	29	8	model	model	NOUN
cblr-2899	29	9	.......	.......	PUNCT
cblr-2899	29	10	.....	.....	PUNCT
cblr-2899	29	11	1023	1023	NUM
cblr-2899	29	12	c.	c.	NOUN
cblr-2899	29	13	sanctions	sanction	NOUN
cblr-2899	29	14	.......................	.......................	PUNCT
cblr-2899	29	15	.....	.....	PUNCT
cblr-2899	30	1	1026	1026	NUM
cblr-2899	30	2	vii	vii	PROPN
cblr-2899	30	3	.	.	PUNCT
cblr-2899	31	1	a	a	DET
cblr-2899	31	2	new	new	ADJ
cblr-2899	31	3	proposal	proposal	NOUN
cblr-2899	31	4	.	.	PUNCT
cblr-2899	31	5	.....................	.....................	PUNCT
cblr-2899	32	1	.....	.....	PUNCT
cblr-2899	32	2	1029	1029	NUM
cblr-2899	32	3	995no	995no	NOUN
cblr-2899	32	4	.	.	PUNCT
cblr-2899	33	1	3:994]1	3:994]1	NUM
cblr-2899	33	2	reg	reg	NOUN
cblr-2899	33	3	ula	ula	PROPN
cblr-2899	33	4	ting	ting	PROPN
cblr-2899	33	5	credit	credit	PROPN
cblr-2899	33	6	ra	ra	PROPN
cblr-2899	33	7	ting	te	VERB
cblr-2899	33	8	a	a	DET
cblr-2899	33	9	gencies	gencie	NOUN
cblr-2899	33	10	a.	a.	NOUN
cblr-2899	33	11	vote	vote	NOUN
cblr-2899	33	12	of	of	ADP
cblr-2899	33	13	the	the	DET
cblr-2899	33	14	largest	large	ADJ
cblr-2899	33	15	institutional	institutional	ADJ
cblr-2899	33	16	investors	investor	NOUN
cblr-2899	33	17	......	......	PUNCT
cblr-2899	33	18	1029	1029	NUM
cblr-2899	33	19	b.	b.	PROPN
cblr-2899	33	20	a	a	DET
cblr-2899	33	21	rater	rater	NOUN
cblr-2899	33	22	of	of	ADP
cblr-2899	33	23	rating	rating	NOUN
cblr-2899	33	24	agencies	agency	NOUN
cblr-2899	33	25	...............	...............	PUNCT
cblr-2899	33	26	1033	1033	NUM
cblr-2899	33	27	c.	c.	NOUN
cblr-2899	33	28	purchase	purchase	NOUN
cblr-2899	33	29	of	of	ADP
cblr-2899	33	30	an	an	DET
cblr-2899	33	31	additional	additional	ADJ
cblr-2899	33	32	rating	rating	NOUN
cblr-2899	33	33	when	when	SCONJ
cblr-2899	33	34	hiring	hire	VERB
cblr-2899	33	35	a	a	DET
cblr-2899	33	36	low	low	ADJ
cblr-2899	33	37	performing	perform	VERB
cblr-2899	33	38	cra	cra	NOUN
cblr-2899	33	39	....................	....................	SYM
cblr-2899	33	40	1039	1039	NUM
cblr-2899	33	41	d.	d.	PROPN
cblr-2899	33	42	a	a	DET
cblr-2899	33	43	key	key	ADJ
cblr-2899	33	44	difference	difference	NOUN
cblr-2899	33	45	between	between	ADP
cblr-2899	33	46	the	the	DET
cblr-2899	33	47	new	new	ADJ
cblr-2899	33	48	proposal	proposal	NOUN
cblr-2899	33	49	and	and	CCONJ
cblr-2899	33	50	the	the	DET
cblr-2899	33	51	franken	franken	PROPN
cblr-2899	33	52	proposal	proposal	NOUN
cblr-2899	33	53	..........	..........	PUNCT
cblr-2899	34	1	.....	.....	PUNCT
cblr-2899	34	2	1044	1044	NUM
cblr-2899	34	3	viii	viii	NOUN
cblr-2899	34	4	.	.	PUNCT
cblr-2899	35	1	conclusion	conclusion	NOUN
cblr-2899	35	2	...........................	...........................	PUNCT
cblr-2899	35	3	1044	1044	NUM
cblr-2899	35	4	i.	i.	PROPN
cblr-2899	35	5	introduction	introduction	NOUN
cblr-2899	35	6	"	"	PUNCT
cblr-2899	35	7	[	[	X
cblr-2899	35	8	r]ating	r]ating	NOUN
cblr-2899	35	9	agencies	agency	NOUN
cblr-2899	35	10	continue	continue	VERB
cblr-2899	35	11	to	to	PART
cblr-2899	35	12	create	create	VERB
cblr-2899	35	13	an	an	DET
cblr-2899	35	14	'	'	PUNCT
cblr-2899	35	15	even	even	ADV
cblr-2899	35	16	bigger	big	ADJ
cblr-2899	35	17	monster	monster	NOUN
cblr-2899	35	18	-	-	PUNCT
cblr-2899	35	19	the	the	DET
cblr-2899	35	20	cdo	cdo	ADJ
cblr-2899	35	21	market	market	NOUN
cblr-2899	35	22	.	.	PUNCT
cblr-2899	35	23	'	'	PUNCT
cblr-2899	36	1	let	let	VERB
cblr-2899	36	2	's	us	PRON
cblr-2899	36	3	hope	hope	VERB
cblr-2899	36	4	we	we	PRON
cblr-2899	36	5	are	be	AUX
cblr-2899	36	6	all	all	ADV
cblr-2899	36	7	wealthy	wealthy	ADJ
cblr-2899	36	8	and	and	CCONJ
cblr-2899	36	9	retired	retire	VERB
cblr-2899	36	10	by	by	ADP
cblr-2899	36	11	the	the	DET
cblr-2899	36	12	time	time	NOUN
cblr-2899	36	13	this	this	DET
cblr-2899	36	14	house	house	NOUN
cblr-2899	36	15	of	of	ADP
cblr-2899	36	16	cards	card	NOUN
cblr-2899	36	17	falters	falter	VERB
cblr-2899	36	18	.	.	PUNCT
cblr-2899	37	1	"	"	PUNCT
cblr-2899	37	2	'	'	PUNCT
cblr-2899	37	3	now	now	ADV
cblr-2899	37	4	that	that	SCONJ
cblr-2899	37	5	the	the	DET
cblr-2899	37	6	house	house	NOUN
cblr-2899	37	7	has	have	AUX
cblr-2899	37	8	fallen	fall	VERB
cblr-2899	37	9	,	,	PUNCT
cblr-2899	37	10	what	what	PRON
cblr-2899	37	11	do	do	AUX
cblr-2899	37	12	we	we	PRON
cblr-2899	37	13	do	do	VERB
cblr-2899	37	14	?	?	PUNCT
cblr-2899	38	1	greed	greed	NOUN
cblr-2899	38	2	,	,	PUNCT
cblr-2899	38	3	speculation	speculation	NOUN
cblr-2899	38	4	,	,	PUNCT
cblr-2899	38	5	deregulation	deregulation	NOUN
cblr-2899	38	6	,	,	PUNCT
cblr-2899	38	7	highly	highly	ADV
cblr-2899	38	8	complex	complex	ADJ
cblr-2899	38	9	financial	financial	ADJ
cblr-2899	38	10	products	product	NOUN
cblr-2899	38	11	,	,	PUNCT
cblr-2899	38	12	and	and	CCONJ
cblr-2899	38	13	cheap	cheap	ADJ
cblr-2899	38	14	money	money	NOUN
cblr-2899	38	15	flowing	flow	VERB
cblr-2899	38	16	from	from	ADP
cblr-2899	38	17	china	china	PROPN
cblr-2899	38	18	's	's	PART
cblr-2899	38	19	large	large	ADJ
cblr-2899	38	20	holdings	holding	NOUN
cblr-2899	38	21	of	of	ADP
cblr-2899	38	22	u.s	u.s	PROPN
cblr-2899	38	23	.	.	PROPN
cblr-2899	38	24	debt	debt	NOUN
cblr-2899	38	25	-	-	PUNCT
cblr-2899	38	26	these	these	DET
cblr-2899	38	27	factors	factor	NOUN
cblr-2899	38	28	punctured	puncture	VERB
cblr-2899	38	29	a	a	DET
cblr-2899	38	30	hole	hole	NOUN
cblr-2899	38	31	in	in	ADP
cblr-2899	38	32	the	the	DET
cblr-2899	38	33	american	american	ADJ
cblr-2899	38	34	economic	economic	ADJ
cblr-2899	38	35	system	system	NOUN
cblr-2899	38	36	leading	lead	VERB
cblr-2899	38	37	to	to	ADP
cblr-2899	38	38	the	the	DET
cblr-2899	38	39	global	global	ADJ
cblr-2899	38	40	financial	financial	ADJ
cblr-2899	38	41	crisis	crisis	NOUN
cblr-2899	38	42	.	.	PUNCT
cblr-2899	39	1	one	one	NUM
cblr-2899	39	2	major	major	ADJ
cblr-2899	39	3	link	link	NOUN
cblr-2899	39	4	in	in	ADP
cblr-2899	39	5	the	the	DET
cblr-2899	39	6	chain	chain	NOUN
cblr-2899	39	7	of	of	ADP
cblr-2899	39	8	destructive	destructive	ADJ
cblr-2899	39	9	events	event	NOUN
cblr-2899	39	10	leading	lead	VERB
cblr-2899	39	11	to	to	ADP
cblr-2899	39	12	the	the	DET
cblr-2899	39	13	crisis	crisis	NOUN
cblr-2899	39	14	was	be	AUX
cblr-2899	39	15	the	the	DET
cblr-2899	39	16	credit	credit	NOUN
cblr-2899	39	17	rating	rating	NOUN
cblr-2899	39	18	industry	industry	NOUN
cblr-2899	39	19	.	.	PUNCT
cblr-2899	40	1	indeed	indeed	ADV
cblr-2899	40	2	,	,	PUNCT
cblr-2899	40	3	the	the	DET
cblr-2899	40	4	industry	industry	NOUN
cblr-2899	40	5	's	's	PART
cblr-2899	40	6	failure	failure	NOUN
cblr-2899	40	7	to	to	PART
cblr-2899	40	8	identify	identify	VERB
cblr-2899	40	9	and	and	CCONJ
cblr-2899	40	10	expose	expose	VERB
cblr-2899	40	11	risk	risk	NOUN
cblr-2899	40	12	made	make	VERB
cblr-2899	40	13	credit	credit	NOUN
cblr-2899	40	14	rating	rating	NOUN
cblr-2899	40	15	agencies	agency	NOUN
cblr-2899	40	16	(	(	PUNCT
cblr-2899	40	17	"	"	PUNCT
cblr-2899	40	18	cras	cras	X
cblr-2899	40	19	"	"	PUNCT
cblr-2899	40	20	)	)	PUNCT
cblr-2899	40	21	an	an	DET
cblr-2899	40	22	easy	easy	ADJ
cblr-2899	40	23	target	target	NOUN
cblr-2899	40	24	to	to	PART
cblr-2899	40	25	blame	blame	VERB
cblr-2899	40	26	.	.	PUNCT
cblr-2899	41	1	statistics	statistic	NOUN
cblr-2899	41	2	show	show	VERB
cblr-2899	41	3	there	there	PRON
cblr-2899	41	4	were	be	VERB
cblr-2899	41	5	several	several	ADJ
cblr-2899	41	6	indicators	indicator	NOUN
cblr-2899	41	7	that	that	PRON
cblr-2899	41	8	should	should	AUX
cblr-2899	41	9	have	have	AUX
cblr-2899	41	10	put	put	VERB
cblr-2899	41	11	cras	cra	NOUN
cblr-2899	41	12	on	on	ADP
cblr-2899	41	13	notice	notice	NOUN
cblr-2899	41	14	of	of	ADP
cblr-2899	41	15	higher	high	ADJ
cblr-2899	41	16	default	default	NOUN
cblr-2899	41	17	probabilities	probability	NOUN
cblr-2899	41	18	before	before	ADP
cblr-2899	41	19	the	the	DET
cblr-2899	41	20	end	end	NOUN
cblr-2899	41	21	of	of	ADP
cblr-2899	41	22	2006	2006	NUM
cblr-2899	41	23	,	,	PUNCT
cblr-2899	41	24	when	when	SCONJ
cblr-2899	41	25	the	the	DET
cblr-2899	41	26	first	first	ADJ
cblr-2899	41	27	major	major	ADJ
cblr-2899	41	28	wave	wave	NOUN
cblr-2899	41	29	of	of	ADP
cblr-2899	41	30	downgrades	downgrade	NOUN
cblr-2899	41	31	occurred	occur	VERB
cblr-2899	41	32	.	.	PUNCT
cblr-2899	42	1	figure	figure	NOUN
cblr-2899	42	2	1	1	NUM
cblr-2899	42	3	illustrates	illustrate	VERB
cblr-2899	42	4	the	the	DET
cblr-2899	42	5	rapid	rapid	ADJ
cblr-2899	42	6	deterioration	deterioration	NOUN
cblr-2899	42	7	in	in	ADP
cblr-2899	42	8	credit	credit	NOUN
cblr-2899	42	9	quality	quality	NOUN
cblr-2899	42	10	associated	associate	VERB
cblr-2899	42	11	with	with	ADP
cblr-2899	42	12	subprime	subprime	ADJ
cblr-2899	42	13	lending	lending	NOUN
cblr-2899	42	14	.	.	PUNCT
cblr-2899	43	1	by	by	ADP
cblr-2899	43	2	2003	2003	NUM
cblr-2899	43	3	,	,	PUNCT
cblr-2899	43	4	over	over	ADP
cblr-2899	43	5	40	40	NUM
cblr-2899	43	6	%	%	NOUN
cblr-2899	43	7	of	of	ADP
cblr-2899	43	8	subprime	subprime	ADJ
cblr-2899	43	9	loans	loan	NOUN
cblr-2899	43	10	were	be	AUX
cblr-2899	43	11	low	low	ADJ
cblr-2899	43	12	or	or	CCONJ
cblr-2899	43	13	no	no	DET
cblr-2899	43	14	-	-	PUNCT
cblr-2899	43	15	document	document	NOUN
cblr-2899	43	16	loans	loan	NOUN
cblr-2899	43	17	(	(	PUNCT
cblr-2899	43	18	i.e.	i.e.	X
cblr-2899	43	19	,	,	PUNCT
cblr-2899	43	20	loans	loan	NOUN
cblr-2899	43	21	extended	extend	VERB
cblr-2899	43	22	with	with	ADP
cblr-2899	43	23	very	very	ADV
cblr-2899	43	24	little	little	ADJ
cblr-2899	43	25	or	or	CCONJ
cblr-2899	43	26	no	no	PRON
cblr-2899	43	27	income	income	NOUN
cblr-2899	43	28	verification	verification	NOUN
cblr-2899	43	29	)	)	PUNCT
cblr-2899	43	30	and	and	CCONJ
cblr-2899	43	31	this	this	DET
cblr-2899	43	32	percentage	percentage	NOUN
cblr-2899	43	33	continued	continue	VERB
cblr-2899	43	34	to	to	PART
cblr-2899	43	35	increase	increase	VERB
cblr-2899	43	36	.	.	PUNCT
cblr-2899	44	1	however	however	ADV
cblr-2899	44	2	,	,	PUNCT
cblr-2899	44	3	it	it	PRON
cblr-2899	44	4	took	take	VERB
cblr-2899	44	5	until	until	ADP
cblr-2899	44	6	july	july	PROPN
cblr-2899	44	7	2007	2007	NUM
cblr-2899	44	8	for	for	SCONJ
cblr-2899	44	9	the	the	DET
cblr-2899	44	10	rating	rating	NOUN
cblr-2899	44	11	agencies	agency	NOUN
cblr-2899	44	12	to	to	PART
cblr-2899	44	13	downgrade	downgrade	VERB
cblr-2899	44	14	rapidly	rapidly	ADV
cblr-2899	44	15	influential	influential	ADJ
cblr-2899	44	16	lenders	lender	NOUN
cblr-2899	44	17	en	en	ADP
cblr-2899	44	18	masse	masse	X
cblr-2899	44	19	(	(	PUNCT
cblr-2899	44	20	whose	whose	DET
cblr-2899	44	21	structured	structured	ADJ
cblr-2899	44	22	products	product	NOUN
cblr-2899	44	23	were	be	AUX
cblr-2899	44	24	created	create	VERB
cblr-2899	44	25	using	use	VERB
cblr-2899	44	26	subprime	subprime	ADJ
cblr-2899	44	27	1	1	NUM
cblr-2899	44	28	this	this	DET
cblr-2899	44	29	quote	quote	INTJ
cblr-2899	44	30	originates	originate	VERB
cblr-2899	44	31	in	in	ADP
cblr-2899	44	32	an	an	DET
cblr-2899	44	33	infamous	infamous	ADJ
cblr-2899	44	34	e	e	NOUN
cblr-2899	44	35	-	-	NOUN
cblr-2899	44	36	mail	mail	NOUN
cblr-2899	44	37	exchange	exchange	NOUN
cblr-2899	44	38	between	between	ADP
cblr-2899	44	39	colleagues	colleague	NOUN
cblr-2899	44	40	working	work	VERB
cblr-2899	44	41	at	at	ADP
cblr-2899	44	42	a	a	DET
cblr-2899	44	43	credit	credit	NOUN
cblr-2899	44	44	rating	rating	NOUN
cblr-2899	44	45	agency	agency	NOUN
cblr-2899	44	46	.	.	PUNCT
cblr-2899	45	1	sec	sec	PROPN
cblr-2899	45	2	,	,	PUNCT
cblr-2899	45	3	summary	summary	NOUN
cblr-2899	45	4	report	report	NOUN
cblr-2899	45	5	of	of	ADP
cblr-2899	45	6	issues	issue	NOUN
cblr-2899	45	7	identified	identify	VERB
cblr-2899	45	8	in	in	ADP
cblr-2899	45	9	the	the	DET
cblr-2899	45	10	commission	commission	NOUN
cblr-2899	45	11	staff	staff	NOUN
cblr-2899	45	12	's	's	PART
cblr-2899	45	13	examinations	examination	NOUN
cblr-2899	45	14	of	of	ADP
cblr-2899	45	15	select	select	ADJ
cblr-2899	45	16	credit	credit	NOUN
cblr-2899	45	17	rating	rating	NOUN
cblr-2899	45	18	agencies	agency	NOUN
cblr-2899	45	19	12	12	NUM
cblr-2899	45	20	n.8	n.8	NOUN
cblr-2899	45	21	(	(	PUNCT
cblr-2899	45	22	2008	2008	NUM
cblr-2899	45	23	)	)	PUNCT
cblr-2899	45	24	,	,	PUNCT
cblr-2899	45	25	available	available	ADJ
cblr-2899	45	26	at	at	ADP
cblr-2899	45	27	www.sec.gov/	www.sec.gov/	PROPN
cblr-2899	45	28	news	news	NOUN
cblr-2899	45	29	/	/	SYM
cblr-2899	45	30	studies	study	NOUN
cblr-2899	45	31	/2008	/2008	SYM
cblr-2899	45	32	/	/	SYM
cblr-2899	45	33	craexaminationo70808.pdf	craexaminationo70808.pdf	NOUN
cblr-2899	45	34	.	.	PUNCT
cblr-2899	46	1	col	col	PROPN
cblr-2899	46	2	umbia	umbia	PROPN
cblr-2899	46	3	b	b	PROPN
cblr-2899	46	4	usiness	usiness	PROPN
cblr-2899	46	5	la	la	PROPN
cblr-2899	46	6	w	w	PROPN
cblr-2899	46	7	re	re	PROPN
cblr-2899	46	8	vie	vie	PROPN
cblr-2899	46	9	w	w	PROPN
cblr-2899	47	1	[	[	X
cblr-2899	47	2	vol	vol	NOUN
cblr-2899	47	3	.	.	PUNCT
cblr-2899	47	4	2012996	2012996	NUM
cblr-2899	48	1	lending).2	lending).2	PROPN
cblr-2899	48	2	figure	figure	NOUN
cblr-2899	48	3	2	2	NUM
cblr-2899	48	4	shows	show	VERB
cblr-2899	48	5	the	the	DET
cblr-2899	48	6	surge	surge	NOUN
cblr-2899	48	7	in	in	ADP
cblr-2899	48	8	securities	security	NOUN
cblr-2899	48	9	downgrades	downgrade	NOUN
cblr-2899	48	10	that	that	PRON
cblr-2899	48	11	occurred	occur	VERB
cblr-2899	48	12	in	in	ADP
cblr-2899	48	13	2007	2007	NUM
cblr-2899	48	14	,	,	PUNCT
cblr-2899	48	15	which	which	PRON
cblr-2899	48	16	includes	include	VERB
cblr-2899	48	17	almost	almost	ADV
cblr-2899	48	18	$	$	SYM
cblr-2899	48	19	35	35	NUM
cblr-2899	48	20	billion	billion	NUM
cblr-2899	48	21	of	of	ADP
cblr-2899	48	22	asset	asset	NOUN
cblr-2899	48	23	-	-	PUNCT
cblr-2899	48	24	backed	back	VERB
cblr-2899	48	25	securities	security	NOUN
cblr-2899	48	26	.	.	PUNCT
cblr-2899	49	1	twenty	twenty	NUM
cblr-2899	49	2	-	-	PUNCT
cblr-2899	49	3	six	six	NUM
cblr-2899	49	4	percent	percent	NOUN
cblr-2899	49	5	of	of	ADP
cblr-2899	49	6	all	all	DET
cblr-2899	49	7	downgrades	downgrade	NOUN
cblr-2899	49	8	affected	affect	VERB
cblr-2899	49	9	the	the	DET
cblr-2899	49	10	subprime	subprime	ADJ
cblr-2899	49	11	mortgage	mortgage	NOUN
cblr-2899	49	12	-	-	PUNCT
cblr-2899	49	13	backed	back	VERB
cblr-2899	49	14	securities	security	NOUN
cblr-2899	49	15	market	market	NOUN
cblr-2899	49	16	.	.	PUNCT
cblr-2899	50	1	given	give	VERB
cblr-2899	50	2	this	this	DET
cblr-2899	50	3	data	datum	NOUN
cblr-2899	50	4	,	,	PUNCT
cblr-2899	50	5	the	the	DET
cblr-2899	50	6	question	question	NOUN
cblr-2899	50	7	is	be	AUX
cblr-2899	50	8	:	:	PUNCT
cblr-2899	50	9	where	where	SCONJ
cblr-2899	50	10	were	be	AUX
cblr-2899	50	11	the	the	DET
cblr-2899	50	12	rating	rating	NOUN
cblr-2899	50	13	agencies	agency	NOUN
cblr-2899	50	14	before	before	ADP
cblr-2899	50	15	2007	2007	NUM
cblr-2899	50	16	?	?	PUNCT
cblr-2899	51	1	in	in	ADP
cblr-2899	51	2	retrospect	retrospect	NOUN
cblr-2899	51	3	,	,	PUNCT
cblr-2899	51	4	one	one	NUM
cblr-2899	51	5	of	of	ADP
cblr-2899	51	6	the	the	DET
cblr-2899	51	7	key	key	ADJ
cblr-2899	51	8	problems	problem	NOUN
cblr-2899	51	9	that	that	PRON
cblr-2899	51	10	cras	cras	PROPN
cblr-2899	51	11	faced	face	VERB
cblr-2899	51	12	was	be	AUX
cblr-2899	51	13	the	the	DET
cblr-2899	51	14	conflict	conflict	NOUN
cblr-2899	51	15	of	of	ADP
cblr-2899	51	16	interest	interest	NOUN
cblr-2899	51	17	inherent	inherent	ADJ
cblr-2899	51	18	in	in	ADP
cblr-2899	51	19	the	the	DET
cblr-2899	51	20	"	"	PUNCT
cblr-2899	51	21	issuer	issuer	NOUN
cblr-2899	51	22	-	-	PUNCT
cblr-2899	51	23	pays	pay	NOUN
cblr-2899	51	24	"	"	PUNCT
cblr-2899	51	25	business	business	NOUN
cblr-2899	51	26	model	model	NOUN
cblr-2899	51	27	they	they	PRON
cblr-2899	51	28	used	use	VERB
cblr-2899	51	29	.	.	PUNCT
cblr-2899	52	1	in	in	ADP
cblr-2899	52	2	response	response	NOUN
cblr-2899	52	3	to	to	ADP
cblr-2899	52	4	the	the	DET
cblr-2899	52	5	financial	financial	ADJ
cblr-2899	52	6	crisis	crisis	NOUN
cblr-2899	52	7	,	,	PUNCT
cblr-2899	52	8	the	the	DET
cblr-2899	52	9	united	united	PROPN
cblr-2899	52	10	states	states	PROPN
cblr-2899	52	11	enacted	enact	VERB
cblr-2899	52	12	major	major	ADJ
cblr-2899	52	13	financial	financial	ADJ
cblr-2899	52	14	regulatory	regulatory	ADJ
cblr-2899	52	15	reform	reform	NOUN
cblr-2899	52	16	through	through	ADP
cblr-2899	52	17	the	the	DET
cblr-2899	52	18	dodd	dodd	PROPN
cblr-2899	52	19	-	-	PUNCT
cblr-2899	52	20	frank	frank	PROPN
cblr-2899	52	21	wall	wall	PROPN
cblr-2899	52	22	street	street	PROPN
cblr-2899	52	23	reform	reform	PROPN
cblr-2899	52	24	and	and	CCONJ
cblr-2899	52	25	consumer	consumer	NOUN
cblr-2899	52	26	protection	protection	NOUN
cblr-2899	52	27	act	act	NOUN
cblr-2899	52	28	(	(	PUNCT
cblr-2899	52	29	"	"	PUNCT
cblr-2899	52	30	dodd	dodd	PROPN
cblr-2899	52	31	-	-	PUNCT
cblr-2899	52	32	frank	frank	PROPN
cblr-2899	52	33	"	"	PUNCT
cblr-2899	52	34	)	)	PUNCT
cblr-2899	52	35	,	,	PUNCT
cblr-2899	52	36	which	which	PRON
cblr-2899	52	37	also	also	ADV
cblr-2899	52	38	addressed	address	VERB
cblr-2899	52	39	reforms	reform	NOUN
cblr-2899	52	40	thought	think	VERB
cblr-2899	52	41	necessary	necessary	ADJ
cblr-2899	52	42	for	for	ADP
cblr-2899	52	43	the	the	DET
cblr-2899	52	44	credit	credit	NOUN
cblr-2899	52	45	rating	rating	NOUN
cblr-2899	52	46	industry	industry	NOUN
cblr-2899	52	47	.	.	PUNCT
cblr-2899	53	1	the	the	DET
cblr-2899	53	2	doddfrank	doddfrank	NOUN
cblr-2899	53	3	approach	approach	NOUN
cblr-2899	53	4	to	to	ADP
cblr-2899	53	5	dealing	deal	VERB
cblr-2899	53	6	with	with	ADP
cblr-2899	53	7	the	the	DET
cblr-2899	53	8	cras	cras	X
cblr-2899	53	9	'	'	PART
cblr-2899	53	10	conflict	conflict	NOUN
cblr-2899	53	11	of	of	ADP
cblr-2899	53	12	interest	interest	NOUN
cblr-2899	53	13	problem	problem	NOUN
cblr-2899	53	14	has	have	AUX
cblr-2899	53	15	been	be	AUX
cblr-2899	53	16	associated	associate	VERB
cblr-2899	53	17	with	with	ADP
cblr-2899	53	18	the	the	DET
cblr-2899	53	19	"	"	PUNCT
cblr-2899	53	20	franken	franken	NOUN
cblr-2899	53	21	proposal	proposal	NOUN
cblr-2899	53	22	,	,	PUNCT
cblr-2899	53	23	"	"	PUNCT
cblr-2899	53	24	which	which	PRON
cblr-2899	53	25	will	will	AUX
cblr-2899	53	26	be	be	AUX
cblr-2899	53	27	officially	officially	ADV
cblr-2899	53	28	implemented	implement	VERB
cblr-2899	53	29	if	if	SCONJ
cblr-2899	53	30	no	no	DET
cblr-2899	53	31	better	well	ADJ
cblr-2899	53	32	solution	solution	NOUN
cblr-2899	53	33	is	be	AUX
cblr-2899	53	34	presented	present	VERB
cblr-2899	53	35	by	by	ADP
cblr-2899	53	36	2012.3	2012.3	NUM
cblr-2899	53	37	this	this	DET
cblr-2899	53	38	note	note	NOUN
cblr-2899	53	39	analyzes	analyze	VERB
cblr-2899	53	40	the	the	DET
cblr-2899	53	41	pros	pro	NOUN
cblr-2899	53	42	and	and	CCONJ
cblr-2899	53	43	cons	con	NOUN
cblr-2899	53	44	of	of	ADP
cblr-2899	53	45	the	the	DET
cblr-2899	53	46	franken	franken	PROPN
cblr-2899	53	47	proposal	proposal	NOUN
cblr-2899	53	48	and	and	CCONJ
cblr-2899	53	49	its	its	PRON
cblr-2899	53	50	alternatives	alternative	NOUN
cblr-2899	53	51	,	,	PUNCT
cblr-2899	53	52	concluding	conclude	VERB
cblr-2899	53	53	that	that	SCONJ
cblr-2899	53	54	an	an	DET
cblr-2899	53	55	even	even	ADV
cblr-2899	53	56	better	well	ADJ
cblr-2899	53	57	solution	solution	NOUN
cblr-2899	53	58	may	may	AUX
cblr-2899	53	59	exist	exist	VERB
cblr-2899	53	60	for	for	ADP
cblr-2899	53	61	regulating	regulate	VERB
cblr-2899	53	62	the	the	DET
cblr-2899	53	63	conflicts	conflict	NOUN
cblr-2899	53	64	of	of	ADP
cblr-2899	53	65	interest	interest	NOUN
cblr-2899	53	66	that	that	SCONJ
cblr-2899	53	67	rating	rating	NOUN
cblr-2899	53	68	agencies	agency	NOUN
cblr-2899	53	69	face	face	VERB
cblr-2899	53	70	.	.	PUNCT
cblr-2899	54	1	it	it	PRON
cblr-2899	54	2	begins	begin	VERB
cblr-2899	54	3	by	by	ADP
cblr-2899	54	4	exploring	explore	VERB
cblr-2899	54	5	the	the	DET
cblr-2899	54	6	significance	significance	NOUN
cblr-2899	54	7	of	of	ADP
cblr-2899	54	8	cras	cras	PROPN
cblr-2899	54	9	in	in	ADP
cblr-2899	54	10	a	a	DET
cblr-2899	54	11	deregulated	deregulated	ADJ
cblr-2899	54	12	market	market	NOUN
cblr-2899	54	13	,	,	PUNCT
cblr-2899	54	14	the	the	DET
cblr-2899	54	15	problems	problem	NOUN
cblr-2899	54	16	with	with	ADP
cblr-2899	54	17	the	the	DET
cblr-2899	54	18	cras	cras	X
cblr-2899	54	19	'	'	PART
cblr-2899	54	20	business	business	NOUN
cblr-2899	54	21	structure	structure	NOUN
cblr-2899	54	22	,	,	PUNCT
cblr-2899	54	23	and	and	CCONJ
cblr-2899	54	24	the	the	DET
cblr-2899	54	25	ways	way	NOUN
cblr-2899	54	26	in	in	ADP
cblr-2899	54	27	which	which	PRON
cblr-2899	54	28	these	these	DET
cblr-2899	54	29	problems	problem	NOUN
cblr-2899	54	30	facilitated	facilitate	VERB
cblr-2899	54	31	the	the	DET
cblr-2899	54	32	financial	financial	ADJ
cblr-2899	54	33	crisis	crisis	NOUN
cblr-2899	54	34	.	.	PUNCT
cblr-2899	55	1	next	next	ADV
cblr-2899	55	2	,	,	PUNCT
cblr-2899	55	3	this	this	PRON
cblr-2899	55	4	note	note	NOUN
cblr-2899	55	5	details	detail	VERB
cblr-2899	55	6	the	the	DET
cblr-2899	55	7	regulatory	regulatory	ADJ
cblr-2899	55	8	approaches	approach	NOUN
cblr-2899	55	9	adopted	adopt	VERB
cblr-2899	55	10	to	to	ADP
cblr-2899	55	11	date	date	NOUN
cblr-2899	55	12	in	in	ADP
cblr-2899	55	13	the	the	DET
cblr-2899	55	14	united	united	PROPN
cblr-2899	55	15	states	states	PROPN
cblr-2899	55	16	and	and	CCONJ
cblr-2899	55	17	the	the	DET
cblr-2899	55	18	european	european	PROPN
cblr-2899	55	19	union	union	PROPN
cblr-2899	55	20	(	(	PUNCT
cblr-2899	55	21	"	"	PUNCT
cblr-2899	55	22	eu	eu	NOUN
cblr-2899	55	23	"	"	PUNCT
cblr-2899	55	24	)	)	PUNCT
cblr-2899	55	25	to	to	PART
cblr-2899	55	26	remedy	remedy	VERB
cblr-2899	55	27	the	the	DET
cblr-2899	55	28	situation	situation	NOUN
cblr-2899	55	29	.	.	PUNCT
cblr-2899	56	1	as	as	SCONJ
cblr-2899	56	2	will	will	AUX
cblr-2899	56	3	be	be	AUX
cblr-2899	56	4	discussed	discuss	VERB
cblr-2899	56	5	,	,	PUNCT
cblr-2899	56	6	these	these	DET
cblr-2899	56	7	regulatory	regulatory	ADJ
cblr-2899	56	8	approaches	approach	NOUN
cblr-2899	56	9	are	be	AUX
cblr-2899	56	10	not	not	PART
cblr-2899	56	11	sufficiently	sufficiently	ADV
cblr-2899	56	12	robust	robust	ADJ
cblr-2899	56	13	because	because	SCONJ
cblr-2899	56	14	they	they	PRON
cblr-2899	56	15	fail	fail	VERB
cblr-2899	56	16	to	to	PART
cblr-2899	56	17	address	address	VERB
cblr-2899	56	18	the	the	DET
cblr-2899	56	19	major	major	ADJ
cblr-2899	56	20	conflict	conflict	NOUN
cblr-2899	56	21	of	of	ADP
cblr-2899	56	22	interest	interest	NOUN
cblr-2899	56	23	problem	problem	NOUN
cblr-2899	56	24	inherent	inherent	ADJ
cblr-2899	56	25	in	in	ADP
cblr-2899	56	26	the	the	DET
cblr-2899	56	27	issuer	issuer	NOUN
cblr-2899	56	28	-	-	PUNCT
cblr-2899	56	29	pays	pay	NOUN
cblr-2899	56	30	model	model	NOUN
cblr-2899	56	31	under	under	ADP
cblr-2899	56	32	which	which	PRON
cblr-2899	56	33	the	the	DET
cblr-2899	56	34	cras	cras	PROPN
cblr-2899	56	35	operate	operate	VERB
cblr-2899	56	36	.	.	PUNCT
cblr-2899	57	1	recognizing	recognize	VERB
cblr-2899	57	2	the	the	DET
cblr-2899	57	3	shortcomings	shortcoming	NOUN
cblr-2899	57	4	of	of	ADP
cblr-2899	57	5	credit	credit	NOUN
cblr-2899	57	6	rating	rating	NOUN
cblr-2899	57	7	regulation	regulation	NOUN
cblr-2899	57	8	,	,	PUNCT
cblr-2899	57	9	scholars	scholar	NOUN
cblr-2899	57	10	around	around	ADP
cblr-2899	57	11	the	the	DET
cblr-2899	57	12	world	world	NOUN
cblr-2899	57	13	have	have	AUX
cblr-2899	57	14	published	publish	VERB
cblr-2899	57	15	proposals	proposal	NOUN
cblr-2899	57	16	to	to	PART
cblr-2899	57	17	adequately	adequately	ADV
cblr-2899	57	18	regulate	regulate	VERB
cblr-2899	57	19	the	the	DET
cblr-2899	57	20	industry	industry	NOUN
cblr-2899	57	21	.	.	PUNCT
cblr-2899	58	1	2	2	NUM
cblr-2899	58	2	staff	staff	NOUN
cblr-2899	58	3	of	of	ADP
cblr-2899	58	4	s.	s.	PROPN
cblr-2899	58	5	subcomm	subcomm	PROPN
cblr-2899	58	6	.	.	PUNCT
cblr-2899	59	1	on	on	ADP
cblr-2899	59	2	investigations	investigation	NOUN
cblr-2899	59	3	,	,	PUNCT
cblr-2899	59	4	comm	comm	NOUN
cblr-2899	59	5	.	.	PUNCT
cblr-2899	60	1	on	on	ADP
cblr-2899	60	2	homeland	homeland	PROPN
cblr-2899	60	3	sec	sec	PROPN
cblr-2899	60	4	.	.	PROPN
cblr-2899	61	1	and	and	CCONJ
cblr-2899	61	2	gov't	gov't	PROPN
cblr-2899	61	3	affairs	affair	NOUN
cblr-2899	61	4	,	,	PUNCT
cblr-2899	61	5	112th	112th	PROPN
cblr-2899	61	6	cong	cong	PROPN
cblr-2899	61	7	.	.	PROPN
cblr-2899	61	8	,	,	PUNCT
cblr-2899	61	9	wall	wall	PROPN
cblr-2899	61	10	street	street	PROPN
cblr-2899	61	11	and	and	CCONJ
cblr-2899	61	12	the	the	DET
cblr-2899	61	13	financial	financial	ADJ
cblr-2899	61	14	crisis	crisis	NOUN
cblr-2899	61	15	:	:	PUNCT
cblr-2899	61	16	anatomy	anatomy	NOUN
cblr-2899	61	17	of	of	ADP
cblr-2899	61	18	a	a	DET
cblr-2899	61	19	financial	financial	ADJ
cblr-2899	61	20	collapse	collapse	NOUN
cblr-2899	61	21	263	263	NUM
cblr-2899	61	22	(	(	PUNCT
cblr-2899	61	23	comm	comm	NOUN
cblr-2899	61	24	.	.	PUNCT
cblr-2899	62	1	print	print	NOUN
cblr-2899	62	2	2011	2011	NUM
cblr-2899	62	3	)	)	PUNCT
cblr-2899	62	4	,	,	PUNCT
cblr-2899	62	5	available	available	ADJ
cblr-2899	62	6	at	at	ADP
cblr-2899	62	7	www.hsgac.senate.gov//imo/medialdoc/financial-crisis/financialcrisisrep	www.hsgac.senate.gov//imo/medialdoc/financial-crisis/financialcrisisrep	X
cblr-2899	62	8	ort.pdf	ort.pdf	ADJ
cblr-2899	62	9	.	.	PUNCT
cblr-2899	62	10	3	3	NUM
cblr-2899	62	11	dodd	dodd	PROPN
cblr-2899	62	12	-	-	PUNCT
cblr-2899	62	13	frank	frank	PROPN
cblr-2899	62	14	wall	wall	PROPN
cblr-2899	62	15	street	street	PROPN
cblr-2899	62	16	reform	reform	PROPN
cblr-2899	62	17	and	and	CCONJ
cblr-2899	62	18	consumer	consumer	NOUN
cblr-2899	62	19	protection	protection	PROPN
cblr-2899	62	20	doddfrank	doddfrank	PROPN
cblr-2899	62	21	act	act	PROPN
cblr-2899	62	22	§	§	PROPN
cblr-2899	62	23	939(f	939(f	PROPN
cblr-2899	62	24	)	)	PUNCT
cblr-2899	62	25	,	,	PUNCT
cblr-2899	62	26	pub	pub	NOUN
cblr-2899	62	27	.	.	PUNCT
cblr-2899	63	1	l.	l.	PROPN
cblr-2899	63	2	no	no	INTJ
cblr-2899	63	3	.	.	PROPN
cblr-2899	63	4	111	111	NUM
cblr-2899	63	5	-	-	SYM
cblr-2899	63	6	203	203	NUM
cblr-2899	63	7	,	,	PUNCT
cblr-2899	63	8	124	124	NUM
cblr-2899	63	9	stat	stat	NOUN
cblr-2899	63	10	.	.	PUNCT
cblr-2899	64	1	1376	1376	NUM
cblr-2899	64	2	,	,	PUNCT
cblr-2899	64	3	1471	1471	NUM
cblr-2899	64	4	(	(	PUNCT
cblr-2899	64	5	2010	2010	NUM
cblr-2899	64	6	)	)	PUNCT
cblr-2899	64	7	.	.	PUNCT
cblr-2899	65	1	no	no	INTJ
cblr-2899	65	2	.	.	PUNCT
cblr-2899	66	1	3:994	3:994	NUM
cblr-2899	66	2	]	]	PUNCT
cblr-2899	66	3	regula	regula	NOUN
cblr-2899	66	4	ting	ting	PROPN
cblr-2899	66	5	credit	credit	PROPN
cblr-2899	66	6	ra	ra	PROPN
cblr-2899	66	7	ting	ting	PROPN
cblr-2899	66	8	agencies	agencies	PROPN
cblr-2899	66	9	997	997	NUM
cblr-2899	66	10	this	this	DET
cblr-2899	66	11	note	note	NOUN
cblr-2899	66	12	evaluates	evaluate	VERB
cblr-2899	66	13	the	the	DET
cblr-2899	66	14	pros	pro	NOUN
cblr-2899	66	15	and	and	CCONJ
cblr-2899	66	16	cons	con	NOUN
cblr-2899	66	17	of	of	ADP
cblr-2899	66	18	several	several	ADJ
cblr-2899	66	19	proposed	propose	VERB
cblr-2899	66	20	ideas	idea	NOUN
cblr-2899	66	21	and	and	CCONJ
cblr-2899	66	22	then	then	ADV
cblr-2899	66	23	offers	offer	VERB
cblr-2899	66	24	a	a	DET
cblr-2899	66	25	new	new	ADJ
cblr-2899	66	26	approach	approach	NOUN
cblr-2899	66	27	.	.	PUNCT
cblr-2899	67	1	this	this	DET
cblr-2899	67	2	note	note	NOUN
cblr-2899	67	3	concludes	conclude	VERB
cblr-2899	67	4	with	with	ADP
cblr-2899	67	5	an	an	DET
cblr-2899	67	6	evaluation	evaluation	NOUN
cblr-2899	67	7	of	of	ADP
cblr-2899	67	8	the	the	DET
cblr-2899	67	9	new	new	ADJ
cblr-2899	67	10	proposal	proposal	NOUN
cblr-2899	67	11	's	's	PART
cblr-2899	67	12	advantages	advantage	NOUN
cblr-2899	67	13	relative	relative	ADJ
cblr-2899	67	14	to	to	ADP
cblr-2899	67	15	the	the	DET
cblr-2899	67	16	discussed	discuss	VERB
cblr-2899	67	17	alternatives	alternative	NOUN
cblr-2899	67	18	.	.	PUNCT
cblr-2899	68	1	figure	figure	NOUN
cblr-2899	68	2	1	1	NUM
cblr-2899	68	3	:	:	PUNCT
cblr-2899	68	4	subprime	subprime	ADJ
cblr-2899	68	5	mortgage	mortgage	NOUN
cblr-2899	68	6	lending	lending	NOUN
cblr-2899	68	7	2001	2001	NUM
cblr-2899	68	8	-	-	SYM
cblr-2899	68	9	2006	2006	NUM
cblr-2899	68	10	:	:	PUNCT
cblr-2899	68	11	showing	show	VERB
cblr-2899	68	12	the	the	DET
cblr-2899	68	13	rapid	rapid	ADJ
cblr-2899	68	14	deterioration	deterioration	NOUN
cblr-2899	68	15	in	in	ADP
cblr-2899	68	16	credit	credit	NOUN
cblr-2899	68	17	quality	quality	NOUN
cblr-2899	68	18	associated	associate	VERB
cblr-2899	68	19	with	with	ADP
cblr-2899	68	20	subprime	subprime	ADJ
cblr-2899	68	21	lending	lending	NOUN
cblr-2899	68	22	4	4	NUM
cblr-2899	68	23	year	year	NOUN
cblr-2899	68	24	low	low	ADJ
cblr-2899	68	25	/	/	SYM
cblr-2899	68	26	no	no	DET
cblr-2899	68	27	-	-	PUNCT
cblr-2899	68	28	doc	doc	PROPN
cblr-2899	68	29	debt	debt	NOUN
cblr-2899	68	30	loan	loan	NOUN
cblr-2899	68	31	/	/	SYM
cblr-2899	68	32	adjustable	adjustable	ADJ
cblr-2899	68	33	interestshare	interestshare	NOUN
cblr-2899	68	34	payments	payment	NOUN
cblr-2899	68	35	value	value	NOUN
cblr-2899	68	36	rate	rate	NOUN
cblr-2899	68	37	only	only	ADV
cblr-2899	68	38	/	/	SYM
cblr-2899	68	39	income	income	NOUN
cblr-2899	68	40	mortgages	mortgage	NOUN
cblr-2899	68	41	share	share	NOUN
cblr-2899	68	42	share	share	NOUN
cblr-2899	68	43	2001	2001	NUM
cblr-2899	68	44	28.5	28.5	NUM
cblr-2899	68	45	%	%	NOUN
cblr-2899	68	46	39.7	39.7	NUM
cblr-2899	68	47	%	%	NOUN
cblr-2899	68	48	84.0	84.0	NUM
cblr-2899	68	49	%	%	NOUN
cblr-2899	68	50	73.8	73.8	NUM
cblr-2899	68	51	%	%	NOUN
cblr-2899	68	52	0.0	0.0	NUM
cblr-2899	68	53	%	%	NOUN
cblr-2899	68	54	2002	2002	NUM
cblr-2899	68	55	38.6	38.6	NUM
cblr-2899	68	56	%	%	NOUN
cblr-2899	68	57	40.1	40.1	NUM
cblr-2899	68	58	%	%	NOUN
cblr-2899	68	59	84.4	84.4	NUM
cblr-2899	68	60	%	%	NOUN
cblr-2899	68	61	80.0	80.0	NUM
cblr-2899	68	62	%	%	NOUN
cblr-2899	68	63	2.3	2.3	NUM
cblr-2899	68	64	%	%	NOUN
cblr-2899	68	65	2003	2003	NUM
cblr-2899	68	66	42.8	42.8	NUM
cblr-2899	68	67	%	%	NOUN
cblr-2899	68	68	40.5	40.5	NUM
cblr-2899	68	69	%	%	NOUN
cblr-2899	68	70	86.1	86.1	NUM
cblr-2899	68	71	%	%	NOUN
cblr-2899	68	72	80.1	80.1	NUM
cblr-2899	68	73	%	%	NOUN
cblr-2899	68	74	8.6	8.6	NUM
cblr-2899	68	75	%	%	NOUN
cblr-2899	68	76	2004	2004	NUM
cblr-2899	68	77	45.2	45.2	NUM
cblr-2899	68	78	%	%	NOUN
cblr-2899	68	79	41.2	41.2	NUM
cblr-2899	68	80	%	%	NOUN
cblr-2899	68	81	84.9	84.9	NUM
cblr-2899	68	82	%	%	NOUN
cblr-2899	68	83	89.4	89.4	NUM
cblr-2899	68	84	%	%	NOUN
cblr-2899	68	85	27.3	27.3	NUM
cblr-2899	68	86	%	%	NOUN
cblr-2899	68	87	2005	2005	NUM
cblr-2899	68	88	50.7	50.7	NUM
cblr-2899	68	89	%	%	NOUN
cblr-2899	68	90	41.8	41.8	NUM
cblr-2899	68	91	%	%	NOUN
cblr-2899	68	92	83.2	83.2	NUM
cblr-2899	68	93	%	%	NOUN
cblr-2899	68	94	93.3	93.3	NUM
cblr-2899	68	95	%	%	NOUN
cblr-2899	68	96	37.8	37.8	NUM
cblr-2899	68	97	%	%	NOUN
cblr-2899	68	98	2006	2006	NUM
cblr-2899	68	99	50.8	50.8	NUM
cblr-2899	68	100	%	%	NOUN
cblr-2899	68	101	42.4	42.4	NUM
cblr-2899	68	102	%	%	NOUN
cblr-2899	68	103	83.4	83.4	NUM
cblr-2899	68	104	%	%	NOUN
cblr-2899	68	105	91.3	91.3	NUM
cblr-2899	68	106	%	%	NOUN
cblr-2899	68	107	22.8	22.8	NUM
cblr-2899	68	108	%	%	NOUN
cblr-2899	68	109	4	4	NUM
cblr-2899	68	110	competition	competition	NOUN
cblr-2899	68	111	and	and	CCONJ
cblr-2899	68	112	credit	credit	NOUN
cblr-2899	68	113	rating	rating	NOUN
cblr-2899	68	114	agencies	agency	NOUN
cblr-2899	68	115	:	:	PUNCT
cblr-2899	68	116	hearing	hear	VERB
cblr-2899	68	117	before	before	ADP
cblr-2899	68	118	the	the	DET
cblr-2899	68	119	competition	competition	NOUN
cblr-2899	68	120	comm	comm	NOUN
cblr-2899	68	121	.	.	PUNCT
cblr-2899	69	1	of	of	ADP
cblr-2899	69	2	the	the	DET
cblr-2899	69	3	organization	organization	NOUN
cblr-2899	69	4	for	for	ADP
cblr-2899	69	5	economic	economic	ADJ
cblr-2899	69	6	cooperation	cooperation	NOUN
cblr-2899	69	7	and	and	CCONJ
cblr-2899	69	8	development	development	NOUN
cblr-2899	69	9	8	8	NUM
cblr-2899	69	10	fig.2	fig.2	PROPN
cblr-2899	69	11	(	(	PUNCT
cblr-2899	69	12	2010	2010	NUM
cblr-2899	69	13	)	)	PUNCT
cblr-2899	70	1	[	[	X
cblr-2899	70	2	hereinafter	hereinafter	NOUN
cblr-2899	70	3	oecd	oecd	PROPN
cblr-2899	70	4	hearing	hearing	NOUN
cblr-2899	70	5	]	]	PUNCT
cblr-2899	70	6	,	,	PUNCT
cblr-2899	70	7	available	available	ADJ
cblr-2899	70	8	at	at	ADP
cblr-2899	70	9	www.oecd.org/dataoecd/	www.oecd.org/dataoecd/	PROPN
cblr-2899	70	10	28/51/46825342.pdf	28/51/46825342.pdf	NUM
cblr-2899	70	11	.	.	PUNCT
cblr-2899	71	1	[	[	X
cblr-2899	71	2	vol	vol	NOUN
cblr-2899	71	3	.	.	PROPN
cblr-2899	71	4	20	20	NUM
cblr-2899	71	5	12998	12998	NUM
cblr-2899	71	6	columbia	columbia	PROPN
cblr-2899	71	7	b	b	PROPN
cblr-2899	71	8	usiness	usiness	PROPN
cblr-2899	71	9	la	la	PROPN
cblr-2899	71	10	w	w	PROPN
cblr-2899	71	11	re	re	PROPN
cblr-2899	71	12	vie	vie	PROPN
cblr-2899	71	13	w	w	PROPN
cblr-2899	71	14	regulating	regulate	VERB
cblr-2899	71	15	credit	credit	NOUN
cblr-2899	71	16	rating	rating	NOUN
cblr-2899	71	17	agencies	agency	NOUN
cblr-2899	71	18	figure	figure	VERB
cblr-2899	71	19	2	2	NUM
cblr-2899	71	20	:	:	PUNCT
cblr-2899	71	21	surges	surge	NOUN
cblr-2899	71	22	in	in	ADP
cblr-2899	71	23	downgraded	downgrade	VERB
cblr-2899	71	24	securities	security	NOUN
cblr-2899	71	25	5	5	NUM
cblr-2899	71	26	(	(	PUNCT
cblr-2899	71	27	a	a	NOUN
cblr-2899	71	28	)	)	PUNCT
cblr-2899	71	29	(	(	PUNCT
cblr-2899	71	30	b	b	NOUN
cblr-2899	71	31	)	)	PUNCT
cblr-2899	71	32	35th	35th	ADJ
cblr-2899	71	33	sfirsrn	sfirsrn	NOUN
cblr-2899	71	34	plabe	plabe	PROPN
cblr-2899	71	35	doo	doo	INTJ
cblr-2899	71	36	10	10	NUM
cblr-2899	71	37	%	%	NOUN
cblr-2899	71	38	98	98	NUM
cblr-2899	71	39	'	'	NUM
cblr-2899	71	40	99	99	NUM
cblr-2899	71	41	'	'	NUM
cblr-2899	71	42	oo	oo	INTJ
cblr-2899	71	43	'	'	NUM
cblr-2899	71	44	01	01	NUM
cblr-2899	71	45	'	'	NUM
cblr-2899	71	46	02	02	NUM
cblr-2899	71	47	'	'	PUNCT
cblr-2899	71	48	o3	o3	PROPN
cblr-2899	71	49	'	'	NUM
cblr-2899	71	50	04	04	NUM
cblr-2899	72	1	'	'	NUM
cblr-2899	72	2	05	05	NUM
cblr-2899	72	3	'	'	NUM
cblr-2899	72	4	06	06	NUM
cblr-2899	72	5	'	'	NUM
cblr-2899	72	6	07	07	NUM
cblr-2899	72	7	6	6	NUM
cblr-2899	72	8	(	(	PUNCT
cblr-2899	72	9	a	a	PRON
cblr-2899	72	10	)	)	PUNCT
cblr-2899	72	11	secuntees	secuntee	NOUN
cblr-2899	72	12	dowagraded	dowagrade	VERB
cblr-2899	72	13	to	to	ADP
cblr-2899	72	14	touble	touble	ADJ
cblr-2899	72	15	-	-	PUNCT
cblr-2899	72	16	c	c	NOUN
cblr-2899	72	17	or	or	CCONJ
cblr-2899	72	18	iower	iower	NOUN
cblr-2899	72	19	by	by	ADP
cblr-2899	72	20	at	at	ADV
cblr-2899	72	21	least	least	ADV
cblr-2899	72	22	one	one	NUM
cblr-2899	72	23	ratmg	ratmg	ADJ
cblr-2899	72	24	agency	agency	NOUN
cblr-2899	72	25	(	(	PUNCT
cblr-2899	72	26	b	b	NOUN
cblr-2899	72	27	)	)	PUNCT
cblr-2899	72	28	cumulatv	cumulatv	PROPN
cblr-2899	72	29	totals	total	NOUN
cblr-2899	72	30	of	of	ADP
cblr-2899	72	31	secunates	secunate	NOUN
cblr-2899	72	32	downgraded	downgrade	VERB
cblr-2899	72	33	to	to	PART
cblr-2899	72	34	dobe	dobe	PROPN
cblr-2899	72	35	c	c	PROPN
cblr-2899	72	36	or	or	CCONJ
cblr-2899	72	37	towse	towse	VERB
cblr-2899	72	38	by	by	ADP
cblr-2899	72	39	at	at	ADV
cblr-2899	72	40	least	least	ADV
cblr-2899	72	41	one	one	NUM
cblr-2899	72	42	satng	satng	NOUN
cblr-2899	72	43	agency	agency	PROPN
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cblr-2899	72	46	value	value	PROPN
cblr-2899	72	47	of	of	ADP
cblr-2899	72	48	cras	cras	PROPN
cblr-2899	72	49	:	:	PUNCT
cblr-2899	72	50	why	why	SCONJ
cblr-2899	72	51	we	we	PRON
cblr-2899	72	52	have	have	VERB
cblr-2899	72	53	them	they	PRON
cblr-2899	72	54	in	in	ADP
cblr-2899	72	55	the	the	DET
cblr-2899	72	56	first	first	ADJ
cblr-2899	72	57	place	place	NOUN
cblr-2899	72	58	cras	cras	X
cblr-2899	72	59	are	be	AUX
cblr-2899	72	60	private	private	ADJ
cblr-2899	72	61	firms	firm	NOUN
cblr-2899	72	62	that	that	PRON
cblr-2899	72	63	offer	offer	VERB
cblr-2899	72	64	judgments	judgment	NOUN
cblr-2899	72	65	about	about	ADP
cblr-2899	72	66	the	the	DET
cblr-2899	72	67	creditworthiness	creditworthiness	NOUN
cblr-2899	72	68	of	of	ADP
cblr-2899	72	69	debt	debt	NOUN
cblr-2899	72	70	issued	issue	VERB
cblr-2899	72	71	by	by	ADP
cblr-2899	72	72	various	various	ADJ
cblr-2899	72	73	entities	entity	NOUN
cblr-2899	72	74	and	and	CCONJ
cblr-2899	72	75	measure	measure	VERB
cblr-2899	72	76	the	the	DET
cblr-2899	72	77	likelihood	likelihood	NOUN
cblr-2899	72	78	of	of	ADP
cblr-2899	72	79	default	default	NOUN
cblr-2899	72	80	on	on	ADP
cblr-2899	72	81	these	these	DET
cblr-2899	72	82	obligations	obligation	NOUN
cblr-2899	72	83	.	.	PUNCT
cblr-2899	73	1	they	they	PRON
cblr-2899	73	2	express	express	VERB
cblr-2899	73	3	their	their	PRON
cblr-2899	73	4	judgments	judgment	NOUN
cblr-2899	73	5	in	in	ADP
cblr-2899	73	6	the	the	DET
cblr-2899	73	7	form	form	NOUN
cblr-2899	73	8	of	of	ADP
cblr-2899	73	9	credit	credit	NOUN
cblr-2899	73	10	ratings	rating	NOUN
cblr-2899	73	11	that	that	PRON
cblr-2899	73	12	are	be	AUX
cblr-2899	73	13	typically	typically	ADV
cblr-2899	73	14	letter	letter	NOUN
cblr-2899	73	15	grades	grade	NOUN
cblr-2899	73	16	.	.	PUNCT
cblr-2899	74	1	a	a	DET
cblr-2899	74	2	cra	cra	PROPN
cblr-2899	74	3	's	's	PART
cblr-2899	74	4	main	main	ADJ
cblr-2899	74	5	function	function	NOUN
cblr-2899	74	6	is	be	AUX
cblr-2899	74	7	to	to	PART
cblr-2899	74	8	provide	provide	VERB
cblr-2899	74	9	information	information	NOUN
cblr-2899	74	10	to	to	ADP
cblr-2899	74	11	investors	investor	NOUN
cblr-2899	74	12	to	to	PART
cblr-2899	74	13	save	save	VERB
cblr-2899	74	14	them	they	PRON
cblr-2899	74	15	the	the	DET
cblr-2899	74	16	expensive	expensive	ADJ
cblr-2899	74	17	and	and	CCONJ
cblr-2899	74	18	wasteful	wasteful	ADJ
cblr-2899	74	19	duplicative	duplicative	ADJ
cblr-2899	74	20	efforts	effort	NOUN
cblr-2899	74	21	of	of	ADP
cblr-2899	74	22	collecting	collect	VERB
cblr-2899	74	23	and	and	CCONJ
cblr-2899	74	24	processing	processing	NOUN
cblr-2899	74	25	comparable	comparable	ADJ
cblr-2899	74	26	information.6	information.6	NOUN
cblr-2899	74	27	by	by	ADP
cblr-2899	74	28	providing	provide	VERB
cblr-2899	74	29	this	this	DET
cblr-2899	74	30	information	information	NOUN
cblr-2899	74	31	,	,	PUNCT
cblr-2899	74	32	cras	cras	PROPN
cblr-2899	74	33	facilitate	facilitate	VERB
cblr-2899	74	34	efficient	efficient	ADJ
cblr-2899	74	35	transactions	transaction	NOUN
cblr-2899	74	36	and	and	CCONJ
cblr-2899	74	37	make	make	VERB
cblr-2899	74	38	the	the	DET
cblr-2899	74	39	debt	debt	NOUN
cblr-2899	74	40	markets	market	VERB
cblr-2899	74	41	more	more	ADV
cblr-2899	74	42	liquid	liquid	ADJ
cblr-2899	74	43	.	.	PUNCT
cblr-2899	74	44	'	'	PUNCT
cblr-2899	75	1	many	many	ADJ
cblr-2899	75	2	securities	security	NOUN
cblr-2899	75	3	,	,	PUNCT
cblr-2899	75	4	such	such	ADJ
cblr-2899	75	5	as	as	ADP
cblr-2899	75	6	structured	structure	VERB
cblr-2899	75	7	5	5	NUM
cblr-2899	75	8	karen	karen	PROPN
cblr-2899	75	9	weaver	weaver	PROPN
cblr-2899	75	10	,	,	PUNCT
cblr-2899	75	11	u.s	u.s	PROPN
cblr-2899	75	12	.	.	PROPN
cblr-2899	75	13	asset	asset	NOUN
cblr-2899	75	14	-	-	PUNCT
cblr-2899	75	15	backed	back	VERB
cblr-2899	75	16	securities	security	NOUN
cblr-2899	75	17	market	market	NOUN
cblr-2899	75	18	review	review	NOUN
cblr-2899	75	19	and	and	CCONJ
cblr-2899	75	20	outlook	outlook	NOUN
cblr-2899	75	21	,	,	PUNCT
cblr-2899	75	22	in	in	ADP
cblr-2899	75	23	global	global	ADJ
cblr-2899	75	24	securitization	securitization	NOUN
cblr-2899	75	25	and	and	CCONJ
cblr-2899	75	26	structured	structured	ADJ
cblr-2899	75	27	finance	finance	NOUN
cblr-2899	75	28	18	18	NUM
cblr-2899	75	29	,	,	PUNCT
cblr-2899	75	30	20	20	NUM
cblr-2899	75	31	fig.3	fig.3	PROPN
cblr-2899	75	32	(	(	PUNCT
cblr-2899	75	33	deutsche	deutsche	PROPN
cblr-2899	75	34	bank	bank	PROPN
cblr-2899	75	35	2008	2008	NUM
cblr-2899	75	36	)	)	PUNCT
cblr-2899	75	37	,	,	PUNCT
cblr-2899	75	38	www.globalsecuritisation.com/08_gbp/gbp	www.globalsecuritisation.com/08_gbp/gbp	NOUN
cblr-2899	75	39	_	_	SYM
cblr-2899	75	40	gssfo8_018_021_db_us	gssfo8_018_021_db_us	PROPN
cblr-2899	75	41	abs.pdf	abs.pdf	PROPN
cblr-2899	75	42	.	.	PUNCT
cblr-2899	76	1	6	6	NUM
cblr-2899	76	2	see	see	VERB
cblr-2899	76	3	paul	paul	PROPN
cblr-2899	76	4	schultz	schultz	PROPN
cblr-2899	76	5	,	,	PUNCT
cblr-2899	76	6	the	the	DET
cblr-2899	76	7	credit	credit	NOUN
cblr-2899	76	8	rating	rating	NOUN
cblr-2899	76	9	conundrum	conundrum	NOUN
cblr-2899	76	10	,	,	PUNCT
cblr-2899	76	11	notre	notre	PROPN
cblr-2899	76	12	dame	dame	PROPN
cblr-2899	76	13	center	center	NOUN
cblr-2899	76	14	for	for	ADP
cblr-2899	76	15	the	the	DET
cblr-2899	76	16	study	study	NOUN
cblr-2899	76	17	of	of	ADP
cblr-2899	76	18	fin	fin	NOUN
cblr-2899	76	19	.	.	PUNCT
cblr-2899	77	1	reg	reg	PROPN
cblr-2899	77	2	.	.	PUNCT
cblr-2899	77	3	,	,	PUNCT
cblr-2899	77	4	spring	spring	NOUN
cblr-2899	77	5	2010	2010	NUM
cblr-2899	77	6	,	,	PUNCT
cblr-2899	77	7	at	at	ADP
cblr-2899	77	8	4	4	NUM
cblr-2899	77	9	-	-	SYM
cblr-2899	77	10	5	5	NUM
cblr-2899	77	11	,	,	PUNCT
cblr-2899	77	12	available	available	ADJ
cblr-2899	77	13	at	at	ADP
cblr-2899	77	14	http://business.nd.edu/uploadedfiles/academiccenters/study-olfinanci	http://business.nd.edu/uploadedfiles/academiccenters/study-olfinanci	PROPN
cblr-2899	77	15	alregulation	alregulation	NOUN
cblr-2899	77	16	/	/	SYM
cblr-2899	77	17	pdf	pdf	NOUN
cblr-2899	77	18	and	and	CCONJ
cblr-2899	77	19	documents	document	NOUN
cblr-2899	77	20	/	/	SYM
cblr-2899	77	21	finance%20newsletter%2ospring%201	finance%20newsletter%2ospring%201	NOUN
cblr-2899	77	22	0%205_24.pdf	0%205_24.pdf	NUM
cblr-2899	77	23	.	.	PUNCT
cblr-2899	77	24	7	7	NUM
cblr-2899	78	1	i	i	PRON
cblr-2899	78	2	d.	d.	PROPN
cblr-2899	78	3	no	no	INTJ
cblr-2899	78	4	.	.	PUNCT
cblr-2899	79	1	3:994	3:994	NUM
cblr-2899	79	2	]	]	SYM
cblr-2899	79	3	999	999	NUM
cblr-2899	79	4	finance	finance	NOUN
cblr-2899	79	5	products	product	NOUN
cblr-2899	79	6	,	,	PUNCT
cblr-2899	79	7	are	be	AUX
cblr-2899	79	8	so	so	ADV
cblr-2899	79	9	complex	complex	ADJ
cblr-2899	79	10	that	that	SCONJ
cblr-2899	79	11	investors	investor	NOUN
cblr-2899	79	12	require	require	VERB
cblr-2899	79	13	considerable	considerable	ADJ
cblr-2899	79	14	resources	resource	NOUN
cblr-2899	79	15	and	and	CCONJ
cblr-2899	79	16	nonpublic	nonpublic	ADJ
cblr-2899	79	17	information	information	NOUN
cblr-2899	79	18	to	to	PART
cblr-2899	79	19	analyze	analyze	VERB
cblr-2899	79	20	and	and	CCONJ
cblr-2899	79	21	understand	understand	VERB
cblr-2899	79	22	them	they	PRON
cblr-2899	79	23	adequately	adequately	ADV
cblr-2899	79	24	.	.	PUNCT
cblr-2899	79	25	'	'	PUNCT
cblr-2899	80	1	although	although	SCONJ
cblr-2899	80	2	institutional	institutional	ADJ
cblr-2899	80	3	investors	investor	NOUN
cblr-2899	80	4	often	often	ADV
cblr-2899	80	5	have	have	VERB
cblr-2899	80	6	adequate	adequate	ADJ
cblr-2899	80	7	information	information	NOUN
cblr-2899	80	8	-	-	PUNCT
cblr-2899	80	9	gathering	gather	VERB
cblr-2899	80	10	capacities	capacity	NOUN
cblr-2899	80	11	and	and	CCONJ
cblr-2899	80	12	may	may	AUX
cblr-2899	80	13	conduct	conduct	VERB
cblr-2899	80	14	their	their	PRON
cblr-2899	80	15	own	own	ADJ
cblr-2899	80	16	credit	credit	NOUN
cblr-2899	80	17	-	-	PUNCT
cblr-2899	80	18	risk	risk	NOUN
cblr-2899	80	19	analysis	analysis	NOUN
cblr-2899	80	20	,	,	PUNCT
cblr-2899	80	21	the	the	DET
cblr-2899	80	22	ratings	rating	NOUN
cblr-2899	80	23	serve	serve	VERB
cblr-2899	80	24	as	as	ADP
cblr-2899	80	25	points	point	NOUN
cblr-2899	80	26	of	of	ADP
cblr-2899	80	27	comparison	comparison	NOUN
cblr-2899	80	28	for	for	ADP
cblr-2899	80	29	these	these	DET
cblr-2899	80	30	highly	highly	ADV
cblr-2899	80	31	complex	complex	ADJ
cblr-2899	80	32	securities	security	NOUN
cblr-2899	80	33	.	.	PUNCT
cblr-2899	81	1	institutional	institutional	ADJ
cblr-2899	81	2	investors	investor	NOUN
cblr-2899	81	3	use	use	VERB
cblr-2899	81	4	ratings	rating	NOUN
cblr-2899	81	5	as	as	ADP
cblr-2899	81	6	one	one	NUM
cblr-2899	81	7	of	of	ADP
cblr-2899	81	8	many	many	ADJ
cblr-2899	81	9	factors	factor	NOUN
cblr-2899	81	10	in	in	ADP
cblr-2899	81	11	their	their	PRON
cblr-2899	81	12	internal	internal	ADJ
cblr-2899	81	13	credit	credit	NOUN
cblr-2899	81	14	-	-	PUNCT
cblr-2899	81	15	risk	risk	NOUN
cblr-2899	81	16	evaluation	evaluation	NOUN
cblr-2899	81	17	or	or	CCONJ
cblr-2899	81	18	to	to	PART
cblr-2899	81	19	help	help	VERB
cblr-2899	81	20	them	they	PRON
cblr-2899	81	21	identify	identify	VERB
cblr-2899	81	22	pricing	pricing	NOUN
cblr-2899	81	23	discrepancies	discrepancy	NOUN
cblr-2899	81	24	that	that	PRON
cblr-2899	81	25	benefit	benefit	VERB
cblr-2899	81	26	their	their	PRON
cblr-2899	81	27	trading	trading	NOUN
cblr-2899	81	28	operations	operation	NOUN
cblr-2899	81	29	.	.	PUNCT
cblr-2899	81	30	'	'	PUNCT
cblr-2899	82	1	additionally	additionally	ADV
cblr-2899	82	2	,	,	PUNCT
cblr-2899	82	3	many	many	ADJ
cblr-2899	82	4	institutional	institutional	ADJ
cblr-2899	82	5	investors	investor	NOUN
cblr-2899	82	6	are	be	AUX
cblr-2899	82	7	subject	subject	ADJ
cblr-2899	82	8	to	to	ADP
cblr-2899	82	9	regulatory	regulatory	ADJ
cblr-2899	82	10	restrictions	restriction	NOUN
cblr-2899	82	11	with	with	ADP
cblr-2899	82	12	respect	respect	NOUN
cblr-2899	82	13	to	to	ADP
cblr-2899	82	14	the	the	DET
cblr-2899	82	15	types	type	NOUN
cblr-2899	82	16	of	of	ADP
cblr-2899	82	17	risky	risky	ADJ
cblr-2899	82	18	investing	investing	NOUN
cblr-2899	82	19	they	they	PRON
cblr-2899	82	20	can	can	AUX
cblr-2899	82	21	engage	engage	VERB
cblr-2899	82	22	in	in	ADP
cblr-2899	82	23	,	,	PUNCT
cblr-2899	82	24	and	and	CCONJ
cblr-2899	82	25	are	be	AUX
cblr-2899	82	26	required	require	VERB
cblr-2899	82	27	to	to	PART
cblr-2899	82	28	invest	invest	VERB
cblr-2899	82	29	in	in	ADP
cblr-2899	82	30	securities	security	NOUN
cblr-2899	82	31	with	with	ADP
cblr-2899	82	32	specific	specific	ADJ
cblr-2899	82	33	threshold	threshold	NOUN
cblr-2899	82	34	credit	credit	NOUN
cblr-2899	82	35	ratings	rating	NOUN
cblr-2899	82	36	.	.	PUNCT
cblr-2899	83	1	10	10	NUM
cblr-2899	83	2	broker	broker	NOUN
cblr-2899	83	3	-	-	PUNCT
cblr-2899	83	4	dealers	dealer	NOUN
cblr-2899	83	5	also	also	ADV
cblr-2899	83	6	use	use	VERB
cblr-2899	83	7	ratings	rating	NOUN
cblr-2899	83	8	"	"	PUNCT
cblr-2899	83	9	to	to	PART
cblr-2899	83	10	recommend	recommend	VERB
cblr-2899	83	11	and	and	CCONJ
cblr-2899	83	12	sell	sell	VERB
cblr-2899	83	13	securities	security	NOUN
cblr-2899	83	14	"	"	PUNCT
cblr-2899	83	15	and	and	CCONJ
cblr-2899	83	16	to	to	PART
cblr-2899	83	17	determine	determine	VERB
cblr-2899	83	18	"	"	PUNCT
cblr-2899	83	19	collateral	collateral	ADJ
cblr-2899	83	20	levels	level	NOUN
cblr-2899	83	21	for	for	ADP
cblr-2899	83	22	outstanding	outstanding	ADJ
cblr-2899	83	23	credit	credit	NOUN
cblr-2899	83	24	exposures	exposure	NOUN
cblr-2899	83	25	.	.	PUNCT
cblr-2899	84	1	"	"	PUNCT
cblr-2899	84	2	'	'	PUNCT
cblr-2899	84	3	iii	iii	X
cblr-2899	84	4	.	.	PUNCT
cblr-2899	85	1	how	how	SCONJ
cblr-2899	85	2	cras	cras	PROPN
cblr-2899	85	3	facilitated	facilitate	VERB
cblr-2899	85	4	the	the	DET
cblr-2899	85	5	financial	financial	ADJ
cblr-2899	85	6	crisis	crisis	NOUN
cblr-2899	85	7	it	it	PRON
cblr-2899	85	8	is	be	AUX
cblr-2899	85	9	important	important	ADJ
cblr-2899	85	10	to	to	PART
cblr-2899	85	11	understand	understand	VERB
cblr-2899	85	12	how	how	SCONJ
cblr-2899	85	13	cras	cras	PROPN
cblr-2899	85	14	operate	operate	VERB
cblr-2899	85	15	,	,	PUNCT
cblr-2899	85	16	who	who	PRON
cblr-2899	85	17	relies	rely	VERB
cblr-2899	85	18	on	on	ADP
cblr-2899	85	19	them	they	PRON
cblr-2899	85	20	,	,	PUNCT
cblr-2899	85	21	and	and	CCONJ
cblr-2899	85	22	how	how	SCONJ
cblr-2899	85	23	these	these	DET
cblr-2899	85	24	factors	factor	NOUN
cblr-2899	85	25	impact	impact	VERB
cblr-2899	85	26	the	the	DET
cblr-2899	85	27	economy	economy	NOUN
cblr-2899	85	28	before	before	ADP
cblr-2899	85	29	proposing	propose	VERB
cblr-2899	85	30	a	a	DET
cblr-2899	85	31	solution	solution	NOUN
cblr-2899	85	32	.	.	PUNCT
cblr-2899	86	1	the	the	DET
cblr-2899	86	2	following	follow	VERB
cblr-2899	86	3	factors	factor	NOUN
cblr-2899	86	4	explain	explain	VERB
cblr-2899	86	5	why	why	SCONJ
cblr-2899	86	6	the	the	DET
cblr-2899	86	7	credit	credit	NOUN
cblr-2899	86	8	rating	rating	NOUN
cblr-2899	86	9	agencies	agency	NOUN
cblr-2899	86	10	were	be	AUX
cblr-2899	86	11	vulnerable	vulnerable	ADJ
cblr-2899	86	12	to	to	ADP
cblr-2899	86	13	conflicts	conflict	NOUN
cblr-2899	86	14	of	of	ADP
cblr-2899	86	15	interest	interest	NOUN
cblr-2899	86	16	,	,	PUNCT
cblr-2899	86	17	and	and	CCONJ
cblr-2899	86	18	how	how	SCONJ
cblr-2899	86	19	their	their	PRON
cblr-2899	86	20	business	business	NOUN
cblr-2899	86	21	structure	structure	NOUN
cblr-2899	86	22	facilitated	facilitate	VERB
cblr-2899	86	23	the	the	DET
cblr-2899	86	24	financial	financial	ADJ
cblr-2899	86	25	crisis	crisis	NOUN
cblr-2899	86	26	.	.	PUNCT
cblr-2899	87	1	a.	a.	NOUN
cblr-2899	88	1	the	the	DET
cblr-2899	88	2	issuer	issuer	NOUN
cblr-2899	88	3	-	-	PUNCT
cblr-2899	88	4	pays	pay	NOUN
cblr-2899	88	5	model	model	NOUN
cblr-2899	88	6	and	and	CCONJ
cblr-2899	88	7	conflicts	conflict	NOUN
cblr-2899	88	8	of	of	ADP
cblr-2899	88	9	interest	interest	NOUN
cblr-2899	88	10	an	an	DET
cblr-2899	88	11	inherent	inherent	ADJ
cblr-2899	88	12	conflict	conflict	NOUN
cblr-2899	88	13	of	of	ADP
cblr-2899	88	14	interest	interest	NOUN
cblr-2899	88	15	exists	exist	VERB
cblr-2899	88	16	in	in	ADP
cblr-2899	88	17	the	the	DET
cblr-2899	88	18	business	business	NOUN
cblr-2899	88	19	structure	structure	NOUN
cblr-2899	88	20	of	of	ADP
cblr-2899	88	21	most	most	ADJ
cblr-2899	88	22	cras	cras	X
cblr-2899	88	23	that	that	PRON
cblr-2899	88	24	operate	operate	VERB
cblr-2899	88	25	under	under	ADP
cblr-2899	88	26	an	an	DET
cblr-2899	88	27	issuer	issuer	NOUN
cblr-2899	88	28	-	-	PUNCT
cblr-2899	88	29	pays	pay	NOUN
cblr-2899	88	30	8	8	NUM
cblr-2899	88	31	see	see	VERB
cblr-2899	88	32	timothy	timothy	PROPN
cblr-2899	88	33	e.	e.	PROPN
cblr-2899	88	34	lynch	lynch	PROPN
cblr-2899	88	35	,	,	PUNCT
cblr-2899	88	36	deeply	deeply	ADV
cblr-2899	88	37	and	and	CCONJ
cblr-2899	88	38	persistently	persistently	ADV
cblr-2899	88	39	conflicted	conflict	VERB
cblr-2899	88	40	:	:	PUNCT
cblr-2899	88	41	credit	credit	NOUN
cblr-2899	88	42	rating	rating	NOUN
cblr-2899	88	43	agencies	agency	NOUN
cblr-2899	88	44	in	in	ADP
cblr-2899	88	45	the	the	DET
cblr-2899	88	46	current	current	ADJ
cblr-2899	88	47	regulatory	regulatory	ADJ
cblr-2899	88	48	environment	environment	NOUN
cblr-2899	88	49	,	,	PUNCT
cblr-2899	88	50	59	59	NUM
cblr-2899	88	51	case	case	NOUN
cblr-2899	88	52	w.	w.	NOUN
cblr-2899	88	53	res	res	PROPN
cblr-2899	88	54	.	.	PUNCT
cblr-2899	89	1	l.	l.	PROPN
cblr-2899	89	2	rev	rev	PROPN
cblr-2899	89	3	.	.	PROPN
cblr-2899	89	4	227	227	NUM
cblr-2899	89	5	,	,	PUNCT
cblr-2899	89	6	242	242	NUM
cblr-2899	89	7	-	-	SYM
cblr-2899	89	8	43	43	NUM
cblr-2899	89	9	(	(	PUNCT
cblr-2899	89	10	2009	2009	NUM
cblr-2899	89	11	)	)	PUNCT
cblr-2899	89	12	.	.	PUNCT
cblr-2899	90	1	9	9	NUM
cblr-2899	90	2	u.s	u.s	PROPN
cblr-2899	90	3	.	.	PROPN
cblr-2899	90	4	gov't	gov't	PROPN
cblr-2899	90	5	accountability	accountability	NOUN
cblr-2899	90	6	office	office	NOUN
cblr-2899	90	7	,	,	PUNCT
cblr-2899	90	8	gao-12	gao-12	NOUN
cblr-2899	90	9	-	-	SYM
cblr-2899	90	10	240	240	NUM
cblr-2899	90	11	,	,	PUNCT
cblr-2899	90	12	credit	credit	NOUN
cblr-2899	90	13	rating	rating	NOUN
cblr-2899	90	14	agencies	agency	NOUN
cblr-2899	90	15	:	:	PUNCT
cblr-2899	90	16	alternative	alternative	ADJ
cblr-2899	90	17	compensation	compensation	NOUN
cblr-2899	90	18	models	model	NOUN
cblr-2899	90	19	for	for	ADP
cblr-2899	90	20	nationally	nationally	ADV
cblr-2899	90	21	recognized	recognize	VERB
cblr-2899	90	22	statistical	statistical	ADJ
cblr-2899	90	23	rating	rating	NOUN
cblr-2899	90	24	organizations	organization	NOUN
cblr-2899	90	25	6	6	NUM
cblr-2899	90	26	(	(	PUNCT
cblr-2899	90	27	2012	2012	NUM
cblr-2899	90	28	)	)	PUNCT
cblr-2899	91	1	[	[	X
cblr-2899	91	2	hereinafter	hereinafter	NOUN
cblr-2899	91	3	gao	gao	PROPN
cblr-2899	91	4	report	report	PROPN
cblr-2899	91	5	]	]	PUNCT
cblr-2899	91	6	,	,	PUNCT
cblr-2899	91	7	available	available	ADJ
cblr-2899	91	8	at	at	ADP
cblr-2899	91	9	www.gao.gov/assets/590/587832.pdf	www.gao.gov/assets/590/587832.pdf	NOUN
cblr-2899	91	10	.	.	PUNCT
cblr-2899	92	1	10	10	NUM
cblr-2899	92	2	see	see	VERB
cblr-2899	92	3	infra	infra	NOUN
cblr-2899	92	4	figure	figure	NOUN
cblr-2899	92	5	3	3	NUM
cblr-2899	92	6	.	.	NOUN
cblr-2899	92	7	11	11	NUM
cblr-2899	92	8	gao	gao	PROPN
cblr-2899	92	9	report	report	NOUN
cblr-2899	92	10	,	,	PUNCT
cblr-2899	92	11	supra	supra	PROPN
cblr-2899	92	12	note	note	NOUN
cblr-2899	92	13	9	9	NUM
cblr-2899	92	14	,	,	PUNCT
cblr-2899	92	15	at	at	ADP
cblr-2899	92	16	6	6	NUM
cblr-2899	92	17	.	.	PUNCT
cblr-2899	92	18	col	col	PROPN
cblr-2899	92	19	umbia	umbia	PROPN
cblr-2899	93	1	b	b	PROPN
cblr-2899	94	1	usiness	usiness	PROPN
cblr-2899	94	2	la	la	PROPN
cblr-2899	94	3	w	w	PROPN
cblr-2899	94	4	re	re	PROPN
cblr-2899	94	5	vie	vie	PROPN
cblr-2899	94	6	w	w	PROPN
cblr-2899	95	1	[	[	X
cblr-2899	95	2	vol	vol	NOUN
cblr-2899	95	3	.	.	NOUN
cblr-2899	95	4	20121000	20121000	NUM
cblr-2899	95	5	regulating	regulate	VERB
cblr-2899	95	6	credit	credit	NOUN
cblr-2899	95	7	rating	rating	NOUN
cblr-2899	95	8	agencies	agency	NOUN
cblr-2899	95	9	model	model	NOUN
cblr-2899	95	10	,	,	PUNCT
cblr-2899	95	11	where	where	SCONJ
cblr-2899	95	12	the	the	DET
cblr-2899	95	13	entities	entity	NOUN
cblr-2899	95	14	that	that	PRON
cblr-2899	95	15	issue	issue	VERB
cblr-2899	95	16	the	the	DET
cblr-2899	95	17	debt	debt	NOUN
cblr-2899	95	18	instruments	instrument	NOUN
cblr-2899	95	19	or	or	CCONJ
cblr-2899	95	20	sell	sell	VERB
cblr-2899	95	21	them	they	PRON
cblr-2899	95	22	to	to	ADP
cblr-2899	95	23	investors	investor	NOUN
cblr-2899	95	24	are	be	AUX
cblr-2899	95	25	also	also	ADV
cblr-2899	95	26	the	the	DET
cblr-2899	95	27	entities	entity	NOUN
cblr-2899	95	28	that	that	PRON
cblr-2899	95	29	pay	pay	VERB
cblr-2899	95	30	the	the	DET
cblr-2899	95	31	rating	rating	NOUN
cblr-2899	95	32	agencies	agency	NOUN
cblr-2899	95	33	to	to	PART
cblr-2899	95	34	rate	rate	VERB
cblr-2899	95	35	their	their	PRON
cblr-2899	95	36	products	product	NOUN
cblr-2899	95	37	.	.	PUNCT
cblr-2899	96	1	essentially	essentially	ADV
cblr-2899	96	2	,	,	PUNCT
cblr-2899	96	3	clients	client	NOUN
cblr-2899	96	4	pay	pay	VERB
cblr-2899	96	5	to	to	PART
cblr-2899	96	6	have	have	VERB
cblr-2899	96	7	their	their	PRON
cblr-2899	96	8	products	product	NOUN
cblr-2899	96	9	rated	rate	VERB
cblr-2899	96	10	in	in	ADP
cblr-2899	96	11	a	a	DET
cblr-2899	96	12	market	market	NOUN
cblr-2899	96	13	in	in	ADP
cblr-2899	96	14	which	which	PRON
cblr-2899	96	15	the	the	DET
cblr-2899	96	16	value	value	NOUN
cblr-2899	96	17	of	of	ADP
cblr-2899	96	18	the	the	DET
cblr-2899	96	19	product	product	NOUN
cblr-2899	96	20	-	-	PUNCT
cblr-2899	96	21	and	and	CCONJ
cblr-2899	96	22	therefore	therefore	ADV
cblr-2899	96	23	the	the	DET
cblr-2899	96	24	cost	cost	NOUN
cblr-2899	96	25	of	of	ADP
cblr-2899	96	26	borrowing	borrowing	NOUN
cblr-2899	96	27	-	-	PUNCT
cblr-2899	96	28	is	be	AUX
cblr-2899	96	29	highly	highly	ADV
cblr-2899	96	30	dependent	dependent	ADJ
cblr-2899	96	31	on	on	ADP
cblr-2899	96	32	the	the	DET
cblr-2899	96	33	rating	rating	NOUN
cblr-2899	96	34	it	it	PRON
cblr-2899	96	35	is	be	AUX
cblr-2899	96	36	given	give	VERB
cblr-2899	96	37	.	.	PUNCT
cblr-2899	97	1	cras	cras	PROPN
cblr-2899	97	2	may	may	AUX
cblr-2899	97	3	thus	thus	ADV
cblr-2899	97	4	be	be	AUX
cblr-2899	97	5	inclined	incline	VERB
cblr-2899	97	6	to	to	PART
cblr-2899	97	7	inflate	inflate	VERB
cblr-2899	97	8	the	the	DET
cblr-2899	97	9	client	client	NOUN
cblr-2899	97	10	's	's	PART
cblr-2899	97	11	rating	rating	NOUN
cblr-2899	97	12	,	,	PUNCT
cblr-2899	97	13	or	or	CCONJ
cblr-2899	97	14	fail	fail	VERB
cblr-2899	97	15	to	to	PART
cblr-2899	97	16	downgrade	downgrade	VERB
cblr-2899	97	17	a	a	DET
cblr-2899	97	18	security	security	NOUN
cblr-2899	97	19	,	,	PUNCT
cblr-2899	97	20	in	in	ADP
cblr-2899	97	21	order	order	NOUN
cblr-2899	97	22	to	to	PART
cblr-2899	97	23	appease	appease	VERB
cblr-2899	97	24	the	the	DET
cblr-2899	97	25	client	client	NOUN
cblr-2899	97	26	,	,	PUNCT
cblr-2899	97	27	maintain	maintain	VERB
cblr-2899	97	28	a	a	DET
cblr-2899	97	29	good	good	ADJ
cblr-2899	97	30	relationship	relationship	NOUN
cblr-2899	97	31	,	,	PUNCT
cblr-2899	97	32	and	and	CCONJ
cblr-2899	97	33	facilitate	facilitate	VERB
cblr-2899	97	34	future	future	ADJ
cblr-2899	97	35	business	business	NOUN
cblr-2899	97	36	.	.	PUNCT
cblr-2899	98	1	this	this	DET
cblr-2899	98	2	conflict	conflict	NOUN
cblr-2899	98	3	becomes	become	VERB
cblr-2899	98	4	more	more	ADV
cblr-2899	98	5	serious	serious	ADJ
cblr-2899	98	6	when	when	SCONJ
cblr-2899	98	7	the	the	DET
cblr-2899	98	8	client	client	NOUN
cblr-2899	98	9	can	can	AUX
cblr-2899	98	10	credibly	credibly	ADV
cblr-2899	98	11	threaten	threaten	VERB
cblr-2899	98	12	to	to	PART
cblr-2899	98	13	take	take	VERB
cblr-2899	98	14	its	its	PRON
cblr-2899	98	15	business	business	NOUN
cblr-2899	98	16	elsewhere	elsewhere	ADV
cblr-2899	98	17	and	and	CCONJ
cblr-2899	98	18	go	go	VERB
cblr-2899	98	19	"	"	PUNCT
cblr-2899	98	20	rating	rating	NOUN
cblr-2899	98	21	shopping	shopping	NOUN
cblr-2899	98	22	"	"	PUNCT
cblr-2899	98	23	to	to	PART
cblr-2899	98	24	find	find	VERB
cblr-2899	98	25	the	the	DET
cblr-2899	98	26	best	good	ADJ
cblr-2899	98	27	deal	deal	NOUN
cblr-2899	98	28	.	.	PUNCT
cblr-2899	99	1	rating	rating	NOUN
cblr-2899	99	2	shopping	shopping	NOUN
cblr-2899	99	3	concerns	concern	NOUN
cblr-2899	99	4	arise	arise	VERB
cblr-2899	99	5	when	when	SCONJ
cblr-2899	99	6	several	several	ADJ
cblr-2899	99	7	competing	compete	VERB
cblr-2899	99	8	rating	rating	NOUN
cblr-2899	99	9	agencies	agency	NOUN
cblr-2899	99	10	exist	exist	VERB
cblr-2899	99	11	.	.	PUNCT
cblr-2899	100	1	in	in	ADP
cblr-2899	100	2	fact	fact	NOUN
cblr-2899	100	3	,	,	PUNCT
cblr-2899	100	4	studies	study	NOUN
cblr-2899	100	5	show	show	VERB
cblr-2899	100	6	that	that	SCONJ
cblr-2899	100	7	there	there	PRON
cblr-2899	100	8	is	be	VERB
cblr-2899	100	9	a	a	DET
cblr-2899	100	10	correlation	correlation	NOUN
cblr-2899	100	11	between	between	ADP
cblr-2899	100	12	inflated	inflated	ADJ
cblr-2899	100	13	ratings	rating	NOUN
cblr-2899	100	14	and	and	CCONJ
cblr-2899	100	15	increased	increase	VERB
cblr-2899	100	16	competition	competition	NOUN
cblr-2899	100	17	in	in	ADP
cblr-2899	100	18	the	the	DET
cblr-2899	100	19	market.1	market.1	NOUN
cblr-2899	100	20	2	2	NUM
cblr-2899	100	21	interestingly	interestingly	ADV
cblr-2899	100	22	,	,	PUNCT
cblr-2899	100	23	cras	cras	PROPN
cblr-2899	100	24	operated	operate	VERB
cblr-2899	100	25	on	on	ADP
cblr-2899	100	26	an	an	DET
cblr-2899	100	27	investor	investor	NOUN
cblr-2899	100	28	-	-	PUNCT
cblr-2899	100	29	pays	pay	NOUN
cblr-2899	100	30	rather	rather	ADV
cblr-2899	100	31	than	than	ADP
cblr-2899	100	32	issuer	issuer	NOUN
cblr-2899	100	33	-	-	PUNCT
cblr-2899	100	34	pays	pay	VERB
cblr-2899	100	35	basis	basis	NOUN
cblr-2899	100	36	until	until	SCONJ
cblr-2899	100	37	the	the	DET
cblr-2899	100	38	1970s.13	1970s.13	PROPN
cblr-2899	100	39	however	however	ADV
cblr-2899	100	40	,	,	PUNCT
cblr-2899	100	41	freeriding	freeride	VERB
cblr-2899	100	42	problems	problem	NOUN
cblr-2899	100	43	attributable	attributable	ADJ
cblr-2899	100	44	to	to	ADP
cblr-2899	100	45	the	the	DET
cblr-2899	100	46	public	public	ADJ
cblr-2899	100	47	-	-	PUNCT
cblr-2899	100	48	good	good	ADJ
cblr-2899	100	49	nature	nature	NOUN
cblr-2899	100	50	of	of	ADP
cblr-2899	100	51	ratings	rating	NOUN
cblr-2899	100	52	information	information	NOUN
cblr-2899	100	53	made	make	VERB
cblr-2899	100	54	this	this	DET
cblr-2899	100	55	system	system	NOUN
cblr-2899	100	56	unprofitable	unprofitable	ADJ
cblr-2899	100	57	and	and	CCONJ
cblr-2899	100	58	therefore	therefore	ADV
cblr-2899	100	59	unsustainable.1	unsustainable.1	INTJ
cblr-2899	100	60	4	4	NUM
cblr-2899	100	61	ratings	rating	NOUN
cblr-2899	100	62	provided	provide	VERB
cblr-2899	100	63	to	to	ADP
cblr-2899	100	64	investors	investor	NOUN
cblr-2899	100	65	were	be	AUX
cblr-2899	100	66	easily	easily	ADV
cblr-2899	100	67	copied	copy	VERB
cblr-2899	100	68	and	and	CCONJ
cblr-2899	100	69	transferred	transfer	VERB
cblr-2899	100	70	between	between	ADP
cblr-2899	100	71	different	different	ADJ
cblr-2899	100	72	parties.15	parties.15	NOUN
cblr-2899	100	73	this	this	DET
cblr-2899	100	74	development	development	NOUN
cblr-2899	100	75	prompted	prompt	VERB
cblr-2899	100	76	a	a	DET
cblr-2899	100	77	shift	shift	NOUN
cblr-2899	100	78	in	in	ADP
cblr-2899	100	79	cra	cra	PROPN
cblr-2899	100	80	payment	payment	NOUN
cblr-2899	100	81	structure	structure	NOUN
cblr-2899	100	82	to	to	ADP
cblr-2899	100	83	an	an	DET
cblr-2899	100	84	issuer	issuer	NOUN
cblr-2899	100	85	-	-	PUNCT
cblr-2899	100	86	pays	pay	NOUN
cblr-2899	100	87	model	model	NOUN
cblr-2899	100	88	,	,	PUNCT
cblr-2899	100	89	which	which	PRON
cblr-2899	100	90	has	have	AUX
cblr-2899	100	91	been	be	AUX
cblr-2899	100	92	in	in	ADP
cblr-2899	100	93	place	place	NOUN
cblr-2899	100	94	ever	ever	ADV
cblr-2899	100	95	since	since	ADV
cblr-2899	100	96	,	,	PUNCT
cblr-2899	100	97	and	and	CCONJ
cblr-2899	100	98	has	have	AUX
cblr-2899	100	99	now	now	ADV
cblr-2899	100	100	proven	prove	VERB
cblr-2899	100	101	to	to	PART
cblr-2899	100	102	be	be	AUX
cblr-2899	100	103	especially	especially	ADV
cblr-2899	100	104	problematic	problematic	ADJ
cblr-2899	100	105	for	for	ADP
cblr-2899	100	106	structured	structured	ADJ
cblr-2899	100	107	debt	debt	NOUN
cblr-2899	100	108	.	.	PUNCT
cblr-2899	101	1	16	16	NUM
cblr-2899	101	2	12	12	NUM
cblr-2899	101	3	see	see	VERB
cblr-2899	101	4	bo	bo	PROPN
cblr-2899	101	5	becker	becker	PROPN
cblr-2899	101	6	&	&	CCONJ
cblr-2899	101	7	todd	todd	PROPN
cblr-2899	101	8	milbourn	milbourn	PROPN
cblr-2899	101	9	,	,	PUNCT
cblr-2899	101	10	how	how	SCONJ
cblr-2899	101	11	did	do	AUX
cblr-2899	101	12	increased	increase	VERB
cblr-2899	101	13	competition	competition	NOUN
cblr-2899	101	14	affect	affect	VERB
cblr-2899	101	15	credit	credit	NOUN
cblr-2899	101	16	ratings	rating	NOUN
cblr-2899	101	17	?	?	PUNCT
cblr-2899	102	1	8	8	NUM
cblr-2899	102	2	,	,	PUNCT
cblr-2899	102	3	30	30	NUM
cblr-2899	102	4	(	(	PUNCT
cblr-2899	102	5	harv	harv	NOUN
cblr-2899	102	6	.	.	PUNCT
cblr-2899	103	1	bus	bus	NOUN
cblr-2899	103	2	.	.	PUNCT
cblr-2899	104	1	sch	sch	PROPN
cblr-2899	104	2	.	.	PROPN
cblr-2899	104	3	,	,	PUNCT
cblr-2899	104	4	working	work	VERB
cblr-2899	104	5	paper	paper	NOUN
cblr-2899	104	6	no	no	INTJ
cblr-2899	104	7	.	.	PROPN
cblr-2899	104	8	09	09	NUM
cblr-2899	104	9	-	-	PUNCT
cblr-2899	104	10	051	051	NUM
cblr-2899	104	11	,	,	PUNCT
cblr-2899	104	12	2010	2010	NUM
cblr-2899	104	13	)	)	PUNCT
cblr-2899	104	14	,	,	PUNCT
cblr-2899	104	15	available	available	ADJ
cblr-2899	104	16	at	at	ADP
cblr-2899	104	17	www.hbs.edu/research/pdf/09-051.pdf	www.hbs.edu/research/pdf/09-051.pdf	NOUN
cblr-2899	104	18	.	.	PUNCT
cblr-2899	105	1	13	13	NUM
cblr-2899	105	2	oecd	oecd	PROPN
cblr-2899	105	3	hearing	hearing	NOUN
cblr-2899	105	4	,	,	PUNCT
cblr-2899	105	5	supra	supra	PROPN
cblr-2899	105	6	note	note	NOUN
cblr-2899	105	7	4	4	NUM
cblr-2899	105	8	,	,	PUNCT
cblr-2899	105	9	at	at	ADP
cblr-2899	105	10	6	6	NUM
cblr-2899	105	11	.	.	NOUN
cblr-2899	105	12	14	14	NUM
cblr-2899	105	13	see	see	VERB
cblr-2899	105	14	i	i	PRON
cblr-2899	105	15	d.	d.	PROPN
cblr-2899	105	16	15	15	NUM
cblr-2899	106	1	i	i	PRON
cblr-2899	106	2	d.	d.	PROPN
cblr-2899	106	3	16	16	NUM
cblr-2899	106	4	not	not	PART
cblr-2899	106	5	all	all	DET
cblr-2899	106	6	cras	cras	X
cblr-2899	106	7	operate	operate	VERB
cblr-2899	106	8	this	this	DET
cblr-2899	106	9	way	way	NOUN
cblr-2899	106	10	.	.	PUNCT
cblr-2899	107	1	out	out	ADP
cblr-2899	107	2	of	of	ADP
cblr-2899	107	3	the	the	DET
cblr-2899	107	4	now	now	ADV
cblr-2899	107	5	nine	nine	NUM
cblr-2899	107	6	agencies	agency	NOUN
cblr-2899	107	7	the	the	DET
cblr-2899	107	8	sec	sec	PROPN
cblr-2899	107	9	has	have	AUX
cblr-2899	107	10	recognized	recognize	VERB
cblr-2899	107	11	as	as	ADP
cblr-2899	107	12	nationally	nationally	ADV
cblr-2899	107	13	recognized	recognize	VERB
cblr-2899	107	14	statistical	statistical	ADJ
cblr-2899	107	15	rating	rating	NOUN
cblr-2899	107	16	organizations	organization	NOUN
cblr-2899	107	17	"	"	PUNCT
cblr-2899	107	18	nrsros	nrsro	NOUN
cblr-2899	107	19	"	"	PUNCT
cblr-2899	107	20	,	,	PUNCT
cblr-2899	107	21	three	three	NUM
cblr-2899	107	22	operate	operate	VERB
cblr-2899	107	23	on	on	ADP
cblr-2899	107	24	an	an	DET
cblr-2899	107	25	investor	investor	NOUN
cblr-2899	107	26	-	-	PUNCT
cblr-2899	107	27	pay	pay	NOUN
cblr-2899	107	28	basis	basis	NOUN
cblr-2899	107	29	.	.	PUNCT
cblr-2899	108	1	sec	sec	PROPN
cblr-2899	108	2	,	,	PUNCT
cblr-2899	108	3	annual	annual	ADJ
cblr-2899	108	4	report	report	NOUN
cblr-2899	108	5	on	on	ADP
cblr-2899	108	6	nationally	nationally	ADV
cblr-2899	108	7	recognized	recognize	VERB
cblr-2899	108	8	statistical	statistical	ADJ
cblr-2899	108	9	rating	rating	NOUN
cblr-2899	108	10	organizations	organization	NOUN
cblr-2899	108	11	6	6	NUM
cblr-2899	108	12	(	(	PUNCT
cblr-2899	108	13	2011	2011	NUM
cblr-2899	108	14	)	)	PUNCT
cblr-2899	109	1	[	[	X
cblr-2899	109	2	hereinafter	hereinafter	NOUN
cblr-2899	109	3	sec	sec	PROPN
cblr-2899	109	4	annual	annual	ADJ
cblr-2899	109	5	report	report	NOUN
cblr-2899	109	6	]	]	PUNCT
cblr-2899	109	7	,	,	PUNCT
cblr-2899	109	8	available	available	ADJ
cblr-2899	109	9	at	at	ADP
cblr-2899	109	10	www.sec.gov/divisions/marketreg/ratingagency/nrsroannrep011l.pdf	www.sec.gov/divisions/marketreg/ratingagency/nrsroannrep011l.pdf	PROPN
cblr-2899	109	11	.	.	PUNCT
cblr-2899	110	1	no	no	INTJ
cblr-2899	110	2	.	.	NOUN
cblr-2899	111	1	3:994	3:994	NUM
cblr-2899	111	2	]	]	SYM
cblr-2899	111	3	1001	1001	NUM
cblr-2899	111	4	columbia	columbia	PROPN
cblr-2899	111	5	business	business	NOUN
cblr-2899	111	6	law	law	PROPN
cblr-2899	111	7	review	review	VERB
cblr-2899	111	8	b.	b.	PROPN
cblr-2899	111	9	growth	growth	NOUN
cblr-2899	111	10	of	of	ADP
cblr-2899	111	11	securitization	securitization	NOUN
cblr-2899	111	12	and	and	CCONJ
cblr-2899	111	13	structured	structure	VERB
cblr-2899	111	14	finance	finance	NOUN
cblr-2899	111	15	products	product	NOUN
cblr-2899	111	16	the	the	DET
cblr-2899	111	17	growth	growth	NOUN
cblr-2899	111	18	of	of	ADP
cblr-2899	111	19	securitization	securitization	NOUN
cblr-2899	111	20	and	and	CCONJ
cblr-2899	111	21	structured	structure	VERB
cblr-2899	111	22	finance	finance	NOUN
cblr-2899	111	23	greatly	greatly	ADV
cblr-2899	111	24	changed	change	VERB
cblr-2899	111	25	the	the	DET
cblr-2899	111	26	environment	environment	NOUN
cblr-2899	111	27	in	in	ADP
cblr-2899	111	28	which	which	PRON
cblr-2899	111	29	rating	rating	NOUN
cblr-2899	111	30	agencies	agency	NOUN
cblr-2899	111	31	operated	operate	VERB
cblr-2899	111	32	and	and	CCONJ
cblr-2899	111	33	increased	increase	VERB
cblr-2899	111	34	the	the	DET
cblr-2899	111	35	potential	potential	NOUN
cblr-2899	111	36	for	for	ADP
cblr-2899	111	37	conflicts	conflict	NOUN
cblr-2899	111	38	of	of	ADP
cblr-2899	111	39	interest	interest	NOUN
cblr-2899	111	40	,	,	PUNCT
cblr-2899	111	41	especially	especially	ADV
cblr-2899	111	42	given	give	VERB
cblr-2899	111	43	the	the	DET
cblr-2899	111	44	volume	volume	NOUN
cblr-2899	111	45	of	of	ADP
cblr-2899	111	46	business	business	NOUN
cblr-2899	111	47	that	that	PRON
cblr-2899	111	48	developed	develop	VERB
cblr-2899	111	49	.	.	PUNCT
cblr-2899	112	1	essentially	essentially	ADV
cblr-2899	112	2	,	,	PUNCT
cblr-2899	112	3	mortgage	mortgage	NOUN
cblr-2899	112	4	securitization	securitization	NOUN
cblr-2899	112	5	involves	involve	VERB
cblr-2899	112	6	packaging	package	VERB
cblr-2899	112	7	large	large	ADJ
cblr-2899	112	8	numbers	number	NOUN
cblr-2899	112	9	of	of	ADP
cblr-2899	112	10	cash	cash	NOUN
cblr-2899	112	11	flows	flow	NOUN
cblr-2899	112	12	from	from	ADP
cblr-2899	112	13	individual	individual	ADJ
cblr-2899	112	14	mortgage	mortgage	NOUN
cblr-2899	112	15	loans	loan	NOUN
cblr-2899	112	16	into	into	ADP
cblr-2899	112	17	products	product	NOUN
cblr-2899	112	18	called	call	VERB
cblr-2899	112	19	residential	residential	ADJ
cblr-2899	112	20	mortgage	mortgage	NOUN
cblr-2899	112	21	-	-	PUNCT
cblr-2899	112	22	backed	back	VERB
cblr-2899	112	23	securities	security	NOUN
cblr-2899	112	24	(	(	PUNCT
cblr-2899	112	25	"	"	PUNCT
cblr-2899	112	26	rmbs	rmbs	X
cblr-2899	112	27	"	"	PUNCT
cblr-2899	112	28	)	)	PUNCT
cblr-2899	112	29	.	.	PUNCT
cblr-2899	113	1	these	these	DET
cblr-2899	113	2	pooled	pool	VERB
cblr-2899	113	3	mortgages	mortgage	NOUN
cblr-2899	113	4	are	be	AUX
cblr-2899	113	5	separated	separate	VERB
cblr-2899	113	6	into	into	ADP
cblr-2899	113	7	different	different	ADJ
cblr-2899	113	8	tranches	tranche	NOUN
cblr-2899	113	9	of	of	ADP
cblr-2899	113	10	debt	debt	NOUN
cblr-2899	113	11	and	and	CCONJ
cblr-2899	113	12	each	each	DET
cblr-2899	113	13	tranche	tranche	NOUN
cblr-2899	113	14	is	be	AUX
cblr-2899	113	15	rated	rate	VERB
cblr-2899	113	16	by	by	ADP
cblr-2899	113	17	the	the	DET
cblr-2899	113	18	cras	cra	NOUN
cblr-2899	113	19	.	.	PUNCT
cblr-2899	114	1	7	7	NUM
cblr-2899	114	2	the	the	DET
cblr-2899	114	3	top	top	ADJ
cblr-2899	114	4	tranche	tranche	NOUN
cblr-2899	114	5	is	be	AUX
cblr-2899	114	6	given	give	VERB
cblr-2899	114	7	the	the	DET
cblr-2899	114	8	highest	high	ADJ
cblr-2899	114	9	rating	rating	NOUN
cblr-2899	114	10	,	,	PUNCT
cblr-2899	114	11	because	because	SCONJ
cblr-2899	114	12	it	it	PRON
cblr-2899	114	13	has	have	VERB
cblr-2899	114	14	priority	priority	NOUN
cblr-2899	114	15	access	access	NOUN
cblr-2899	114	16	to	to	ADP
cblr-2899	114	17	the	the	DET
cblr-2899	114	18	cash	cash	NOUN
cblr-2899	114	19	flows	flow	NOUN
cblr-2899	114	20	from	from	ADP
cblr-2899	114	21	the	the	DET
cblr-2899	114	22	pooled	pooled	ADJ
cblr-2899	114	23	loans	loan	NOUN
cblr-2899	114	24	;	;	PUNCT
cblr-2899	114	25	the	the	DET
cblr-2899	114	26	lowest	low	ADJ
cblr-2899	114	27	tranche	tranche	NOUN
cblr-2899	114	28	receives	receive	VERB
cblr-2899	114	29	the	the	DET
cblr-2899	114	30	lowest	low	ADJ
cblr-2899	114	31	rating	rating	NOUN
cblr-2899	114	32	because	because	SCONJ
cblr-2899	114	33	it	it	PRON
cblr-2899	114	34	has	have	VERB
cblr-2899	114	35	the	the	DET
cblr-2899	114	36	lowest	low	ADJ
cblr-2899	114	37	priority	priority	NOUN
cblr-2899	114	38	and	and	CCONJ
cblr-2899	114	39	,	,	PUNCT
cblr-2899	114	40	consequently	consequently	ADV
cblr-2899	114	41	,	,	PUNCT
cblr-2899	114	42	the	the	DET
cblr-2899	114	43	highest	high	ADJ
cblr-2899	114	44	risk	risk	NOUN
cblr-2899	114	45	.	.	PUNCT
cblr-2899	115	1	the	the	DET
cblr-2899	115	2	big	big	ADJ
cblr-2899	115	3	problem	problem	NOUN
cblr-2899	115	4	was	be	AUX
cblr-2899	115	5	that	that	SCONJ
cblr-2899	115	6	cras	cras	PROPN
cblr-2899	115	7	began	begin	VERB
cblr-2899	115	8	marketing	market	VERB
cblr-2899	115	9	advisory	advisory	ADJ
cblr-2899	115	10	and	and	CCONJ
cblr-2899	115	11	consulting	consult	VERB
cblr-2899	115	12	services	service	NOUN
cblr-2899	115	13	to	to	ADP
cblr-2899	115	14	clients	client	NOUN
cblr-2899	115	15	-	-	PUNCT
cblr-2899	115	16	the	the	DET
cblr-2899	115	17	issuers	issuer	NOUN
cblr-2899	115	18	-	-	PUNCT
cblr-2899	115	19	to	to	PART
cblr-2899	115	20	attract	attract	VERB
cblr-2899	115	21	their	their	PRON
cblr-2899	115	22	business	business	NOUN
cblr-2899	115	23	.	.	PUNCT
cblr-2899	115	24	'	'	PUNCT
cblr-2899	116	1	"	"	PUNCT
cblr-2899	116	2	they	they	PRON
cblr-2899	116	3	advised	advise	VERB
cblr-2899	116	4	issuers	issuer	NOUN
cblr-2899	116	5	on	on	ADP
cblr-2899	116	6	how	how	SCONJ
cblr-2899	116	7	to	to	PART
cblr-2899	116	8	obtain	obtain	VERB
cblr-2899	116	9	their	their	PRON
cblr-2899	116	10	desired	desire	VERB
cblr-2899	116	11	rating	rating	NOUN
cblr-2899	116	12	using	use	VERB
cblr-2899	116	13	the	the	DET
cblr-2899	116	14	riskiest	risky	ADJ
cblr-2899	116	15	loans	loan	NOUN
cblr-2899	116	16	that	that	PRON
cblr-2899	116	17	would	would	AUX
cblr-2899	116	18	meet	meet	VERB
cblr-2899	116	19	the	the	DET
cblr-2899	116	20	threshold	threshold	NOUN
cblr-2899	116	21	requirements	requirement	NOUN
cblr-2899	116	22	for	for	ADP
cblr-2899	116	23	the	the	DET
cblr-2899	116	24	desired	desire	VERB
cblr-2899	116	25	rating	rating	NOUN
cblr-2899	116	26	for	for	ADP
cblr-2899	116	27	each	each	DET
cblr-2899	116	28	tranche	tranche	NOUN
cblr-2899	116	29	.	.	PUNCT
cblr-2899	116	30	'9	'9	NOUN
cblr-2899	117	1	although	although	SCONJ
cblr-2899	117	2	they	they	PRON
cblr-2899	117	3	advised	advise	VERB
cblr-2899	117	4	on	on	ADP
cblr-2899	117	5	how	how	SCONJ
cblr-2899	117	6	to	to	PART
cblr-2899	117	7	structure	structure	NOUN
cblr-2899	117	8	tranches	tranche	NOUN
cblr-2899	117	9	,	,	PUNCT
cblr-2899	117	10	they	they	PRON
cblr-2899	117	11	did	do	AUX
cblr-2899	117	12	not	not	PART
cblr-2899	117	13	perform	perform	VERB
cblr-2899	117	14	due	due	ADJ
cblr-2899	117	15	diligence	diligence	NOUN
cblr-2899	117	16	with	with	ADP
cblr-2899	117	17	respect	respect	NOUN
cblr-2899	117	18	to	to	ADP
cblr-2899	117	19	the	the	DET
cblr-2899	117	20	underlying	underlie	VERB
cblr-2899	117	21	securities	security	NOUN
cblr-2899	117	22	;	;	PUNCT
cblr-2899	117	23	they	they	PRON
cblr-2899	117	24	simply	simply	ADV
cblr-2899	117	25	accepted	accept	VERB
cblr-2899	117	26	the	the	DET
cblr-2899	117	27	originators	originator	NOUN
cblr-2899	117	28	'	'	PART
cblr-2899	117	29	assumptions	assumption	NOUN
cblr-2899	117	30	with	with	ADP
cblr-2899	117	31	respect	respect	NOUN
cblr-2899	117	32	to	to	ADP
cblr-2899	117	33	the	the	DET
cblr-2899	117	34	likelihood	likelihood	NOUN
cblr-2899	117	35	of	of	ADP
cblr-2899	117	36	default.20	default.20	PROPN
cblr-2899	117	37	this	this	DET
cblr-2899	117	38	cozy	cozy	ADJ
cblr-2899	117	39	relationship	relationship	NOUN
cblr-2899	117	40	gave	give	VERB
cblr-2899	117	41	issuers	issuer	NOUN
cblr-2899	117	42	the	the	DET
cblr-2899	117	43	ability	ability	NOUN
cblr-2899	117	44	to	to	PART
cblr-2899	117	45	take	take	VERB
cblr-2899	117	46	advantage	advantage	NOUN
cblr-2899	117	47	of	of	ADP
cblr-2899	117	48	loopholes	loophole	NOUN
cblr-2899	117	49	in	in	ADP
cblr-2899	117	50	the	the	DET
cblr-2899	117	51	models	model	NOUN
cblr-2899	117	52	used	use	VERB
cblr-2899	117	53	by	by	ADP
cblr-2899	117	54	the	the	DET
cblr-2899	117	55	very	very	ADV
cblr-2899	117	56	rating	rating	NOUN
cblr-2899	117	57	agencies	agency	NOUN
cblr-2899	117	58	they	they	PRON
cblr-2899	117	59	hired	hire	VERB
cblr-2899	117	60	to	to	PART
cblr-2899	117	61	rate	rate	VERB
cblr-2899	117	62	their	their	PRON
cblr-2899	117	63	products	product	NOUN
cblr-2899	117	64	.	.	PUNCT
cblr-2899	118	1	for	for	ADP
cblr-2899	118	2	example	example	NOUN
cblr-2899	118	3	,	,	PUNCT
cblr-2899	118	4	obtaining	obtain	VERB
cblr-2899	118	5	an	an	DET
cblr-2899	118	6	aaa	aaa	NOUN
cblr-2899	118	7	rating	rating	NOUN
cblr-2899	118	8	required	require	VERB
cblr-2899	118	9	that	that	SCONJ
cblr-2899	118	10	the	the	DET
cblr-2899	118	11	pool	pool	NOUN
cblr-2899	118	12	of	of	ADP
cblr-2899	118	13	loans	loan	NOUN
cblr-2899	118	14	have	have	VERB
cblr-2899	118	15	an	an	DET
cblr-2899	118	16	average	average	ADJ
cblr-2899	118	17	fico	fico	NOUN
cblr-2899	118	18	score	score	NOUN
cblr-2899	118	19	of	of	ADP
cblr-2899	118	20	615.21	615.21	NUM
cblr-2899	118	21	originators	originator	NOUN
cblr-2899	118	22	17	17	NUM
cblr-2899	118	23	michael	michael	PROPN
cblr-2899	118	24	lewis	lewis	PROPN
cblr-2899	118	25	,	,	PUNCT
cblr-2899	118	26	the	the	DET
cblr-2899	118	27	big	big	ADJ
cblr-2899	118	28	short	short	ADJ
cblr-2899	118	29	23	23	NUM
cblr-2899	118	30	-	-	SYM
cblr-2899	118	31	28	28	NUM
cblr-2899	118	32	(	(	PUNCT
cblr-2899	118	33	1st	1st	ADJ
cblr-2899	118	34	ed	ed	NOUN
cblr-2899	118	35	.	.	PUNCT
cblr-2899	118	36	2010	2010	NUM
cblr-2899	118	37	)	)	PUNCT
cblr-2899	118	38	.	.	PUNCT
cblr-2899	119	1	18	18	NUM
cblr-2899	119	2	turmoil	turmoil	NOUN
cblr-2899	119	3	in	in	ADP
cblr-2899	119	4	the	the	DET
cblr-2899	119	5	u.s	u.s	PROPN
cblr-2899	119	6	.	.	PROPN
cblr-2899	119	7	credit	credit	NOUN
cblr-2899	119	8	markets	market	NOUN
cblr-2899	119	9	:	:	PUNCT
cblr-2899	119	10	the	the	DET
cblr-2899	119	11	role	role	NOUN
cblr-2899	119	12	of	of	ADP
cblr-2899	119	13	the	the	DET
cblr-2899	119	14	credit	credit	NOUN
cblr-2899	119	15	rating	rating	NOUN
cblr-2899	119	16	agencies	agency	NOUN
cblr-2899	119	17	:	:	PUNCT
cblr-2899	119	18	hearing	hear	VERB
cblr-2899	119	19	before	before	ADP
cblr-2899	119	20	the	the	DET
cblr-2899	119	21	s.	s.	PROPN
cblr-2899	119	22	comm	comm	NOUN
cblr-2899	119	23	.	.	PUNCT
cblr-2899	120	1	on	on	ADP
cblr-2899	120	2	banking	banking	NOUN
cblr-2899	120	3	,	,	PUNCT
cblr-2899	120	4	hous	hous	ADJ
cblr-2899	120	5	.	.	PUNCT
cblr-2899	121	1	&	&	CCONJ
cblr-2899	121	2	urban	urban	PROPN
cblr-2899	121	3	affairs	affairs	PROPN
cblr-2899	121	4	,	,	PUNCT
cblr-2899	121	5	1	1	NUM
cblr-2899	121	6	1	1	NUM
cblr-2899	121	7	0	0	NUM
cblr-2899	121	8	th	th	NUM
cblr-2899	121	9	cong	cong	NOUN
cblr-2899	121	10	.	.	PUNCT
cblr-2899	122	1	2	2	NUM
cblr-2899	122	2	(	(	PUNCT
cblr-2899	122	3	2008	2008	NUM
cblr-2899	122	4	)	)	PUNCT
cblr-2899	123	1	[	[	X
cblr-2899	123	2	hereinafter	hereinafter	NOUN
cblr-2899	123	3	2008	2008	NUM
cblr-2899	123	4	hearings	hearing	NOUN
cblr-2899	123	5	]	]	PUNCT
cblr-2899	123	6	(	(	PUNCT
cblr-2899	123	7	statement	statement	NOUN
cblr-2899	123	8	of	of	ADP
cblr-2899	123	9	john	john	PROPN
cblr-2899	123	10	c.	c.	PROPN
cblr-2899	123	11	coffee	coffee	PROPN
cblr-2899	123	12	,	,	PUNCT
cblr-2899	123	13	jr	jr	PROPN
cblr-2899	123	14	.	.	PROPN
cblr-2899	123	15	,	,	PUNCT
cblr-2899	123	16	professor	professor	PROPN
cblr-2899	123	17	,	,	PUNCT
cblr-2899	123	18	columbia	columbia	PROPN
cblr-2899	123	19	university	university	PROPN
cblr-2899	123	20	school	school	NOUN
cblr-2899	123	21	of	of	ADP
cblr-2899	123	22	law	law	NOUN
cblr-2899	123	23	)	)	PUNCT
cblr-2899	123	24	,	,	PUNCT
cblr-2899	123	25	available	available	ADJ
cblr-2899	123	26	at	at	ADP
cblr-2899	123	27	http://banking.senate.gov/public/_files/opgstmtcoffeesenate	http://banking.senate.gov/public/_files/opgstmtcoffeesenate	PROPN
cblr-2899	123	28	testimonyturmoilintheuscreditmarkets.pdf	testimonyturmoilintheuscreditmarkets.pdf	NUM
cblr-2899	123	29	.	.	NOUN
cblr-2899	123	30	19	19	NUM
cblr-2899	123	31	see	see	VERB
cblr-2899	123	32	i	i	PRON
cblr-2899	123	33	d.	d.	PROPN
cblr-2899	123	34	at	at	ADP
cblr-2899	123	35	12	12	NUM
cblr-2899	123	36	-	-	SYM
cblr-2899	123	37	13	13	NUM
cblr-2899	123	38	.	.	NOUN
cblr-2899	123	39	20	20	NUM
cblr-2899	123	40	see	see	VERB
cblr-2899	123	41	infra	infra	NOUN
cblr-2899	123	42	part	part	NOUN
cblr-2899	123	43	iii.d	iii.d	PROPN
cblr-2899	123	44	.	.	PROPN
cblr-2899	123	45	21	21	NUM
cblr-2899	123	46	see	see	VERB
cblr-2899	123	47	lewis	lewis	PROPN
cblr-2899	123	48	,	,	PUNCT
cblr-2899	123	49	supra	supra	PROPN
cblr-2899	123	50	note	note	PROPN
cblr-2899	123	51	17	17	NUM
cblr-2899	123	52	,	,	PUNCT
cblr-2899	123	53	at	at	ADP
cblr-2899	123	54	99	99	NUM
cblr-2899	123	55	.	.	PUNCT
cblr-2899	123	56	1002	1002	NUM
cblr-2899	124	1	[	[	X
cblr-2899	124	2	vol	vol	NOUN
cblr-2899	124	3	.	.	PUNCT
cblr-2899	124	4	2012	2012	NUM
cblr-2899	124	5	regulating	regulate	VERB
cblr-2899	124	6	credit	credit	NOUN
cblr-2899	124	7	rating	rating	NOUN
cblr-2899	124	8	agencies	agency	NOUN
cblr-2899	124	9	would	would	AUX
cblr-2899	124	10	take	take	VERB
cblr-2899	124	11	advantage	advantage	NOUN
cblr-2899	124	12	of	of	ADP
cblr-2899	124	13	this	this	PRON
cblr-2899	124	14	by	by	ADP
cblr-2899	124	15	creating	create	VERB
cblr-2899	124	16	pools	pool	NOUN
cblr-2899	124	17	of	of	ADP
cblr-2899	124	18	loans	loan	NOUN
cblr-2899	124	19	of	of	ADP
cblr-2899	124	20	which	which	PRON
cblr-2899	124	21	over	over	ADP
cblr-2899	124	22	half	half	NOUN
cblr-2899	124	23	had	have	VERB
cblr-2899	124	24	scores	score	NOUN
cblr-2899	124	25	lower	low	ADJ
cblr-2899	124	26	than	than	ADP
cblr-2899	124	27	615	615	NUM
cblr-2899	124	28	,	,	PUNCT
cblr-2899	124	29	with	with	ADP
cblr-2899	124	30	the	the	DET
cblr-2899	124	31	balance	balance	NOUN
cblr-2899	124	32	having	have	VERB
cblr-2899	124	33	fico	fico	NOUN
cblr-2899	124	34	scores	score	NOUN
cblr-2899	124	35	high	high	ADJ
cblr-2899	124	36	enough	enough	ADV
cblr-2899	124	37	to	to	PART
cblr-2899	124	38	bring	bring	VERB
cblr-2899	124	39	the	the	DET
cblr-2899	124	40	average	average	NOUN
cblr-2899	124	41	to	to	ADP
cblr-2899	124	42	615.22	615.22	NUM
cblr-2899	124	43	clearly	clearly	ADV
cblr-2899	124	44	,	,	PUNCT
cblr-2899	124	45	a	a	DET
cblr-2899	124	46	pool	pool	NOUN
cblr-2899	124	47	of	of	ADP
cblr-2899	124	48	loans	loan	NOUN
cblr-2899	124	49	in	in	ADP
cblr-2899	124	50	which	which	PRON
cblr-2899	124	51	half	half	DET
cblr-2899	124	52	the	the	DET
cblr-2899	124	53	borrowers	borrower	NOUN
cblr-2899	124	54	have	have	VERB
cblr-2899	124	55	fico	fico	NOUN
cblr-2899	124	56	scores	score	NOUN
cblr-2899	124	57	lower	low	ADJ
cblr-2899	124	58	than	than	ADP
cblr-2899	124	59	615	615	NUM
cblr-2899	124	60	has	have	AUX
cblr-2899	124	61	a	a	DET
cblr-2899	124	62	greater	great	ADJ
cblr-2899	124	63	default	default	NOUN
cblr-2899	124	64	rate	rate	NOUN
cblr-2899	124	65	than	than	ADP
cblr-2899	124	66	a	a	DET
cblr-2899	124	67	pool	pool	NOUN
cblr-2899	124	68	of	of	ADP
cblr-2899	124	69	loans	loan	NOUN
cblr-2899	124	70	where	where	SCONJ
cblr-2899	124	71	most	most	ADJ
cblr-2899	124	72	scores	score	NOUN
cblr-2899	124	73	are	be	AUX
cblr-2899	124	74	actually	actually	ADV
cblr-2899	124	75	at	at	ADP
cblr-2899	124	76	615yet	615yet	ADP
cblr-2899	124	77	they	they	PRON
cblr-2899	124	78	were	be	AUX
cblr-2899	124	79	rated	rate	VERB
cblr-2899	124	80	the	the	DET
cblr-2899	124	81	same	same	ADJ
cblr-2899	124	82	way.23	way.23	NOUN
cblr-2899	124	83	additionally	additionally	ADV
cblr-2899	124	84	,	,	PUNCT
cblr-2899	124	85	the	the	DET
cblr-2899	124	86	issuers	issuer	NOUN
cblr-2899	124	87	used	use	VERB
cblr-2899	124	88	loans	loan	NOUN
cblr-2899	124	89	given	give	VERB
cblr-2899	124	90	to	to	ADP
cblr-2899	124	91	people	people	NOUN
cblr-2899	124	92	with	with	ADP
cblr-2899	124	93	"	"	PUNCT
cblr-2899	124	94	thin	thin	ADJ
cblr-2899	124	95	-	-	PUNCT
cblr-2899	124	96	file	file	NOUN
cblr-2899	124	97	"	"	PUNCT
cblr-2899	124	98	fico	fico	NOUN
cblr-2899	124	99	scores	score	NOUN
cblr-2899	124	100	that	that	PRON
cblr-2899	124	101	appeared	appear	VERB
cblr-2899	124	102	to	to	PART
cblr-2899	124	103	be	be	AUX
cblr-2899	124	104	relatively	relatively	ADV
cblr-2899	124	105	high	high	ADJ
cblr-2899	124	106	scores	score	NOUN
cblr-2899	124	107	only	only	ADV
cblr-2899	124	108	because	because	SCONJ
cblr-2899	124	109	of	of	ADP
cblr-2899	124	110	a	a	DET
cblr-2899	124	111	lack	lack	NOUN
cblr-2899	124	112	of	of	ADP
cblr-2899	124	113	credit	credit	NOUN
cblr-2899	124	114	history.24	history.24	NOUN
cblr-2899	124	115	the	the	DET
cblr-2899	124	116	markets	market	NOUN
cblr-2899	124	117	'	'	PART
cblr-2899	124	118	exposure	exposure	NOUN
cblr-2899	124	119	to	to	ADP
cblr-2899	124	120	the	the	DET
cblr-2899	124	121	risk	risk	NOUN
cblr-2899	124	122	of	of	ADP
cblr-2899	124	123	inaccurate	inaccurate	ADJ
cblr-2899	124	124	ratings	rating	NOUN
cblr-2899	124	125	was	be	AUX
cblr-2899	124	126	further	far	ADV
cblr-2899	124	127	magnified	magnify	VERB
cblr-2899	124	128	when	when	SCONJ
cblr-2899	124	129	the	the	DET
cblr-2899	124	130	rmbs	rmb	NOUN
cblr-2899	124	131	themselves	themselves	PRON
cblr-2899	124	132	were	be	AUX
cblr-2899	124	133	pooled	pool	VERB
cblr-2899	124	134	together	together	ADV
cblr-2899	124	135	and	and	CCONJ
cblr-2899	124	136	packaged	package	VERB
cblr-2899	124	137	into	into	ADP
cblr-2899	124	138	new	new	ADJ
cblr-2899	124	139	financial	financial	ADJ
cblr-2899	124	140	products	product	NOUN
cblr-2899	124	141	such	such	ADJ
cblr-2899	124	142	as	as	ADP
cblr-2899	124	143	collateral	collateral	ADJ
cblr-2899	124	144	debt	debt	NOUN
cblr-2899	124	145	obligations	obligation	NOUN
cblr-2899	124	146	(	(	PUNCT
cblr-2899	124	147	"	"	PUNCT
cblr-2899	124	148	cdos	cdo	NOUN
cblr-2899	124	149	"	"	PUNCT
cblr-2899	124	150	)	)	PUNCT
cblr-2899	124	151	or	or	CCONJ
cblr-2899	124	152	"	"	PUNCT
cblr-2899	124	153	synthetic	synthetic	ADJ
cblr-2899	124	154	cdos	cdo	NOUN
cblr-2899	124	155	"	"	PUNCT
cblr-2899	124	156	that	that	PRON
cblr-2899	124	157	were	be	AUX
cblr-2899	124	158	sold	sell	VERB
cblr-2899	124	159	in	in	ADP
cblr-2899	124	160	various	various	ADJ
cblr-2899	124	161	tranches.25	tranches.25	NOUN
cblr-2899	124	162	synthetic	synthetic	NOUN
cblr-2899	124	163	cdos	cdo	NOUN
cblr-2899	124	164	are	be	AUX
cblr-2899	124	165	similar	similar	ADJ
cblr-2899	124	166	to	to	ADP
cblr-2899	124	167	cdos	cdo	NOUN
cblr-2899	124	168	except	except	SCONJ
cblr-2899	124	169	that	that	SCONJ
cblr-2899	124	170	purchasers	purchaser	NOUN
cblr-2899	124	171	did	do	AUX
cblr-2899	124	172	not	not	PART
cblr-2899	124	173	own	own	VERB
cblr-2899	124	174	the	the	DET
cblr-2899	124	175	underlying	underlie	VERB
cblr-2899	124	176	securities	security	NOUN
cblr-2899	124	177	.	.	PUNCT
cblr-2899	125	1	rather	rather	ADV
cblr-2899	125	2	,	,	PUNCT
cblr-2899	125	3	interests	interest	NOUN
cblr-2899	125	4	in	in	ADP
cblr-2899	125	5	cdos	cdo	NOUN
cblr-2899	125	6	simply	simply	ADV
cblr-2899	125	7	referenced	reference	VERB
cblr-2899	125	8	the	the	DET
cblr-2899	125	9	packaged	package	VERB
cblr-2899	125	10	rmbs	rmb	NOUN
cblr-2899	125	11	securities	security	NOUN
cblr-2899	125	12	and	and	CCONJ
cblr-2899	125	13	were	be	AUX
cblr-2899	125	14	linked	link	VERB
cblr-2899	125	15	to	to	ADP
cblr-2899	125	16	these	these	DET
cblr-2899	125	17	securities	security	NOUN
cblr-2899	125	18	using	use	VERB
cblr-2899	125	19	derivatives	derivative	NOUN
cblr-2899	125	20	called	call	VERB
cblr-2899	125	21	credit	credit	NOUN
cblr-2899	125	22	default	default	NOUN
cblr-2899	125	23	swaps	swap	NOUN
cblr-2899	125	24	.	.	PUNCT
cblr-2899	126	1	the	the	DET
cblr-2899	126	2	existence	existence	NOUN
cblr-2899	126	3	of	of	ADP
cblr-2899	126	4	synthetic	synthetic	ADJ
cblr-2899	126	5	cdos	cdo	NOUN
cblr-2899	126	6	allowed	allow	VERB
cblr-2899	126	7	demand	demand	NOUN
cblr-2899	126	8	to	to	PART
cblr-2899	126	9	expand	expand	VERB
cblr-2899	126	10	indefinitely	indefinitely	ADV
cblr-2899	126	11	,	,	PUNCT
cblr-2899	126	12	even	even	ADV
cblr-2899	126	13	as	as	SCONJ
cblr-2899	126	14	the	the	DET
cblr-2899	126	15	actual	actual	ADJ
cblr-2899	126	16	supply	supply	NOUN
cblr-2899	126	17	of	of	ADP
cblr-2899	126	18	subprime	subprime	ADJ
cblr-2899	126	19	mortgages	mortgage	NOUN
cblr-2899	126	20	remained	remain	VERB
cblr-2899	126	21	limited	limited	ADJ
cblr-2899	126	22	.	.	PUNCT
cblr-2899	127	1	the	the	DET
cblr-2899	127	2	problem	problem	NOUN
cblr-2899	127	3	was	be	AUX
cblr-2899	127	4	that	that	SCONJ
cblr-2899	127	5	the	the	DET
cblr-2899	127	6	ratings	rating	NOUN
cblr-2899	127	7	given	give	VERB
cblr-2899	127	8	to	to	ADP
cblr-2899	127	9	these	these	DET
cblr-2899	127	10	new	new	ADJ
cblr-2899	127	11	innovative	innovative	ADJ
cblr-2899	127	12	products	product	NOUN
cblr-2899	127	13	were	be	AUX
cblr-2899	127	14	linked	link	VERB
cblr-2899	127	15	to	to	ADP
cblr-2899	127	16	the	the	DET
cblr-2899	127	17	questionable	questionable	ADJ
cblr-2899	127	18	accuracy	accuracy	NOUN
cblr-2899	127	19	of	of	ADP
cblr-2899	127	20	the	the	DET
cblr-2899	127	21	original	original	ADJ
cblr-2899	127	22	ratings	rating	NOUN
cblr-2899	127	23	assigned	assign	VERB
cblr-2899	127	24	to	to	ADP
cblr-2899	127	25	the	the	DET
cblr-2899	127	26	rmbs	rmbs	PROPN
cblr-2899	127	27	tranches.26	tranches.26	PROPN
cblr-2899	127	28	this	this	DET
cblr-2899	127	29	layering	layering	NOUN
cblr-2899	127	30	multiplied	multiply	VERB
cblr-2899	127	31	the	the	DET
cblr-2899	127	32	exposure	exposure	NOUN
cblr-2899	127	33	of	of	ADP
cblr-2899	127	34	investors	investor	NOUN
cblr-2899	127	35	to	to	ADP
cblr-2899	127	36	the	the	DET
cblr-2899	127	37	risk	risk	NOUN
cblr-2899	127	38	of	of	ADP
cblr-2899	127	39	inaccurate	inaccurate	ADJ
cblr-2899	127	40	initial	initial	ADJ
cblr-2899	127	41	ratings	rating	NOUN
cblr-2899	127	42	,	,	PUNCT
cblr-2899	127	43	thereby	thereby	ADV
cblr-2899	127	44	compounding	compound	VERB
cblr-2899	127	45	the	the	DET
cblr-2899	127	46	risk	risk	NOUN
cblr-2899	127	47	of	of	ADP
cblr-2899	127	48	these	these	DET
cblr-2899	127	49	inaccurate	inaccurate	ADJ
cblr-2899	127	50	ratings	rating	NOUN
cblr-2899	127	51	even	even	ADV
cblr-2899	127	52	further.27	further.27	ADJ
cblr-2899	127	53	due	due	ADP
cblr-2899	127	54	to	to	ADP
cblr-2899	127	55	the	the	DET
cblr-2899	127	56	novelty	novelty	NOUN
cblr-2899	127	57	of	of	ADP
cblr-2899	127	58	these	these	DET
cblr-2899	127	59	structured	structured	ADJ
cblr-2899	127	60	products	product	NOUN
cblr-2899	127	61	,	,	PUNCT
cblr-2899	127	62	there	there	PRON
cblr-2899	127	63	was	be	VERB
cblr-2899	127	64	very	very	ADV
cblr-2899	127	65	little	little	ADJ
cblr-2899	127	66	information	information	NOUN
cblr-2899	127	67	concerning	concern	VERB
cblr-2899	127	68	past	past	ADJ
cblr-2899	127	69	performance	performance	NOUN
cblr-2899	127	70	on	on	ADP
cblr-2899	127	71	which	which	PRON
cblr-2899	127	72	22	22	NUM
cblr-2899	127	73	see	see	VERB
cblr-2899	127	74	lewis	lewis	PROPN
cblr-2899	127	75	,	,	PUNCT
cblr-2899	127	76	supra	supra	PROPN
cblr-2899	127	77	note	note	PROPN
cblr-2899	127	78	17	17	NUM
cblr-2899	127	79	,	,	PUNCT
cblr-2899	127	80	at	at	ADP
cblr-2899	127	81	99	99	NUM
cblr-2899	127	82	-	-	SYM
cblr-2899	127	83	101	101	NUM
cblr-2899	127	84	.	.	PUNCT
cblr-2899	128	1	23	23	NUM
cblr-2899	129	1	i	i	PRON
cblr-2899	129	2	d.	d.	PROPN
cblr-2899	129	3	24	24	NUM
cblr-2899	130	1	i	i	PROPN
cblr-2899	130	2	d.	d.	PROPN
cblr-2899	130	3	25	25	NUM
cblr-2899	130	4	matthew	matthew	PROPN
cblr-2899	130	5	richardson	richardson	PROPN
cblr-2899	130	6	&	&	CCONJ
cblr-2899	130	7	lawrence	lawrence	PROPN
cblr-2899	130	8	j.	j.	PROPN
cblr-2899	130	9	white	white	PROPN
cblr-2899	130	10	,	,	PUNCT
cblr-2899	130	11	the	the	DET
cblr-2899	130	12	rating	rating	NOUN
cblr-2899	130	13	agencies	agency	NOUN
cblr-2899	130	14	:	:	PUNCT
cblr-2899	130	15	is	be	AUX
cblr-2899	130	16	regulation	regulation	NOUN
cblr-2899	130	17	the	the	DET
cblr-2899	130	18	answer	answer	NOUN
cblr-2899	130	19	?	?	PUNCT
cblr-2899	130	20	,	,	PUNCT
cblr-2899	130	21	in	in	ADP
cblr-2899	130	22	restoring	restore	VERB
cblr-2899	130	23	financial	financial	ADJ
cblr-2899	130	24	stability	stability	NOUN
cblr-2899	130	25	:	:	PUNCT
cblr-2899	130	26	how	how	SCONJ
cblr-2899	130	27	to	to	PART
cblr-2899	130	28	repair	repair	VERB
cblr-2899	130	29	a	a	DET
cblr-2899	130	30	failed	fail	VERB
cblr-2899	130	31	system	system	NOUN
cblr-2899	130	32	101	101	NUM
cblr-2899	130	33	,	,	PUNCT
cblr-2899	130	34	106	106	NUM
cblr-2899	130	35	(	(	PUNCT
cblr-2899	130	36	viral	viral	ADJ
cblr-2899	130	37	v.	v.	ADP
cblr-2899	130	38	acharya	acharya	PROPN
cblr-2899	130	39	&	&	CCONJ
cblr-2899	130	40	matthew	matthew	PROPN
cblr-2899	130	41	richardson	richardson	PROPN
cblr-2899	130	42	eds	eds	PROPN
cblr-2899	130	43	.	.	PROPN
cblr-2899	130	44	,	,	PUNCT
cblr-2899	130	45	2009	2009	NUM
cblr-2899	130	46	)	)	PUNCT
cblr-2899	130	47	.	.	PUNCT
cblr-2899	131	1	26	26	NUM
cblr-2899	132	1	i	i	PRON
cblr-2899	132	2	d.	d.	PROPN
cblr-2899	132	3	27	27	NUM
cblr-2899	133	1	i	i	PRON
cblr-2899	133	2	d.	d.	PROPN
cblr-2899	133	3	no	no	INTJ
cblr-2899	133	4	.	.	PUNCT
cblr-2899	134	1	3:994	3:994	NUM
cblr-2899	134	2	]	]	PUNCT
cblr-2899	134	3	1003	1003	NUM
cblr-2899	134	4	columbia	columbia	PROPN
cblr-2899	134	5	business	business	NOUN
cblr-2899	134	6	law	law	PROPN
cblr-2899	134	7	review	review	VERB
cblr-2899	134	8	the	the	DET
cblr-2899	134	9	cras	cras	X
cblr-2899	134	10	could	could	AUX
cblr-2899	134	11	rely	rely	VERB
cblr-2899	134	12	for	for	ADP
cblr-2899	134	13	risk	risk	NOUN
cblr-2899	134	14	evaluation	evaluation	NOUN
cblr-2899	134	15	models	model	NOUN
cblr-2899	134	16	.	.	PUNCT
cblr-2899	135	1	therefore	therefore	ADV
cblr-2899	135	2	,	,	PUNCT
cblr-2899	135	3	they	they	PRON
cblr-2899	135	4	were	be	AUX
cblr-2899	135	5	forced	force	VERB
cblr-2899	135	6	to	to	PART
cblr-2899	135	7	make	make	VERB
cblr-2899	135	8	certain	certain	ADJ
cblr-2899	135	9	assumptions	assumption	NOUN
cblr-2899	135	10	-	-	PUNCT
cblr-2899	135	11	many	many	ADJ
cblr-2899	135	12	of	of	ADP
cblr-2899	135	13	which	which	PRON
cblr-2899	135	14	were	be	AUX
cblr-2899	135	15	flawed	flawed	ADJ
cblr-2899	135	16	.	.	PUNCT
cblr-2899	136	1	"	"	PUNCT
cblr-2899	136	2	for	for	ADP
cblr-2899	136	3	mortgage	mortgage	NOUN
cblr-2899	136	4	-	-	PUNCT
cblr-2899	136	5	related	relate	VERB
cblr-2899	136	6	securities	security	NOUN
cblr-2899	136	7	,	,	PUNCT
cblr-2899	136	8	estimated	estimate	VERB
cblr-2899	136	9	losses	loss	NOUN
cblr-2899	136	10	would	would	AUX
cblr-2899	136	11	depend	depend	VERB
cblr-2899	136	12	[	[	X
cblr-2899	136	13	both	both	X
cblr-2899	136	14	]	]	PUNCT
cblr-2899	136	15	on	on	ADP
cblr-2899	136	16	estimates	estimate	NOUN
cblr-2899	136	17	of	of	ADP
cblr-2899	136	18	foreclosure	foreclosure	NOUN
cblr-2899	136	19	rates	rate	NOUN
cblr-2899	136	20	and	and	CCONJ
cblr-2899	136	21	loan	loan	NOUN
cblr-2899	136	22	-	-	PUNCT
cblr-2899	136	23	loss	loss	NOUN
cblr-2899	136	24	severities	severity	NOUN
cblr-2899	136	25	,	,	PUNCT
cblr-2899	136	26	which	which	PRON
cblr-2899	136	27	are	be	AUX
cblr-2899	136	28	themselves	themselves	PRON
cblr-2899	136	29	driven	drive	VERB
cblr-2899	136	30	by	by	ADP
cblr-2899	136	31	assumptions	assumption	NOUN
cblr-2899	136	32	about	about	ADP
cblr-2899	136	33	fundamental	fundamental	ADJ
cblr-2899	136	34	factors	factor	NOUN
cblr-2899	136	35	such	such	ADJ
cblr-2899	136	36	as	as	ADP
cblr-2899	136	37	house	house	NOUN
cblr-2899	136	38	prices	price	NOUN
cblr-2899	136	39	and	and	CCONJ
cblr-2899	136	40	interest	interest	NOUN
cblr-2899	136	41	rates	rate	NOUN
cblr-2899	136	42	,	,	PUNCT
cblr-2899	136	43	"	"	PUNCT
cblr-2899	136	44	and	and	CCONJ
cblr-2899	136	45	on	on	ADP
cblr-2899	136	46	assumptions	assumption	NOUN
cblr-2899	136	47	about	about	ADP
cblr-2899	136	48	the	the	DET
cblr-2899	136	49	correlation	correlation	NOUN
cblr-2899	136	50	of	of	ADP
cblr-2899	136	51	defaults	default	NOUN
cblr-2899	136	52	among	among	ADP
cblr-2899	136	53	the	the	DET
cblr-2899	136	54	individual	individual	NOUN
cblr-2899	136	55	borrowers.2	borrowers.2	ADP
cblr-2899	136	56	8	8	NUM
cblr-2899	136	57	underestimating	underestimate	VERB
cblr-2899	136	58	the	the	DET
cblr-2899	136	59	default	default	NOUN
cblr-2899	136	60	correlation	correlation	NOUN
cblr-2899	136	61	and	and	CCONJ
cblr-2899	136	62	relying	rely	VERB
cblr-2899	136	63	heavily	heavily	ADV
cblr-2899	136	64	on	on	ADP
cblr-2899	136	65	the	the	DET
cblr-2899	136	66	continued	continue	VERB
cblr-2899	136	67	increase	increase	NOUN
cblr-2899	136	68	of	of	ADP
cblr-2899	136	69	housing	housing	NOUN
cblr-2899	136	70	prices	price	NOUN
cblr-2899	136	71	proved	prove	VERB
cblr-2899	136	72	problematic	problematic	ADJ
cblr-2899	136	73	.	.	PUNCT
cblr-2899	137	1	once	once	SCONJ
cblr-2899	137	2	housing	housing	NOUN
cblr-2899	137	3	prices	price	NOUN
cblr-2899	137	4	stopped	stop	VERB
cblr-2899	137	5	increasing	increase	VERB
cblr-2899	137	6	and	and	CCONJ
cblr-2899	137	7	eventually	eventually	ADV
cblr-2899	137	8	started	start	VERB
cblr-2899	137	9	to	to	PART
cblr-2899	137	10	decline	decline	VERB
cblr-2899	137	11	,	,	PUNCT
cblr-2899	137	12	mass	mass	NOUN
cblr-2899	137	13	defaults	default	NOUN
cblr-2899	137	14	ensued.29	ensued.29	NOUN
cblr-2899	137	15	compared	compare	VERB
cblr-2899	137	16	to	to	ADP
cblr-2899	137	17	corporate	corporate	ADJ
cblr-2899	137	18	or	or	CCONJ
cblr-2899	137	19	sovereign	sovereign	ADJ
cblr-2899	137	20	bonds	bond	NOUN
cblr-2899	137	21	,	,	PUNCT
cblr-2899	137	22	the	the	DET
cblr-2899	137	23	structured	structured	ADJ
cblr-2899	137	24	products	product	NOUN
cblr-2899	137	25	were	be	AUX
cblr-2899	137	26	subject	subject	ADJ
cblr-2899	137	27	to	to	ADP
cblr-2899	137	28	more	more	ADV
cblr-2899	137	29	severe	severe	ADJ
cblr-2899	137	30	multiple	multiple	ADJ
cblr-2899	137	31	-	-	PUNCT
cblr-2899	137	32	notch	notch	NOUN
cblr-2899	137	33	downgrades	downgrade	NOUN
cblr-2899	137	34	because	because	SCONJ
cblr-2899	137	35	their	their	PRON
cblr-2899	137	36	structure	structure	NOUN
cblr-2899	137	37	made	make	VERB
cblr-2899	137	38	their	their	PRON
cblr-2899	137	39	ratings	rating	NOUN
cblr-2899	137	40	more	more	ADV
cblr-2899	137	41	dependent	dependent	ADJ
cblr-2899	137	42	on	on	ADP
cblr-2899	137	43	underlying	underlie	VERB
cblr-2899	137	44	assumptions	assumption	NOUN
cblr-2899	137	45	about	about	ADP
cblr-2899	137	46	the	the	DET
cblr-2899	137	47	growth	growth	NOUN
cblr-2899	137	48	of	of	ADP
cblr-2899	137	49	the	the	DET
cblr-2899	137	50	housing	housing	NOUN
cblr-2899	137	51	market	market	NOUN
cblr-2899	137	52	and	and	CCONJ
cblr-2899	137	53	the	the	DET
cblr-2899	137	54	levels	level	NOUN
cblr-2899	137	55	of	of	ADP
cblr-2899	137	56	default	default	NOUN
cblr-2899	137	57	by	by	ADP
cblr-2899	137	58	homeowners	homeowner	NOUN
cblr-2899	137	59	.	.	PUNCT
cblr-2899	138	1	"o	"o	PROPN
cblr-2899	138	2	small	small	ADJ
cblr-2899	138	3	deviations	deviation	NOUN
cblr-2899	138	4	from	from	ADP
cblr-2899	138	5	these	these	DET
cblr-2899	138	6	assumptions	assumption	NOUN
cblr-2899	138	7	had	have	VERB
cblr-2899	138	8	the	the	DET
cblr-2899	138	9	potential	potential	NOUN
cblr-2899	138	10	to	to	PART
cblr-2899	138	11	increase	increase	VERB
cblr-2899	138	12	risk	risk	NOUN
cblr-2899	138	13	exponentially.3	exponentially.3	NOUN
cblr-2899	138	14	'	'	PUNCT
cblr-2899	138	15	with	with	ADP
cblr-2899	138	16	such	such	DET
cblr-2899	138	17	a	a	DET
cblr-2899	138	18	discrete	discrete	ADJ
cblr-2899	138	19	risk	risk	NOUN
cblr-2899	138	20	distribution	distribution	NOUN
cblr-2899	138	21	,	,	PUNCT
cblr-2899	138	22	either	either	CCONJ
cblr-2899	138	23	many	many	ADJ
cblr-2899	138	24	borrowers	borrower	NOUN
cblr-2899	138	25	defaulted	default	VERB
cblr-2899	138	26	28	28	NUM
cblr-2899	138	27	amadou	amadou	NOUN
cblr-2899	138	28	n.r	n.r	PROPN
cblr-2899	138	29	.	.	PROPN
cblr-2899	138	30	sy	sy	PROPN
cblr-2899	138	31	,	,	PUNCT
cblr-2899	138	32	the	the	DET
cblr-2899	138	33	systemic	systemic	ADJ
cblr-2899	138	34	regulation	regulation	NOUN
cblr-2899	138	35	of	of	ADP
cblr-2899	138	36	credit	credit	NOUN
cblr-2899	138	37	rating	rating	NOUN
cblr-2899	138	38	agencies	agency	NOUN
cblr-2899	138	39	and	and	CCONJ
cblr-2899	138	40	rated	rate	VERB
cblr-2899	138	41	markets	market	NOUN
cblr-2899	138	42	19	19	NUM
cblr-2899	138	43	(	(	PUNCT
cblr-2899	138	44	imf	imf	PROPN
cblr-2899	138	45	,	,	PUNCT
cblr-2899	138	46	working	working	NOUN
cblr-2899	138	47	paper	paper	NOUN
cblr-2899	138	48	no	no	INTJ
cblr-2899	138	49	.	.	PROPN
cblr-2899	138	50	09/129	09/129	NUM
cblr-2899	138	51	,	,	PUNCT
cblr-2899	138	52	2009	2009	NUM
cblr-2899	138	53	)	)	PUNCT
cblr-2899	138	54	,	,	PUNCT
cblr-2899	138	55	available	available	ADJ
cblr-2899	138	56	at	at	ADP
cblr-2899	138	57	www.imf.org/	www.imf.org/	ADJ
cblr-2899	138	58	external	external	ADJ
cblr-2899	138	59	/	/	SYM
cblr-2899	138	60	pubs	pub	NOUN
cblr-2899	138	61	/	/	SYM
cblr-2899	138	62	ft	ft	PROPN
cblr-2899	138	63	/	/	SYM
cblr-2899	138	64	wp/2009	wp/2009	NOUN
cblr-2899	138	65	/	/	SYM
cblr-2899	138	66	wp09129.pdf	wp09129.pdf	NOUN
cblr-2899	138	67	.	.	PUNCT
cblr-2899	139	1	29	29	NUM
cblr-2899	139	2	wall	wall	PROPN
cblr-2899	139	3	street	street	PROPN
cblr-2899	139	4	and	and	CCONJ
cblr-2899	139	5	the	the	DET
cblr-2899	139	6	financial	financial	ADJ
cblr-2899	139	7	crisis	crisis	NOUN
cblr-2899	139	8	,	,	PUNCT
cblr-2899	139	9	supra	supra	PROPN
cblr-2899	139	10	note	note	NOUN
cblr-2899	139	11	2	2	NUM
cblr-2899	139	12	,	,	PUNCT
cblr-2899	139	13	at	at	ADP
cblr-2899	139	14	263	263	NUM
cblr-2899	139	15	.	.	PUNCT
cblr-2899	139	16	30	30	NUM
cblr-2899	139	17	sy	sy	NOUN
cblr-2899	139	18	,	,	PUNCT
cblr-2899	139	19	supra	supra	PROPN
cblr-2899	139	20	note	note	PROPN
cblr-2899	139	21	28	28	NUM
cblr-2899	139	22	,	,	PUNCT
cblr-2899	139	23	at	at	ADP
cblr-2899	139	24	18	18	NUM
cblr-2899	139	25	-	-	SYM
cblr-2899	139	26	20	20	NUM
cblr-2899	139	27	.	.	PUNCT
cblr-2899	139	28	31	31	NUM
cblr-2899	139	29	a	a	DET
cblr-2899	139	30	study	study	NOUN
cblr-2899	139	31	of	of	ADP
cblr-2899	139	32	a	a	DET
cblr-2899	139	33	rating	rating	NOUN
cblr-2899	139	34	process	process	NOUN
cblr-2899	139	35	explains	explain	VERB
cblr-2899	139	36	that	that	SCONJ
cblr-2899	139	37	:	:	PUNCT
cblr-2899	139	38	[	[	X
cblr-2899	139	39	a]n	a]n	NOUN
cblr-2899	139	40	aaa	aaa	NOUN
cblr-2899	139	41	rating	rating	NOUN
cblr-2899	139	42	is	be	AUX
cblr-2899	139	43	highly	highly	ADV
cblr-2899	139	44	sensitive	sensitive	ADJ
cblr-2899	139	45	to	to	ADP
cblr-2899	139	46	the	the	DET
cblr-2899	139	47	chosen	choose	VERB
cblr-2899	139	48	assumptions	assumption	NOUN
cblr-2899	139	49	on	on	ADP
cblr-2899	139	50	correlation	correlation	NOUN
cblr-2899	139	51	and	and	CCONJ
cblr-2899	139	52	loss	loss	NOUN
cblr-2899	139	53	severity	severity	NOUN
cblr-2899	139	54	,	,	PUNCT
cblr-2899	139	55	with	with	ADP
cblr-2899	139	56	the	the	DET
cblr-2899	139	57	associated	associated	ADJ
cblr-2899	139	58	risk	risk	NOUN
cblr-2899	139	59	of	of	ADP
cblr-2899	139	60	abrupt	abrupt	ADJ
cblr-2899	139	61	downgrades	downgrade	NOUN
cblr-2899	139	62	.	.	PUNCT
cblr-2899	139	63	.	.	PUNCT
cblr-2899	139	64	.	.	PUNCT
cblr-2899	139	65	.	.	PUNCT
cblr-2899	140	1	[	[	X
cblr-2899	140	2	i]f	i]f	ADP
cblr-2899	140	3	the	the	DET
cblr-2899	140	4	asset	asset	NOUN
cblr-2899	141	1	[	[	X
cblr-2899	141	2	default	default	NOUN
cblr-2899	141	3	]	]	PUNCT
cblr-2899	141	4	correlation	correlation	NOUN
cblr-2899	141	5	were	be	AUX
cblr-2899	141	6	15	15	NUM
cblr-2899	141	7	percent	percent	NOUN
cblr-2899	141	8	,	,	PUNCT
cblr-2899	141	9	aaa	aaa	NOUN
cblr-2899	141	10	subordination	subordination	NOUN
cblr-2899	141	11	would	would	AUX
cblr-2899	141	12	have	have	VERB
cblr-2899	141	13	to	to	PART
cblr-2899	141	14	increase	increase	VERB
cblr-2899	141	15	from	from	ADP
cblr-2899	141	16	16	16	NUM
cblr-2899	141	17	to	to	PART
cblr-2899	141	18	25.6	25.6	NUM
cblr-2899	141	19	percent	percent	NOUN
cblr-2899	141	20	(	(	PUNCT
cblr-2899	141	21	64	64	NUM
cblr-2899	141	22	defaults	default	NOUN
cblr-2899	141	23	)	)	PUNCT
cblr-2899	141	24	.	.	PUNCT
cblr-2899	142	1	in	in	ADP
cblr-2899	142	2	fact	fact	NOUN
cblr-2899	142	3	.	.	PUNCT
cblr-2899	142	4	.	.	PUNCT
cblr-2899	142	5	.	.	PUNCT
cblr-2899	143	1	if	if	SCONJ
cblr-2899	143	2	the	the	DET
cblr-2899	143	3	correlation	correlation	NOUN
cblr-2899	143	4	were	be	AUX
cblr-2899	143	5	to	to	PART
cblr-2899	143	6	jump	jump	VERB
cblr-2899	143	7	from	from	ADP
cblr-2899	143	8	5	5	NUM
cblr-2899	143	9	to	to	PART
cblr-2899	143	10	15	15	NUM
cblr-2899	143	11	percent	percent	NOUN
cblr-2899	143	12	,	,	PUNCT
cblr-2899	143	13	the	the	DET
cblr-2899	143	14	originally	originally	ADV
cblr-2899	143	15	rated	rate	VERB
cblr-2899	143	16	aaa	aaa	NOUN
cblr-2899	143	17	tranche	tranche	NOUN
cblr-2899	143	18	should	should	AUX
cblr-2899	143	19	be	be	AUX
cblr-2899	143	20	downgraded	downgrade	VERB
cblr-2899	143	21	to	to	ADP
cblr-2899	143	22	single	single	ADJ
cblr-2899	143	23	-	-	PUNCT
cblr-2899	143	24	a	a	NOUN
cblr-2899	143	25	or	or	CCONJ
cblr-2899	143	26	below	below	ADV
cblr-2899	143	27	(	(	PUNCT
cblr-2899	143	28	the	the	DET
cblr-2899	143	29	probability	probability	NOUN
cblr-2899	143	30	of	of	ADP
cblr-2899	143	31	more	more	ADJ
cblr-2899	143	32	than	than	ADP
cblr-2899	143	33	40	40	NUM
cblr-2899	143	34	defaults	default	NOUN
cblr-2899	143	35	jumps	jump	VERB
cblr-2899	143	36	from	from	ADP
cblr-2899	143	37	0.06	0.06	NUM
cblr-2899	143	38	percent	percent	NOUN
cblr-2899	143	39	to	to	ADP
cblr-2899	143	40	1.88	1.88	NUM
cblr-2899	143	41	percent	percent	NOUN
cblr-2899	143	42	,	,	PUNCT
cblr-2899	143	43	and	and	CCONJ
cblr-2899	143	44	the	the	DET
cblr-2899	143	45	target	target	NOUN
cblr-2899	143	46	default	default	NOUN
cblr-2899	143	47	probabilities	probability	NOUN
cblr-2899	143	48	for	for	ADP
cblr-2899	143	49	a	a	DET
cblr-2899	143	50	and	and	CCONJ
cblr-2899	143	51	bbb	bbb	NOUN
cblr-2899	143	52	ratings	rating	NOUN
cblr-2899	143	53	are	be	AUX
cblr-2899	143	54	0.46	0.46	NUM
cblr-2899	143	55	and	and	CCONJ
cblr-2899	143	56	2.32	2.32	NUM
cblr-2899	143	57	percent	percent	NOUN
cblr-2899	143	58	,	,	PUNCT
cblr-2899	143	59	respectively	respectively	ADV
cblr-2899	143	60	)	)	PUNCT
cblr-2899	143	61	.	.	PUNCT
cblr-2899	144	1	increasing	increase	VERB
cblr-2899	144	2	the	the	DET
cblr-2899	144	3	loss	loss	NOUN
cblr-2899	144	4	severity	severity	NOUN
cblr-2899	144	5	from	from	ADP
cblr-2899	144	6	50	50	NUM
cblr-2899	144	7	to	to	PART
cblr-2899	144	8	70	70	NUM
cblr-2899	144	9	percent	percent	NOUN
cblr-2899	144	10	(	(	PUNCT
cblr-2899	144	11	holding	hold	VERB
cblr-2899	144	12	the	the	DET
cblr-2899	144	13	correlation	correlation	NOUN
cblr-2899	144	14	at	at	ADP
cblr-2899	144	15	5	5	NUM
cblr-2899	144	16	percent	percent	NOUN
cblr-2899	144	17	)	)	PUNCT
cblr-2899	144	18	would	would	AUX
cblr-2899	144	19	also	also	ADV
cblr-2899	144	20	downgrade	downgrade	VERB
cblr-2899	144	21	the	the	DET
cblr-2899	144	22	aaa	aaa	NOUN
cblr-2899	144	23	tranche	tranche	NOUN
cblr-2899	144	24	to	to	ADP
cblr-2899	144	25	single	single	ADJ
cblr-2899	144	26	-	-	PUNCT
cblr-2899	144	27	a	a	NOUN
cblr-2899	144	28	or	or	CCONJ
cblr-2899	144	29	below	below	ADV
cblr-2899	144	30	,	,	PUNCT
cblr-2899	144	31	and	and	CCONJ
cblr-2899	144	32	downgrading	downgrade	VERB
cblr-2899	144	33	the	the	DET
cblr-2899	144	34	underlying	underlie	VERB
cblr-2899	144	35	credits	credit	NOUN
cblr-2899	144	36	from	from	ADP
cblr-2899	144	37	bb	bb	NUM
cblr-2899	144	38	to	to	ADP
cblr-2899	144	39	b	b	NOUN
cblr-2899	144	40	could	could	AUX
cblr-2899	144	41	downgrade	downgrade	VERB
cblr-2899	144	42	the	the	DET
cblr-2899	144	43	aaa	aaa	NOUN
cblr-2899	144	44	tranche	tranche	NOUN
cblr-2899	144	45	ratings	rating	NOUN
cblr-2899	144	46	to	to	ADP
cblr-2899	144	47	bb	bb	VERB
cblr-2899	144	48	or	or	CCONJ
cblr-2899	144	49	below	below	ADV
cblr-2899	144	50	.	.	PUNCT
cblr-2899	145	1	i	i	PRON
cblr-2899	145	2	d.	d.	PROPN
cblr-2899	145	3	at	at	ADP
cblr-2899	145	4	20	20	NUM
cblr-2899	145	5	-	-	SYM
cblr-2899	145	6	21	21	NUM
cblr-2899	145	7	.	.	PUNCT
cblr-2899	145	8	1004	1004	NUM
cblr-2899	146	1	[	[	X
cblr-2899	146	2	vol	vol	NOUN
cblr-2899	146	3	.	.	NOUN
cblr-2899	146	4	2012	2012	NUM
cblr-2899	146	5	or	or	CCONJ
cblr-2899	146	6	almost	almost	ADV
cblr-2899	146	7	none	none	NOUN
cblr-2899	146	8	defaulted	default	VERB
cblr-2899	146	9	,	,	PUNCT
cblr-2899	146	10	implying	imply	VERB
cblr-2899	146	11	that	that	SCONJ
cblr-2899	146	12	there	there	PRON
cblr-2899	146	13	was	be	VERB
cblr-2899	146	14	not	not	PART
cblr-2899	146	15	a	a	DET
cblr-2899	146	16	justifiably	justifiably	ADV
cblr-2899	146	17	large	large	ADJ
cblr-2899	146	18	difference	difference	NOUN
cblr-2899	146	19	in	in	ADP
cblr-2899	146	20	risk	risk	NOUN
cblr-2899	146	21	associated	associate	VERB
cblr-2899	146	22	with	with	ADP
cblr-2899	146	23	an	an	DET
cblr-2899	146	24	aaa	aaa	NOUN
cblr-2899	146	25	tranche	tranche	NOUN
cblr-2899	146	26	and	and	CCONJ
cblr-2899	146	27	a	a	DET
cblr-2899	146	28	non	non	ADJ
cblr-2899	146	29	-	-	ADJ
cblr-2899	146	30	investment	investment	ADJ
cblr-2899	146	31	grade	grade	NOUN
cblr-2899	146	32	tranche	tranche	NOUN
cblr-2899	146	33	.	.	PUNCT
cblr-2899	147	1	thus	thus	ADV
cblr-2899	147	2	,	,	PUNCT
cblr-2899	147	3	credit	credit	NOUN
cblr-2899	147	4	rating	rating	NOUN
cblr-2899	147	5	models	model	NOUN
cblr-2899	147	6	mistakenly	mistakenly	ADV
cblr-2899	147	7	applied	apply	VERB
cblr-2899	147	8	linear	linear	NOUN
cblr-2899	147	9	functions	function	NOUN
cblr-2899	147	10	to	to	PART
cblr-2899	147	11	estimate	estimate	VERB
cblr-2899	147	12	the	the	DET
cblr-2899	147	13	non	non	ADJ
cblr-2899	147	14	-	-	ADJ
cblr-2899	147	15	linear	linear	ADJ
cblr-2899	147	16	"	"	PUNCT
cblr-2899	147	17	option	option	NOUN
cblr-2899	147	18	-	-	PUNCT
cblr-2899	147	19	like	like	ADJ
cblr-2899	147	20	"	"	PUNCT
cblr-2899	147	21	behavior	behavior	NOUN
cblr-2899	147	22	of	of	ADP
cblr-2899	147	23	the	the	DET
cblr-2899	147	24	structured	structured	ADJ
cblr-2899	147	25	products	product	NOUN
cblr-2899	147	26	.	.	PUNCT
cblr-2899	148	1	32	32	NUM
cblr-2899	148	2	additionally	additionally	ADV
cblr-2899	148	3	,	,	PUNCT
cblr-2899	148	4	before	before	SCONJ
cblr-2899	148	5	structured	structured	ADJ
cblr-2899	148	6	finance	finance	NOUN
cblr-2899	148	7	overtook	overtake	VERB
cblr-2899	148	8	corporate	corporate	ADJ
cblr-2899	148	9	debt	debt	NOUN
cblr-2899	148	10	issuances	issuance	NOUN
cblr-2899	148	11	,	,	PUNCT
cblr-2899	148	12	no	no	DET
cblr-2899	148	13	single	single	ADJ
cblr-2899	148	14	client	client	NOUN
cblr-2899	148	15	of	of	ADP
cblr-2899	148	16	the	the	DET
cblr-2899	148	17	cras	cras	PROPN
cblr-2899	148	18	accounted	account	VERB
cblr-2899	148	19	for	for	ADP
cblr-2899	148	20	a	a	DET
cblr-2899	148	21	large	large	ADJ
cblr-2899	148	22	amount	amount	NOUN
cblr-2899	148	23	of	of	ADP
cblr-2899	148	24	the	the	DET
cblr-2899	148	25	cras	cras	X
cblr-2899	148	26	'	'	PART
cblr-2899	148	27	business	business	NOUN
cblr-2899	148	28	.	.	PUNCT
cblr-2899	149	1	3	3	NUM
cblr-2899	149	2	with	with	ADP
cblr-2899	149	3	the	the	DET
cblr-2899	149	4	growth	growth	NOUN
cblr-2899	149	5	of	of	ADP
cblr-2899	149	6	structured	structured	ADJ
cblr-2899	149	7	finance	finance	NOUN
cblr-2899	149	8	,	,	PUNCT
cblr-2899	149	9	the	the	DET
cblr-2899	149	10	rating	rating	NOUN
cblr-2899	149	11	agencies	agency	NOUN
cblr-2899	149	12	dealt	deal	VERB
cblr-2899	149	13	with	with	ADP
cblr-2899	149	14	fewer	few	ADJ
cblr-2899	149	15	clients	client	NOUN
cblr-2899	149	16	who	who	PRON
cblr-2899	149	17	brought	bring	VERB
cblr-2899	149	18	in	in	ADP
cblr-2899	149	19	a	a	DET
cblr-2899	149	20	greater	great	ADJ
cblr-2899	149	21	amount	amount	NOUN
cblr-2899	149	22	of	of	ADP
cblr-2899	149	23	their	their	PRON
cblr-2899	149	24	business	business	NOUN
cblr-2899	149	25	on	on	ADP
cblr-2899	149	26	a	a	DET
cblr-2899	149	27	continuing	continue	VERB
cblr-2899	149	28	basis	basis	NOUN
cblr-2899	149	29	,	,	PUNCT
cblr-2899	149	30	and	and	CCONJ
cblr-2899	149	31	,	,	PUNCT
cblr-2899	149	32	therefore	therefore	ADV
cblr-2899	149	33	,	,	PUNCT
cblr-2899	149	34	who	who	PRON
cblr-2899	149	35	had	have	VERB
cblr-2899	149	36	increasingly	increasingly	ADV
cblr-2899	149	37	credible	credible	ADJ
cblr-2899	149	38	bargaining	bargaining	NOUN
cblr-2899	149	39	power	power	NOUN
cblr-2899	149	40	.	.	PUNCT
cblr-2899	150	1	34	34	NUM
cblr-2899	151	1	the	the	DET
cblr-2899	151	2	issuers	issuer	NOUN
cblr-2899	151	3	thus	thus	ADV
cblr-2899	151	4	had	have	VERB
cblr-2899	151	5	an	an	DET
cblr-2899	151	6	incentive	incentive	NOUN
cblr-2899	151	7	to	to	PART
cblr-2899	151	8	engage	engage	VERB
cblr-2899	151	9	in	in	ADP
cblr-2899	151	10	"	"	PUNCT
cblr-2899	151	11	rating	rating	NOUN
cblr-2899	151	12	shopping	shopping	NOUN
cblr-2899	151	13	,	,	PUNCT
cblr-2899	151	14	"	"	PUNCT
cblr-2899	151	15	which	which	PRON
cblr-2899	151	16	created	create	VERB
cblr-2899	151	17	a	a	DET
cblr-2899	151	18	conflict	conflict	NOUN
cblr-2899	151	19	of	of	ADP
cblr-2899	151	20	interest	interest	NOUN
cblr-2899	151	21	for	for	ADP
cblr-2899	151	22	the	the	DET
cblr-2899	151	23	cras.35	cras.35	PROPN
cblr-2899	151	24	c.	c.	PROPN
cblr-2899	151	25	regulatory	regulatory	PROPN
cblr-2899	151	26	licensing	licensing	NOUN
cblr-2899	151	27	another	another	DET
cblr-2899	151	28	problem	problem	NOUN
cblr-2899	151	29	stems	stem	VERB
cblr-2899	151	30	from	from	ADP
cblr-2899	151	31	the	the	DET
cblr-2899	151	32	fact	fact	NOUN
cblr-2899	151	33	that	that	SCONJ
cblr-2899	151	34	regulators	regulator	NOUN
cblr-2899	151	35	in	in	ADP
cblr-2899	151	36	the	the	DET
cblr-2899	151	37	united	united	PROPN
cblr-2899	151	38	states	states	PROPN
cblr-2899	151	39	have	have	AUX
cblr-2899	151	40	historically	historically	ADV
cblr-2899	151	41	incorporated	incorporate	VERB
cblr-2899	151	42	credit	credit	NOUN
cblr-2899	151	43	ratings	rating	NOUN
cblr-2899	151	44	into	into	ADP
cblr-2899	151	45	specific	specific	ADJ
cblr-2899	151	46	regulations	regulation	NOUN
cblr-2899	151	47	.	.	PUNCT
cblr-2899	152	1	36	36	NUM
cblr-2899	152	2	these	these	DET
cblr-2899	152	3	regulations	regulation	NOUN
cblr-2899	152	4	require	require	VERB
cblr-2899	152	5	that	that	SCONJ
cblr-2899	152	6	certain	certain	ADJ
cblr-2899	152	7	institutions	institution	NOUN
cblr-2899	152	8	or	or	CCONJ
cblr-2899	152	9	investors	investor	NOUN
cblr-2899	152	10	purchase	purchase	VERB
cblr-2899	152	11	only	only	ADV
cblr-2899	152	12	securities	security	NOUN
cblr-2899	152	13	above	above	ADP
cblr-2899	152	14	a	a	DET
cblr-2899	152	15	threshold	threshold	NOUN
cblr-2899	152	16	credit	credit	NOUN
cblr-2899	152	17	rating	rating	NOUN
cblr-2899	152	18	issued	issue	VERB
cblr-2899	152	19	by	by	ADP
cblr-2899	152	20	a	a	DET
cblr-2899	152	21	cra	cra	PROPN
cblr-2899	152	22	that	that	PRON
cblr-2899	152	23	is	be	AUX
cblr-2899	152	24	designated	designate	VERB
cblr-2899	152	25	as	as	ADP
cblr-2899	152	26	a	a	DET
cblr-2899	152	27	nationally	nationally	ADV
cblr-2899	152	28	recognized	recognize	VERB
cblr-2899	152	29	statistical	statistical	ADJ
cblr-2899	152	30	rating	rating	NOUN
cblr-2899	152	31	organization	organization	NOUN
cblr-2899	152	32	(	(	PUNCT
cblr-2899	152	33	"	"	PUNCT
cblr-2899	152	34	nrsro	nrsro	ADJ
cblr-2899	152	35	"	"	PUNCT
cblr-2899	152	36	)	)	PUNCT
cblr-2899	152	37	.	.	PUNCT
cblr-2899	153	1	figure	figure	NOUN
cblr-2899	153	2	3	3	NUM
cblr-2899	153	3	provides	provide	VERB
cblr-2899	153	4	examples	example	NOUN
cblr-2899	153	5	of	of	ADP
cblr-2899	153	6	regulations	regulation	NOUN
cblr-2899	153	7	that	that	PRON
cblr-2899	153	8	incorporate	incorporate	VERB
cblr-2899	153	9	nrsro	nrsro	ADJ
cblr-2899	153	10	ratings	rating	NOUN
cblr-2899	153	11	.	.	PUNCT
cblr-2899	154	1	europe	europe	PROPN
cblr-2899	154	2	has	have	AUX
cblr-2899	154	3	similarly	similarly	ADV
cblr-2899	154	4	albeit	albeit	SCONJ
cblr-2899	154	5	to	to	ADP
cblr-2899	154	6	a	a	DET
cblr-2899	154	7	lesser	less	ADJ
cblr-2899	154	8	extent	extent	NOUN
cblr-2899	154	9	conferred	confer	VERB
cblr-2899	154	10	such	such	ADJ
cblr-2899	154	11	power	power	NOUN
cblr-2899	154	12	on	on	ADP
cblr-2899	154	13	cras	cras	PROPN
cblr-2899	154	14	through	through	ADP
cblr-2899	154	15	regulations	regulation	NOUN
cblr-2899	154	16	such	such	ADJ
cblr-2899	154	17	as	as	ADP
cblr-2899	154	18	basel	basel	PROPN
cblr-2899	154	19	ii	ii	PROPN
cblr-2899	154	20	,	,	PUNCT
cblr-2899	154	21	which	which	PRON
cblr-2899	154	22	assesses	assess	VERB
cblr-2899	154	23	capital	capital	NOUN
cblr-2899	154	24	based	base	VERB
cblr-2899	154	25	on	on	ADP
cblr-2899	154	26	risk	risk	NOUN
cblr-2899	154	27	-	-	PUNCT
cblr-2899	154	28	weighted	weight	VERB
cblr-2899	154	29	assets	asset	NOUN
cblr-2899	154	30	and	and	CCONJ
cblr-2899	154	31	thus	thus	ADV
cblr-2899	154	32	imposes	impose	VERB
cblr-2899	154	33	higher	high	ADJ
cblr-2899	154	34	capital	capital	NOUN
cblr-2899	154	35	requirements	requirement	NOUN
cblr-2899	154	36	on	on	ADP
cblr-2899	154	37	banks	bank	NOUN
cblr-2899	154	38	that	that	PRON
cblr-2899	154	39	hold	hold	VERB
cblr-2899	154	40	lower	lower	ADV
cblr-2899	154	41	rated	rate	VERB
cblr-2899	154	42	32	32	NUM
cblr-2899	154	43	sy	sy	NOUN
cblr-2899	154	44	,	,	PUNCT
cblr-2899	154	45	supra	supra	PROPN
cblr-2899	154	46	note	note	PROPN
cblr-2899	154	47	28	28	NUM
cblr-2899	154	48	,	,	PUNCT
cblr-2899	154	49	at	at	ADP
cblr-2899	154	50	20	20	NUM
cblr-2899	154	51	-	-	SYM
cblr-2899	154	52	21	21	NUM
cblr-2899	154	53	.	.	PUNCT
cblr-2899	155	1	33	33	NUM
cblr-2899	155	2	john	john	PROPN
cblr-2899	155	3	c.	c.	PROPN
cblr-2899	155	4	coffee	coffee	PROPN
cblr-2899	155	5	,	,	PUNCT
cblr-2899	155	6	jr	jr	PROPN
cblr-2899	155	7	.	.	PROPN
cblr-2899	155	8	,	,	PUNCT
cblr-2899	155	9	ratings	rating	NOUN
cblr-2899	155	10	reform	reform	NOUN
cblr-2899	155	11	:	:	PUNCT
cblr-2899	155	12	the	the	DET
cblr-2899	155	13	good	good	NOUN
cblr-2899	155	14	,	,	PUNCT
cblr-2899	155	15	the	the	DET
cblr-2899	155	16	bad	bad	ADJ
cblr-2899	155	17	,	,	PUNCT
cblr-2899	155	18	and	and	CCONJ
cblr-2899	155	19	the	the	DET
cblr-2899	155	20	ugly	ugly	ADJ
cblr-2899	155	21	,	,	PUNCT
cblr-2899	155	22	1	1	NUM
cblr-2899	155	23	harv	harv	NOUN
cblr-2899	155	24	.	.	PUNCT
cblr-2899	156	1	bus	bus	NOUN
cblr-2899	156	2	.	.	PUNCT
cblr-2899	157	1	l.	l.	PROPN
cblr-2899	157	2	rev	rev	PROPN
cblr-2899	157	3	.	.	PROPN
cblr-2899	157	4	232	232	NUM
cblr-2899	157	5	,	,	PUNCT
cblr-2899	157	6	237	237	NUM
cblr-2899	157	7	-	-	SYM
cblr-2899	157	8	38	38	NUM
cblr-2899	157	9	(	(	PUNCT
cblr-2899	157	10	2011	2011	NUM
cblr-2899	157	11	)	)	PUNCT
cblr-2899	157	12	.	.	PUNCT
cblr-2899	158	1	34	34	NUM
cblr-2899	159	1	i	i	PRON
cblr-2899	159	2	d.	d.	PROPN
cblr-2899	159	3	35	35	NUM
cblr-2899	160	1	i	i	PRON
cblr-2899	160	2	d.	d.	PROPN
cblr-2899	160	3	at	at	ADP
cblr-2899	160	4	238	238	NUM
cblr-2899	160	5	.	.	PUNCT
cblr-2899	161	1	36	36	NUM
cblr-2899	161	2	see	see	VERB
cblr-2899	161	3	infra	infra	NOUN
cblr-2899	161	4	figure	figure	NOUN
cblr-2899	161	5	3	3	NUM
cblr-2899	161	6	.	.	PUNCT
cblr-2899	161	7	1005reg	1005reg	NUM
cblr-2899	162	1	ula	ula	PROPN
cblr-2899	162	2	ting	ting	PROPN
cblr-2899	162	3	credit	credit	NOUN
cblr-2899	162	4	rating	rating	NOUN
cblr-2899	162	5	agenciesno	agenciesno	NOUN
cblr-2899	162	6	.	.	PUNCT
cblr-2899	163	1	3:994	3:994	NUM
cblr-2899	163	2	]	]	PUNCT
cblr-2899	163	3	bonds	bond	NOUN
cblr-2899	163	4	(	(	PUNCT
cblr-2899	163	5	0	0	NUM
cblr-2899	163	6	%	%	NOUN
cblr-2899	163	7	for	for	ADP
cblr-2899	163	8	aa	aa	NOUN
cblr-2899	163	9	-	-	PUNCT
cblr-2899	163	10	rated	rate	VERB
cblr-2899	163	11	government	government	NOUN
cblr-2899	163	12	bonds	bond	NOUN
cblr-2899	163	13	and	and	CCONJ
cblr-2899	163	14	between	between	ADP
cblr-2899	163	15	20	20	NUM
cblr-2899	163	16	and	and	CCONJ
cblr-2899	163	17	150	150	NUM
cblr-2899	163	18	%	%	NOUN
cblr-2899	163	19	for	for	ADP
cblr-2899	163	20	corporate	corporate	ADJ
cblr-2899	163	21	bonds	bond	NOUN
cblr-2899	163	22	rated	rate	VERB
cblr-2899	163	23	ccc	ccc	PROPN
cblr-2899	163	24	or	or	CCONJ
cblr-2899	163	25	below).37	below).37	PROPN
cblr-2899	163	26	essentially	essentially	ADV
cblr-2899	163	27	,	,	PUNCT
cblr-2899	163	28	this	this	PRON
cblr-2899	163	29	allowed	allow	VERB
cblr-2899	163	30	cras	cras	PROPN
cblr-2899	163	31	with	with	ADP
cblr-2899	163	32	the	the	DET
cblr-2899	163	33	nrsro	nrsro	ADJ
cblr-2899	163	34	designation	designation	NOUN
cblr-2899	163	35	to	to	PART
cblr-2899	163	36	confer	confer	VERB
cblr-2899	163	37	"	"	PUNCT
cblr-2899	163	38	governmentally	governmentally	ADV
cblr-2899	163	39	-	-	PUNCT
cblr-2899	163	40	delegated	delegate	VERB
cblr-2899	163	41	permission	permission	NOUN
cblr-2899	163	42	to	to	PART
cblr-2899	163	43	buy	buy	VERB
cblr-2899	163	44	upon	upon	SCONJ
cblr-2899	163	45	institutional	institutional	ADJ
cblr-2899	163	46	investors	investor	NOUN
cblr-2899	163	47	that	that	PRON
cblr-2899	163	48	are	be	AUX
cblr-2899	163	49	legally	legally	ADV
cblr-2899	163	50	restricted	restrict	VERB
cblr-2899	163	51	to	to	ADP
cblr-2899	163	52	purchasing	purchase	VERB
cblr-2899	163	53	securities	security	NOUN
cblr-2899	163	54	rated	rate	VERB
cblr-2899	163	55	investment	investment	NOUN
cblr-2899	163	56	grade	grade	NOUN
cblr-2899	163	57	.	.	PUNCT
cblr-2899	163	58	.	.	PUNCT
cblr-2899	163	59	.	.	PUNCT
cblr-2899	163	60	.	.	PUNCT
cblr-2899	164	1	put	put	VERB
cblr-2899	164	2	bluntly	bluntly	ADV
cblr-2899	164	3	,	,	PUNCT
cblr-2899	164	4	an	an	DET
cblr-2899	164	5	nrsro	nrsro	NOUN
cblr-2899	164	6	can	can	AUX
cblr-2899	164	7	sell	sell	VERB
cblr-2899	164	8	its	its	PRON
cblr-2899	164	9	services	service	NOUN
cblr-2899	164	10	to	to	ADP
cblr-2899	164	11	issuers	issuer	NOUN
cblr-2899	164	12	,	,	PUNCT
cblr-2899	164	13	even	even	ADV
cblr-2899	164	14	if	if	SCONJ
cblr-2899	164	15	the	the	DET
cblr-2899	164	16	market	market	NOUN
cblr-2899	164	17	distrusts	distrust	VERB
cblr-2899	164	18	the	the	DET
cblr-2899	164	19	accuracy	accuracy	NOUN
cblr-2899	164	20	of	of	ADP
cblr-2899	164	21	its	its	PRON
cblr-2899	164	22	ratings	rating	NOUN
cblr-2899	164	23	,	,	PUNCT
cblr-2899	164	24	because	because	SCONJ
cblr-2899	164	25	it	it	PRON
cblr-2899	164	26	is	be	AUX
cblr-2899	164	27	in	in	ADP
cblr-2899	164	28	effect	effect	NOUN
cblr-2899	164	29	licensing	license	VERB
cblr-2899	164	30	the	the	DET
cblr-2899	164	31	issuer	issuer	NOUN
cblr-2899	164	32	to	to	PART
cblr-2899	164	33	sell	sell	VERB
cblr-2899	164	34	its	its	PRON
cblr-2899	164	35	debt	debt	NOUN
cblr-2899	164	36	to	to	ADP
cblr-2899	164	37	certain	certain	ADJ
cblr-2899	164	38	regulated	regulated	ADJ
cblr-2899	164	39	investors	investor	NOUN
cblr-2899	164	40	.	.	PUNCT
cblr-2899	165	1	"3	"3	NOUN
cblr-2899	165	2	8	8	NUM
cblr-2899	165	3	many	many	ADJ
cblr-2899	165	4	of	of	ADP
cblr-2899	165	5	the	the	DET
cblr-2899	165	6	big	big	ADJ
cblr-2899	165	7	institutional	institutional	ADJ
cblr-2899	165	8	investors	investor	NOUN
cblr-2899	165	9	or	or	CCONJ
cblr-2899	165	10	originators	originator	NOUN
cblr-2899	165	11	that	that	PRON
cblr-2899	165	12	held	hold	VERB
cblr-2899	165	13	these	these	DET
cblr-2899	165	14	securities	security	NOUN
cblr-2899	165	15	,	,	PUNCT
cblr-2899	165	16	and	and	CCONJ
cblr-2899	165	17	were	be	AUX
cblr-2899	165	18	responsible	responsible	ADJ
cblr-2899	165	19	for	for	ADP
cblr-2899	165	20	fueling	fuel	VERB
cblr-2899	165	21	the	the	DET
cblr-2899	165	22	growth	growth	NOUN
cblr-2899	165	23	of	of	ADP
cblr-2899	165	24	structured	structured	ADJ
cblr-2899	165	25	products	product	NOUN
cblr-2899	165	26	,	,	PUNCT
cblr-2899	165	27	were	be	AUX
cblr-2899	165	28	also	also	ADV
cblr-2899	165	29	subject	subject	ADJ
cblr-2899	165	30	to	to	ADP
cblr-2899	165	31	these	these	DET
cblr-2899	165	32	legal	legal	ADJ
cblr-2899	165	33	restrictions	restriction	NOUN
cblr-2899	165	34	referencing	reference	VERB
cblr-2899	165	35	ratings	rating	NOUN
cblr-2899	165	36	.	.	PUNCT
cblr-2899	166	1	these	these	DET
cblr-2899	166	2	restrictions	restriction	NOUN
cblr-2899	166	3	forced	force	VERB
cblr-2899	166	4	them	they	PRON
cblr-2899	166	5	to	to	PART
cblr-2899	166	6	purchase	purchase	VERB
cblr-2899	166	7	only	only	ADV
cblr-2899	166	8	investment	investment	NOUN
cblr-2899	166	9	-	-	PUNCT
cblr-2899	166	10	grade	grade	NOUN
cblr-2899	166	11	products	product	NOUN
cblr-2899	166	12	and	and	CCONJ
cblr-2899	166	13	also	also	ADV
cblr-2899	166	14	applied	apply	VERB
cblr-2899	166	15	write	write	NOUN
cblr-2899	166	16	-	-	PUNCT
cblr-2899	166	17	down	down	ADP
cblr-2899	166	18	provisions	provision	NOUN
cblr-2899	166	19	requiring	require	VERB
cblr-2899	166	20	greater	great	ADJ
cblr-2899	166	21	capital	capital	NOUN
cblr-2899	166	22	holdings	holding	NOUN
cblr-2899	166	23	for	for	ADP
cblr-2899	166	24	non	non	ADJ
cblr-2899	166	25	-	-	ADJ
cblr-2899	166	26	investment	investment	ADJ
cblr-2899	166	27	-	-	PUNCT
cblr-2899	166	28	grade	grade	NOUN
cblr-2899	166	29	debt	debt	NOUN
cblr-2899	166	30	.	.	PUNCT
cblr-2899	167	1	the	the	DET
cblr-2899	167	2	result	result	NOUN
cblr-2899	167	3	was	be	AUX
cblr-2899	167	4	that	that	SCONJ
cblr-2899	167	5	nrsros	nrsros	PROPN
cblr-2899	167	6	had	have	VERB
cblr-2899	167	7	incentives	incentive	NOUN
cblr-2899	167	8	to	to	PART
cblr-2899	167	9	award	award	VERB
cblr-2899	167	10	high	high	ADJ
cblr-2899	167	11	ratings	rating	NOUN
cblr-2899	167	12	to	to	PART
cblr-2899	167	13	appease	appease	VERB
cblr-2899	167	14	their	their	PRON
cblr-2899	167	15	clients	client	NOUN
cblr-2899	167	16	.	.	PUNCT
cblr-2899	168	1	at	at	ADP
cblr-2899	168	2	the	the	DET
cblr-2899	168	3	same	same	ADJ
cblr-2899	168	4	time	time	NOUN
cblr-2899	168	5	,	,	PUNCT
cblr-2899	168	6	there	there	PRON
cblr-2899	168	7	was	be	VERB
cblr-2899	168	8	little	little	ADJ
cblr-2899	168	9	incentive	incentive	NOUN
cblr-2899	168	10	to	to	PART
cblr-2899	168	11	regularly	regularly	ADV
cblr-2899	168	12	review	review	VERB
cblr-2899	168	13	and	and	CCONJ
cblr-2899	168	14	downgrade	downgrade	VERB
cblr-2899	168	15	ratings	rating	NOUN
cblr-2899	168	16	that	that	PRON
cblr-2899	168	17	ceased	cease	VERB
cblr-2899	168	18	to	to	PART
cblr-2899	168	19	be	be	AUX
cblr-2899	168	20	accurate	accurate	ADJ
cblr-2899	168	21	as	as	ADP
cblr-2899	168	22	a	a	DET
cblr-2899	168	23	result	result	NOUN
cblr-2899	168	24	of	of	ADP
cblr-2899	168	25	subsequent	subsequent	ADJ
cblr-2899	168	26	developments	development	NOUN
cblr-2899	168	27	.	.	PUNCT
cblr-2899	169	1	cras	cras	PROPN
cblr-2899	169	2	were	be	AUX
cblr-2899	169	3	not	not	PART
cblr-2899	169	4	paid	pay	VERB
cblr-2899	169	5	by	by	ADP
cblr-2899	169	6	their	their	PRON
cblr-2899	169	7	clients	client	NOUN
cblr-2899	169	8	to	to	PART
cblr-2899	169	9	do	do	VERB
cblr-2899	169	10	so	so	ADV
cblr-2899	169	11	,	,	PUNCT
cblr-2899	169	12	and	and	CCONJ
cblr-2899	169	13	it	it	PRON
cblr-2899	169	14	only	only	ADV
cblr-2899	169	15	harmed	harm	VERB
cblr-2899	169	16	their	their	PRON
cblr-2899	169	17	clients	client	NOUN
cblr-2899	169	18	if	if	SCONJ
cblr-2899	169	19	they	they	PRON
cblr-2899	169	20	acted	act	VERB
cblr-2899	169	21	on	on	ADP
cblr-2899	169	22	their	their	PRON
cblr-2899	169	23	own	own	ADJ
cblr-2899	169	24	initiative	initiative	NOUN
cblr-2899	169	25	.	.	PUNCT
cblr-2899	170	1	studies	study	NOUN
cblr-2899	170	2	also	also	ADV
cblr-2899	170	3	show	show	VERB
cblr-2899	170	4	that	that	SCONJ
cblr-2899	170	5	cras	cras	PROPN
cblr-2899	170	6	made	make	VERB
cblr-2899	170	7	questionable	questionable	ADJ
cblr-2899	170	8	upward	upward	ADJ
cblr-2899	170	9	adjustments	adjustment	NOUN
cblr-2899	170	10	to	to	ADP
cblr-2899	170	11	their	their	PRON
cblr-2899	170	12	own	own	ADJ
cblr-2899	170	13	models	model	NOUN
cblr-2899	170	14	in	in	ADP
cblr-2899	170	15	an	an	DET
cblr-2899	170	16	effort	effort	NOUN
cblr-2899	170	17	to	to	PART
cblr-2899	170	18	increase	increase	VERB
cblr-2899	170	19	the	the	DET
cblr-2899	170	20	size	size	NOUN
cblr-2899	170	21	of	of	ADP
cblr-2899	170	22	the	the	DET
cblr-2899	170	23	senior	senior	ADJ
cblr-2899	170	24	tranche	tranche	NOUN
cblr-2899	170	25	that	that	PRON
cblr-2899	170	26	could	could	AUX
cblr-2899	170	27	be	be	AUX
cblr-2899	170	28	rated	rate	VERB
cblr-2899	170	29	aaa.39	aaa.39	ADJ
cblr-2899	170	30	7	7	NUM
cblr-2899	170	31	oecd	oecd	PROPN
cblr-2899	170	32	hearing	hearing	NOUN
cblr-2899	170	33	,	,	PUNCT
cblr-2899	170	34	supra	supra	PROPN
cblr-2899	170	35	note	note	NOUN
cblr-2899	170	36	4	4	NUM
cblr-2899	170	37	at	at	ADP
cblr-2899	170	38	69	69	NUM
cblr-2899	170	39	(	(	PUNCT
cblr-2899	170	40	statement	statement	NOUN
cblr-2899	170	41	of	of	ADP
cblr-2899	170	42	karel	karel	PROPN
cblr-2899	170	43	lannoo	lannoo	PROPN
cblr-2899	170	44	,	,	PUNCT
cblr-2899	170	45	ceo	ceo	PROPN
cblr-2899	170	46	,	,	PUNCT
cblr-2899	170	47	ctr	ctr	PROPN
cblr-2899	170	48	.	.	PROPN
cblr-2899	171	1	for	for	ADP
cblr-2899	171	2	european	european	ADJ
cblr-2899	171	3	policy	policy	NOUN
cblr-2899	171	4	studies	study	NOUN
cblr-2899	171	5	)	)	PUNCT
cblr-2899	171	6	.	.	PUNCT
cblr-2899	172	1	38	38	NUM
cblr-2899	172	2	the	the	DET
cblr-2899	172	3	role	role	NOUN
cblr-2899	172	4	and	and	CCONJ
cblr-2899	172	5	impact	impact	NOUN
cblr-2899	172	6	of	of	ADP
cblr-2899	172	7	credit	credit	NOUN
cblr-2899	172	8	rating	rating	NOUN
cblr-2899	172	9	agencies	agency	NOUN
cblr-2899	172	10	on	on	ADP
cblr-2899	172	11	the	the	DET
cblr-2899	172	12	subprime	subprime	ADJ
cblr-2899	172	13	credit	credit	NOUN
cblr-2899	172	14	markets	market	NOUN
cblr-2899	172	15	:	:	PUNCT
cblr-2899	172	16	hearing	hear	VERB
cblr-2899	172	17	before	before	ADP
cblr-2899	172	18	the	the	DET
cblr-2899	172	19	s.	s.	PROPN
cblr-2899	172	20	comm	comm	NOUN
cblr-2899	172	21	.	.	PUNCT
cblr-2899	173	1	on	on	ADP
cblr-2899	173	2	banking	banking	NOUN
cblr-2899	173	3	,	,	PUNCT
cblr-2899	173	4	hous	hous	ADJ
cblr-2899	173	5	.	.	PUNCT
cblr-2899	174	1	&	&	CCONJ
cblr-2899	174	2	urban	urban	PROPN
cblr-2899	174	3	affairs	affairs	PROPN
cblr-2899	174	4	,	,	PUNCT
cblr-2899	174	5	110th	110th	ADJ
cblr-2899	174	6	cong	cong	NOUN
cblr-2899	174	7	.	.	PUNCT
cblr-2899	175	1	8	8	NUM
cblr-2899	175	2	(	(	PUNCT
cblr-2899	175	3	2007	2007	NUM
cblr-2899	175	4	)	)	PUNCT
cblr-2899	176	1	[	[	X
cblr-2899	176	2	hereinafter	hereinafter	NOUN
cblr-2899	176	3	2007	2007	NUM
cblr-2899	176	4	hearings	hearing	NOUN
cblr-2899	176	5	]	]	PUNCT
cblr-2899	176	6	(	(	PUNCT
cblr-2899	176	7	testimony	testimony	NOUN
cblr-2899	176	8	of	of	ADP
cblr-2899	176	9	john	john	PROPN
cblr-2899	176	10	c.	c.	PROPN
cblr-2899	176	11	coffee	coffee	PROPN
cblr-2899	176	12	,	,	PUNCT
cblr-2899	176	13	jr	jr	PROPN
cblr-2899	176	14	.	.	PUNCT
cblr-2899	176	15	)	)	PUNCT
cblr-2899	176	16	.	.	PUNCT
cblr-2899	177	1	9	9	NUM
cblr-2899	177	2	see	see	VERB
cblr-2899	177	3	john	john	PROPN
cblr-2899	177	4	m.	m.	PROPN
cblr-2899	177	5	griffin	griffin	PROPN
cblr-2899	177	6	&	&	CCONJ
cblr-2899	177	7	dragon	dragon	PROPN
cblr-2899	177	8	yongjun	yongjun	PROPN
cblr-2899	177	9	tang	tang	PROPN
cblr-2899	177	10	,	,	PUNCT
cblr-2899	177	11	did	do	AUX
cblr-2899	177	12	subjectivity	subjectivity	NOUN
cblr-2899	177	13	play	play	VERB
cblr-2899	177	14	a	a	DET
cblr-2899	177	15	role	role	NOUN
cblr-2899	177	16	in	in	ADP
cblr-2899	177	17	cdo	cdo	ADJ
cblr-2899	177	18	credit	credit	NOUN
cblr-2899	177	19	ratings	rating	NOUN
cblr-2899	177	20	?	?	PUNCT
cblr-2899	178	1	16	16	NUM
cblr-2899	178	2	(	(	PUNCT
cblr-2899	178	3	mccombs	mccombs	PROPN
cblr-2899	178	4	research	research	PROPN
cblr-2899	178	5	paper	paper	NOUN
cblr-2899	178	6	series	series	NOUN
cblr-2899	178	7	,	,	PUNCT
cblr-2899	178	8	paper	paper	NOUN
cblr-2899	178	9	no	no	INTJ
cblr-2899	178	10	.	.	PUNCT
cblr-2899	178	11	fin-04	fin-04	PROPN
cblr-2899	178	12	-	-	PUNCT
cblr-2899	178	13	10	10	NUM
cblr-2899	178	14	,	,	PUNCT
cblr-2899	178	15	2010	2010	NUM
cblr-2899	178	16	)	)	PUNCT
cblr-2899	178	17	,	,	PUNCT
cblr-2899	178	18	available	available	ADJ
cblr-2899	178	19	at	at	ADP
cblr-2899	178	20	http://ssrn.com/abstract=1364933	http://ssrn.com/abstract=1364933	NOUN
cblr-2899	178	21	.	.	PUNCT
cblr-2899	179	1	[	[	X
cblr-2899	179	2	vol	vol	NOUN
cblr-2899	179	3	.	.	X
cblr-2899	179	4	20121006	20121006	NUM
cblr-2899	179	5	col	col	PROPN
cblr-2899	179	6	umia	umia	PROPN
cblr-2899	179	7	b	b	PROPN
cblr-2899	179	8	usiness	usiness	PROPN
cblr-2899	179	9	la	la	PROPN
cblr-2899	179	10	w	w	PROPN
cblr-2899	179	11	re	re	PROPN
cblr-2899	179	12	vie	vie	PROPN
cblr-2899	179	13	w	w	PROPN
cblr-2899	179	14	figure	figure	NOUN
cblr-2899	179	15	3	3	NUM
cblr-2899	179	16	:	:	PUNCT
cblr-2899	179	17	examples	example	NOUN
cblr-2899	179	18	of	of	ADP
cblr-2899	179	19	ratings	rating	NOUN
cblr-2899	179	20	embedded	embed	VERB
cblr-2899	179	21	in	in	ADP
cblr-2899	179	22	u.s	u.s	PROPN
cblr-2899	179	23	.	.	PROPN
cblr-2899	179	24	regulations	regulation	NOUN
cblr-2899	179	25	40	40	NUM
cblr-2899	179	26	year	year	NOUN
cblr-2899	179	27	rating	rating	NOUN
cblr-2899	179	28	dependent	dependent	ADJ
cblr-2899	179	29	minimum	minimum	ADJ
cblr-2899	179	30	regulator	regulator	NOUN
cblr-2899	179	31	/	/	SYM
cblr-2899	179	32	regulation	regulation	NOUN
cblr-2899	179	33	rating	rating	NOUN
cblr-2899	179	34	regulation	regulation	NOUN
cblr-2899	179	35	1936	1936	NUM
cblr-2899	179	36	prohibited	prohibit	VERB
cblr-2899	179	37	banks	bank	NOUN
cblr-2899	179	38	from	from	ADP
cblr-2899	179	39	bbb	bbb	PROPN
cblr-2899	179	40	occ	occ	PROPN
cblr-2899	179	41	,	,	PUNCT
cblr-2899	179	42	fdic	fdic	PROPN
cblr-2899	179	43	and	and	CCONJ
cblr-2899	179	44	purchasing	purchase	VERB
cblr-2899	179	45	"	"	PUNCT
cblr-2899	179	46	speculative	speculative	ADJ
cblr-2899	179	47	federal	federal	ADJ
cblr-2899	179	48	reserve	reserve	NOUN
cblr-2899	179	49	joint	joint	PROPN
cblr-2899	179	50	securities	security	NOUN
cblr-2899	179	51	"	"	PUNCT
cblr-2899	179	52	statements	statement	NOUN
cblr-2899	179	53	1989	1989	NUM
cblr-2899	179	54	allowed	allow	VERB
cblr-2899	179	55	pension	pension	NOUN
cblr-2899	179	56	funds	fund	NOUN
cblr-2899	179	57	to	to	ADP
cblr-2899	179	58	a	a	DET
cblr-2899	179	59	department	department	NOUN
cblr-2899	179	60	of	of	ADP
cblr-2899	179	61	labor	labor	NOUN
cblr-2899	179	62	invest	invest	VERB
cblr-2899	179	63	in	in	ADP
cblr-2899	179	64	high	high	ADJ
cblr-2899	179	65	rated	rate	VERB
cblr-2899	179	66	abs	ab	NOUN
cblr-2899	179	67	relaxation	relaxation	NOUN
cblr-2899	179	68	of	of	ADP
cblr-2899	179	69	erisa	erisa	NOUN
cblr-2899	179	70	restriction	restriction	NOUN
cblr-2899	179	71	1991	1991	NUM
cblr-2899	179	72	required	require	VERB
cblr-2899	179	73	money	money	NOUN
cblr-2899	179	74	market	market	NOUN
cblr-2899	179	75	al	al	PROPN
cblr-2899	179	76	sec	sec	PROPN
cblr-2899	179	77	amendment	amendment	NOUN
cblr-2899	179	78	to	to	ADP
cblr-2899	179	79	mutual	mutual	ADJ
cblr-2899	179	80	funds	fund	NOUN
cblr-2899	179	81	to	to	PART
cblr-2899	179	82	limit	limit	VERB
cblr-2899	179	83	rule	rule	NOUN
cblr-2899	179	84	2a-7	2a-7	PROPN
cblr-2899	179	85	under	under	ADP
cblr-2899	179	86	the	the	DET
cblr-2899	179	87	holding	holding	NOUN
cblr-2899	179	88	of	of	ADP
cblr-2899	179	89	low	low	ADJ
cblr-2899	179	90	rated	rate	VERB
cblr-2899	179	91	paper	paper	NOUN
cblr-2899	179	92	investment	investment	NOUN
cblr-2899	179	93	company	company	NOUN
cblr-2899	179	94	act	act	NOUN
cblr-2899	179	95	of	of	ADP
cblr-2899	179	96	1940	1940	NUM
cblr-2899	179	97	1994	1994	NUM
cblr-2899	179	98	imposes	impose	VERB
cblr-2899	179	99	differing	differ	VERB
cblr-2899	179	100	capital	capital	NOUN
cblr-2899	179	101	aaa	aaa	NOUN
cblr-2899	179	102	and	and	CCONJ
cblr-2899	179	103	bbb	bbb	PROPN
cblr-2899	179	104	federal	federal	PROPN
cblr-2899	179	105	reserve	reserve	PROPN
cblr-2899	179	106	,	,	PUNCT
cblr-2899	179	107	requirements	requirement	NOUN
cblr-2899	179	108	on	on	ADP
cblr-2899	179	109	banks	bank	NOUN
cblr-2899	179	110	occ	occ	NOUN
cblr-2899	179	111	,	,	PUNCT
cblr-2899	179	112	fdic	fdic	PROPN
cblr-2899	179	113	,	,	PUNCT
cblr-2899	179	114	ots	ots	PROPN
cblr-2899	179	115	holding	hold	VERB
cblr-2899	179	116	different	different	ADJ
cblr-2899	179	117	tranches	tranche	NOUN
cblr-2899	179	118	proposed	propose	VERB
cblr-2899	179	119	rule	rule	NOUN
cblr-2899	179	120	on	on	ADP
cblr-2899	179	121	of	of	ADP
cblr-2899	179	122	abs	ab	NOUN
cblr-2899	179	123	recourse	recourse	VERB
cblr-2899	179	124	and	and	CCONJ
cblr-2899	179	125	direct	direct	ADJ
cblr-2899	179	126	substitutes	substitute	NOUN
cblr-2899	179	127	d.	d.	NOUN
cblr-2899	179	128	lack	lack	NOUN
cblr-2899	179	129	of	of	ADP
cblr-2899	179	130	due	due	ADJ
cblr-2899	179	131	diligence	diligence	NOUN
cblr-2899	179	132	up	up	ADP
cblr-2899	179	133	until	until	ADP
cblr-2899	179	134	now	now	ADV
cblr-2899	179	135	,	,	PUNCT
cblr-2899	179	136	rating	rating	NOUN
cblr-2899	179	137	agencies	agency	NOUN
cblr-2899	179	138	also	also	ADV
cblr-2899	179	139	did	do	AUX
cblr-2899	179	140	not	not	PART
cblr-2899	179	141	do	do	VERB
cblr-2899	179	142	their	their	PRON
cblr-2899	179	143	own	own	ADJ
cblr-2899	179	144	due	due	ADJ
cblr-2899	179	145	diligence	diligence	NOUN
cblr-2899	179	146	.	.	PUNCT
cblr-2899	180	1	they	they	PRON
cblr-2899	180	2	simply	simply	ADV
cblr-2899	180	3	disclosed	disclose	VERB
cblr-2899	180	4	that	that	SCONJ
cblr-2899	180	5	they	they	PRON
cblr-2899	180	6	were	be	AUX
cblr-2899	180	7	relying	rely	VERB
cblr-2899	180	8	on	on	ADP
cblr-2899	180	9	information	information	NOUN
cblr-2899	180	10	and	and	CCONJ
cblr-2899	180	11	assumptions	assumption	NOUN
cblr-2899	180	12	provided	provide	VERB
cblr-2899	180	13	to	to	ADP
cblr-2899	180	14	them	they	PRON
cblr-2899	180	15	by	by	ADP
cblr-2899	180	16	the	the	DET
cblr-2899	180	17	issuers.41	issuers.41	NOUN
cblr-2899	180	18	this	this	DET
cblr-2899	180	19	decision	decision	NOUN
cblr-2899	180	20	was	be	AUX
cblr-2899	180	21	probably	probably	ADV
cblr-2899	180	22	due	due	ADJ
cblr-2899	180	23	to	to	ADP
cblr-2899	180	24	a	a	DET
cblr-2899	180	25	lack	lack	NOUN
cblr-2899	180	26	of	of	ADP
cblr-2899	180	27	sufficient	sufficient	ADJ
cblr-2899	180	28	resources	resource	NOUN
cblr-2899	180	29	given	give	VERB
cblr-2899	180	30	the	the	DET
cblr-2899	180	31	volume	volume	NOUN
cblr-2899	180	32	of	of	ADP
cblr-2899	180	33	products	product	NOUN
cblr-2899	180	34	that	that	PRON
cblr-2899	180	35	were	be	AUX
cblr-2899	180	36	rated.42	rated.42	NOUN
cblr-2899	180	37	therefore	therefore	ADV
cblr-2899	180	38	,	,	PUNCT
cblr-2899	180	39	cras	cras	PROPN
cblr-2899	180	40	were	be	AUX
cblr-2899	180	41	relying	rely	VERB
cblr-2899	180	42	on	on	ADP
cblr-2899	180	43	what	what	PRON
cblr-2899	180	44	was	be	AUX
cblr-2899	180	45	essentially	essentially	ADV
cblr-2899	180	46	unverified	unverified	ADJ
cblr-2899	180	47	data	datum	NOUN
cblr-2899	180	48	.	.	PUNCT
cblr-2899	181	1	especially	especially	ADV
cblr-2899	181	2	in	in	ADP
cblr-2899	181	3	the	the	DET
cblr-2899	181	4	context	context	NOUN
cblr-2899	181	5	of	of	ADP
cblr-2899	181	6	the	the	DET
cblr-2899	181	7	housing	housing	NOUN
cblr-2899	181	8	bubble	bubble	NOUN
cblr-2899	181	9	,	,	PUNCT
cblr-2899	181	10	neither	neither	CCONJ
cblr-2899	181	11	issuers	issuer	NOUN
cblr-2899	181	12	nor	nor	CCONJ
cblr-2899	181	13	investors	investor	NOUN
cblr-2899	181	14	had	have	VERB
cblr-2899	181	15	an	an	DET
cblr-2899	181	16	incentive	incentive	NOUN
cblr-2899	181	17	to	to	PART
cblr-2899	181	18	provide	provide	VERB
cblr-2899	181	19	adverse	adverse	ADJ
cblr-2899	181	20	data	datum	NOUN
cblr-2899	181	21	to	to	ADP
cblr-2899	181	22	the	the	DET
cblr-2899	181	23	cras.43	cras.43	NOUN
cblr-2899	181	24	the	the	DET
cblr-2899	181	25	result	result	NOUN
cblr-2899	181	26	was	be	AUX
cblr-2899	181	27	reliance	reliance	NOUN
cblr-2899	181	28	on	on	ADP
cblr-2899	181	29	questionable	questionable	ADJ
cblr-2899	181	30	assumptions	assumption	NOUN
cblr-2899	181	31	by	by	ADP
cblr-2899	181	32	issuers	issuer	NOUN
cblr-2899	181	33	,	,	PUNCT
cblr-2899	181	34	investors	investor	NOUN
cblr-2899	181	35	,	,	PUNCT
cblr-2899	181	36	and	and	CCONJ
cblr-2899	181	37	cras	cras	X
cblr-2899	181	38	,	,	PUNCT
cblr-2899	181	39	and	and	CCONJ
cblr-2899	181	40	a	a	DET
cblr-2899	181	41	significant	significant	ADJ
cblr-2899	181	42	decrease	decrease	NOUN
cblr-2899	181	43	in	in	ADP
cblr-2899	181	44	the	the	DET
cblr-2899	181	45	40	40	NUM
cblr-2899	181	46	oecd	oecd	PROPN
cblr-2899	181	47	hearing	hearing	NOUN
cblr-2899	181	48	,	,	PUNCT
cblr-2899	181	49	supra	supra	PROPN
cblr-2899	181	50	note	note	NOUN
cblr-2899	181	51	4	4	NUM
cblr-2899	181	52	,	,	PUNCT
cblr-2899	181	53	at	at	ADP
cblr-2899	181	54	8	8	NUM
cblr-2899	181	55	fig.2	fig.2	PROPN
cblr-2899	181	56	.	.	PUNCT
cblr-2899	182	1	41	41	NUM
cblr-2899	182	2	deryn	deryn	PROPN
cblr-2899	182	3	darcy	darcy	PROPN
cblr-2899	182	4	,	,	PUNCT
cblr-2899	182	5	note	note	NOUN
cblr-2899	182	6	,	,	PUNCT
cblr-2899	182	7	credit	credit	NOUN
cblr-2899	182	8	rating	rating	NOUN
cblr-2899	182	9	agencies	agency	NOUN
cblr-2899	182	10	and	and	CCONJ
cblr-2899	182	11	the	the	DET
cblr-2899	182	12	credit	credit	NOUN
cblr-2899	182	13	crisis	crisis	NOUN
cblr-2899	182	14	:	:	PUNCT
cblr-2899	182	15	how	how	SCONJ
cblr-2899	182	16	the	the	DET
cblr-2899	182	17	"	"	PUNCT
cblr-2899	182	18	issuer	issuer	NOUN
cblr-2899	182	19	pays	pay	VERB
cblr-2899	182	20	"	"	PUNCT
cblr-2899	182	21	conflict	conflict	NOUN
cblr-2899	182	22	contributed	contribute	VERB
cblr-2899	182	23	and	and	CCONJ
cblr-2899	182	24	what	what	PRON
cblr-2899	182	25	regulators	regulator	NOUN
cblr-2899	182	26	might	might	AUX
cblr-2899	182	27	do	do	VERB
cblr-2899	182	28	about	about	ADP
cblr-2899	182	29	it	it	PRON
cblr-2899	182	30	,	,	PUNCT
cblr-2899	182	31	2009	2009	NUM
cblr-2899	182	32	colum	colum	NOUN
cblr-2899	182	33	.	.	PUNCT
cblr-2899	183	1	bus	bus	NOUN
cblr-2899	183	2	.	.	PUNCT
cblr-2899	184	1	l.	l.	PROPN
cblr-2899	184	2	rev	rev	PROPN
cblr-2899	184	3	.	.	PROPN
cblr-2899	184	4	605	605	NUM
cblr-2899	184	5	,	,	PUNCT
cblr-2899	184	6	618	618	NUM
cblr-2899	184	7	(	(	PUNCT
cblr-2899	184	8	2009	2009	NUM
cblr-2899	184	9	)	)	PUNCT
cblr-2899	184	10	.	.	PUNCT
cblr-2899	185	1	42	42	NUM
cblr-2899	186	1	i	i	PRON
cblr-2899	186	2	d.	d.	NOUN
cblr-2899	186	3	43	43	NUM
cblr-2899	186	4	coffee	coffee	NOUN
cblr-2899	186	5	,	,	PUNCT
cblr-2899	186	6	supra	supra	PROPN
cblr-2899	186	7	note	note	NOUN
cblr-2899	186	8	33	33	NUM
cblr-2899	186	9	,	,	PUNCT
cblr-2899	186	10	at	at	ADP
cblr-2899	186	11	245	245	NUM
cblr-2899	186	12	.	.	PUNCT
cblr-2899	187	1	no	no	INTJ
cblr-2899	187	2	.	.	PUNCT
cblr-2899	188	1	3:9941	3:9941	NUM
cblr-2899	188	2	reg	reg	PROPN
cblr-2899	188	3	ula	ula	PROPN
cblr-2899	188	4	ting	ting	PROPN
cblr-2899	188	5	credit	credit	NOUN
cblr-2899	188	6	rating	rating	NOUN
cblr-2899	188	7	agencies	agency	NOUN
cblr-2899	188	8	1007	1007	PROPN
cblr-2899	188	9	columbia	columbia	PROPN
cblr-2899	188	10	business	business	PROPN
cblr-2899	188	11	law	law	PROPN
cblr-2899	188	12	review	review	VERB
cblr-2899	188	13	issuers	issuer	NOUN
cblr-2899	188	14	'	'	PART
cblr-2899	188	15	investment	investment	NOUN
cblr-2899	188	16	in	in	ADP
cblr-2899	188	17	due	due	ADJ
cblr-2899	188	18	diligence.4	diligence.4	ADJ
cblr-2899	188	19	issuers	issuer	NOUN
cblr-2899	188	20	were	be	AUX
cblr-2899	188	21	familiar	familiar	ADJ
cblr-2899	188	22	with	with	ADP
cblr-2899	188	23	the	the	DET
cblr-2899	188	24	agencies	agency	NOUN
cblr-2899	188	25	'	'	PART
cblr-2899	188	26	models	model	NOUN
cblr-2899	188	27	,	,	PUNCT
cblr-2899	188	28	so	so	SCONJ
cblr-2899	188	29	they	they	PRON
cblr-2899	188	30	had	have	VERB
cblr-2899	188	31	incentive	incentive	NOUN
cblr-2899	188	32	to	to	PART
cblr-2899	188	33	withhold	withhold	VERB
cblr-2899	188	34	specific	specific	ADJ
cblr-2899	188	35	adverse	adverse	ADJ
cblr-2899	188	36	information	information	NOUN
cblr-2899	188	37	to	to	PART
cblr-2899	188	38	influence	influence	VERB
cblr-2899	188	39	the	the	DET
cblr-2899	188	40	outcome	outcome	NOUN
cblr-2899	188	41	of	of	ADP
cblr-2899	188	42	their	their	PRON
cblr-2899	188	43	ratings.4	ratings.4	NOUN
cblr-2899	188	44	5	5	NUM
cblr-2899	188	45	with	with	ADP
cblr-2899	188	46	respect	respect	NOUN
cblr-2899	188	47	to	to	ADP
cblr-2899	188	48	structured	structured	ADJ
cblr-2899	188	49	debt	debt	NOUN
cblr-2899	188	50	in	in	ADP
cblr-2899	188	51	particular	particular	ADJ
cblr-2899	188	52	,	,	PUNCT
cblr-2899	188	53	originators	originator	NOUN
cblr-2899	188	54	also	also	ADV
cblr-2899	188	55	lacked	lack	VERB
cblr-2899	188	56	"	"	PUNCT
cblr-2899	188	57	skin	skin	NOUN
cblr-2899	188	58	in	in	ADP
cblr-2899	188	59	the	the	DET
cblr-2899	188	60	game	game	NOUN
cblr-2899	188	61	"	"	PUNCT
cblr-2899	188	62	because	because	SCONJ
cblr-2899	188	63	as	as	ADV
cblr-2899	188	64	soon	soon	ADV
cblr-2899	188	65	as	as	SCONJ
cblr-2899	188	66	they	they	PRON
cblr-2899	188	67	benefited	benefit	VERB
cblr-2899	188	68	from	from	ADP
cblr-2899	188	69	origination	origination	NOUN
cblr-2899	188	70	fees	fee	NOUN
cblr-2899	188	71	they	they	PRON
cblr-2899	188	72	were	be	AUX
cblr-2899	188	73	able	able	ADJ
cblr-2899	188	74	to	to	PART
cblr-2899	188	75	move	move	VERB
cblr-2899	188	76	the	the	DET
cblr-2899	188	77	risky	risky	ADJ
cblr-2899	188	78	mortgages	mortgage	NOUN
cblr-2899	188	79	off	off	ADP
cblr-2899	188	80	their	their	PRON
cblr-2899	188	81	balance	balance	NOUN
cblr-2899	188	82	sheets	sheet	NOUN
cblr-2899	188	83	to	to	PART
cblr-2899	188	84	avoid	avoid	VERB
cblr-2899	188	85	bearing	bear	VERB
cblr-2899	188	86	the	the	DET
cblr-2899	188	87	credit	credit	NOUN
cblr-2899	188	88	risk	risk	NOUN
cblr-2899	188	89	of	of	ADP
cblr-2899	188	90	the	the	DET
cblr-2899	188	91	mortgage	mortgage	NOUN
cblr-2899	188	92	borrowers.46	borrowers.46	NOUN
cblr-2899	188	93	this	this	PRON
cblr-2899	188	94	has	have	AUX
cblr-2899	188	95	been	be	AUX
cblr-2899	188	96	called	call	VERB
cblr-2899	188	97	the	the	DET
cblr-2899	188	98	originate	originate	NOUN
cblr-2899	188	99	-	-	PUNCT
cblr-2899	188	100	to	to	ADP
cblr-2899	188	101	-	-	PUNCT
cblr-2899	188	102	distribute	distribute	VERB
cblr-2899	188	103	model	model	NOUN
cblr-2899	188	104	.	.	PUNCT
cblr-2899	189	1	e.	e.	PROPN
cblr-2899	189	2	weak	weak	ADJ
cblr-2899	189	3	incentives	incentive	NOUN
cblr-2899	189	4	to	to	PART
cblr-2899	189	5	provide	provide	VERB
cblr-2899	189	6	current	current	ADJ
cblr-2899	189	7	information	information	NOUN
cblr-2899	189	8	not	not	PART
cblr-2899	189	9	only	only	ADV
cblr-2899	189	10	did	do	AUX
cblr-2899	189	11	rating	rating	NOUN
cblr-2899	189	12	agencies	agency	NOUN
cblr-2899	189	13	have	have	VERB
cblr-2899	189	14	little	little	ADJ
cblr-2899	189	15	incentive	incentive	NOUN
cblr-2899	189	16	to	to	PART
cblr-2899	189	17	discover	discover	VERB
cblr-2899	189	18	adverse	adverse	ADJ
cblr-2899	189	19	information	information	NOUN
cblr-2899	189	20	about	about	ADP
cblr-2899	189	21	the	the	DET
cblr-2899	189	22	issuers	issuer	NOUN
cblr-2899	189	23	'	'	PART
cblr-2899	189	24	products	product	NOUN
cblr-2899	189	25	,	,	PUNCT
cblr-2899	189	26	they	they	PRON
cblr-2899	189	27	had	have	VERB
cblr-2899	189	28	almost	almost	ADV
cblr-2899	189	29	no	no	DET
cblr-2899	189	30	incentive	incentive	NOUN
cblr-2899	189	31	to	to	PART
cblr-2899	189	32	update	update	VERB
cblr-2899	189	33	ratings	rating	NOUN
cblr-2899	189	34	once	once	SCONJ
cblr-2899	189	35	they	they	PRON
cblr-2899	189	36	found	find	VERB
cblr-2899	189	37	inaccuracies	inaccuracy	NOUN
cblr-2899	189	38	in	in	ADP
cblr-2899	189	39	their	their	PRON
cblr-2899	189	40	models	model	NOUN
cblr-2899	189	41	.	.	PUNCT
cblr-2899	190	1	rating	rating	NOUN
cblr-2899	190	2	agencies	agency	NOUN
cblr-2899	190	3	claim	claim	VERB
cblr-2899	190	4	to	to	PART
cblr-2899	190	5	issue	issue	VERB
cblr-2899	190	6	"	"	PUNCT
cblr-2899	190	7	stable	stable	ADJ
cblr-2899	190	8	ratings	rating	NOUN
cblr-2899	190	9	"	"	PUNCT
cblr-2899	190	10	that	that	PRON
cblr-2899	190	11	take	take	VERB
cblr-2899	190	12	a	a	DET
cblr-2899	190	13	longer	long	ADJ
cblr-2899	190	14	-	-	PUNCT
cblr-2899	190	15	term	term	NOUN
cblr-2899	190	16	view	view	NOUN
cblr-2899	190	17	and	and	CCONJ
cblr-2899	190	18	ignore	ignore	VERB
cblr-2899	190	19	temporary	temporary	ADJ
cblr-2899	190	20	or	or	CCONJ
cblr-2899	190	21	cyclical	cyclical	ADJ
cblr-2899	190	22	variations	variation	NOUN
cblr-2899	190	23	.	.	PUNCT
cblr-2899	190	24	"	"	PUNCT
cblr-2899	191	1	this	this	PRON
cblr-2899	191	2	meant	mean	VERB
cblr-2899	191	3	that	that	SCONJ
cblr-2899	191	4	they	they	PRON
cblr-2899	191	5	must	must	AUX
cblr-2899	191	6	delay	delay	VERB
cblr-2899	191	7	judgment	judgment	NOUN
cblr-2899	191	8	about	about	ADP
cblr-2899	191	9	a	a	DET
cblr-2899	191	10	movement	movement	NOUN
cblr-2899	191	11	in	in	ADP
cblr-2899	191	12	the	the	DET
cblr-2899	191	13	credit	credit	NOUN
cblr-2899	191	14	rating	rating	NOUN
cblr-2899	191	15	to	to	PART
cblr-2899	191	16	determine	determine	VERB
cblr-2899	191	17	if	if	SCONJ
cblr-2899	191	18	changes	change	NOUN
cblr-2899	191	19	in	in	ADP
cblr-2899	191	20	market	market	NOUN
cblr-2899	191	21	conditions	condition	NOUN
cblr-2899	191	22	are	be	AUX
cblr-2899	191	23	really	really	ADV
cblr-2899	191	24	sustained	sustain	VERB
cblr-2899	191	25	movements	movement	NOUN
cblr-2899	191	26	or	or	CCONJ
cblr-2899	191	27	merely	merely	ADV
cblr-2899	191	28	part	part	NOUN
cblr-2899	191	29	of	of	ADP
cblr-2899	191	30	a	a	DET
cblr-2899	191	31	reversible	reversible	ADJ
cblr-2899	191	32	cycle	cycle	NOUN
cblr-2899	191	33	.	.	PUNCT
cblr-2899	192	1	4	4	NUM
cblr-2899	192	2	9	9	NUM
cblr-2899	192	3	therefore	therefore	ADV
cblr-2899	192	4	,	,	PUNCT
cblr-2899	192	5	it	it	PRON
cblr-2899	192	6	is	be	AUX
cblr-2899	192	7	difficult	difficult	ADJ
cblr-2899	192	8	to	to	PART
cblr-2899	192	9	differentiate	differentiate	VERB
cblr-2899	192	10	a	a	DET
cblr-2899	192	11	good	good	ADJ
cblr-2899	192	12	faith	faith	NOUN
cblr-2899	192	13	failure	failure	NOUN
cblr-2899	192	14	to	to	PART
cblr-2899	192	15	adjust	adjust	VERB
cblr-2899	192	16	a	a	DET
cblr-2899	192	17	rating	rating	NOUN
cblr-2899	192	18	,	,	PUNCT
cblr-2899	192	19	due	due	ADP
cblr-2899	192	20	to	to	ADP
cblr-2899	192	21	the	the	DET
cblr-2899	192	22	delay	delay	NOUN
cblr-2899	192	23	in	in	ADP
cblr-2899	192	24	determining	determine	VERB
cblr-2899	192	25	whether	whether	SCONJ
cblr-2899	192	26	sustained	sustain	VERB
cblr-2899	192	27	movements	movement	NOUN
cblr-2899	192	28	have	have	AUX
cblr-2899	192	29	occurred	occur	VERB
cblr-2899	192	30	,	,	PUNCT
cblr-2899	192	31	from	from	ADP
cblr-2899	192	32	calculated	calculate	VERB
cblr-2899	192	33	indifference	indifference	NOUN
cblr-2899	192	34	to	to	ADP
cblr-2899	192	35	what	what	PRON
cblr-2899	192	36	is	be	AUX
cblr-2899	192	37	happening	happen	VERB
cblr-2899	192	38	to	to	ADP
cblr-2899	192	39	the	the	DET
cblr-2899	192	40	securities	security	NOUN
cblr-2899	192	41	rated	rate	VERB
cblr-2899	192	42	.	.	PUNCT
cblr-2899	193	1	the	the	DET
cblr-2899	193	2	cras	cras	PROPN
cblr-2899	193	3	used	use	VERB
cblr-2899	193	4	this	this	DET
cblr-2899	193	5	uncertainty	uncertainty	NOUN
cblr-2899	193	6	to	to	ADP
cblr-2899	193	7	their	their	PRON
cblr-2899	193	8	advantage	advantage	NOUN
cblr-2899	193	9	.	.	PUNCT
cblr-2899	194	1	furthermore	furthermore	ADV
cblr-2899	194	2	cra	cra	PROPN
cblr-2899	194	3	receives	receive	VERB
cblr-2899	194	4	no	no	DET
cblr-2899	194	5	revenue	revenue	NOUN
cblr-2899	194	6	from	from	ADP
cblr-2899	194	7	downgrading	downgrade	VERB
cblr-2899	194	8	a	a	DET
cblr-2899	194	9	security	security	NOUN
cblr-2899	194	10	,	,	PUNCT
cblr-2899	194	11	but	but	CCONJ
cblr-2899	194	12	risks	risk	NOUN
cblr-2899	194	13	straining	strain	VERB
cblr-2899	194	14	business	business	NOUN
cblr-2899	194	15	relations	relation	NOUN
cblr-2899	194	16	with	with	ADP
cblr-2899	194	17	the	the	DET
cblr-2899	194	18	client	client	NOUN
cblr-2899	194	19	if	if	SCONJ
cblr-2899	194	20	they	they	PRON
cblr-2899	194	21	do	do	AUX
cblr-2899	194	22	downgrade	downgrade	VERB
cblr-2899	194	23	the	the	DET
cblr-2899	194	24	security.o	security.o	NOUN
cblr-2899	194	25	so	so	ADV
cblr-2899	194	26	even	even	ADV
cblr-2899	194	27	once	once	SCONJ
cblr-2899	194	28	the	the	DET
cblr-2899	194	29	cras	cras	PROPN
cblr-2899	194	30	recognized	recognize	VERB
cblr-2899	194	31	their	their	PRON
cblr-2899	194	32	models	model	NOUN
cblr-2899	194	33	were	be	AUX
cblr-2899	194	34	flawed	flaw	VERB
cblr-2899	194	35	and	and	CCONJ
cblr-2899	194	36	updated	update	VERB
cblr-2899	194	37	44	44	NUM
cblr-2899	194	38	coffee	coffee	NOUN
cblr-2899	194	39	,	,	PUNCT
cblr-2899	194	40	supra	supra	PROPN
cblr-2899	194	41	note	note	NOUN
cblr-2899	194	42	33	33	NUM
cblr-2899	194	43	,	,	PUNCT
cblr-2899	194	44	at	at	ADP
cblr-2899	194	45	245	245	NUM
cblr-2899	194	46	.	.	PUNCT
cblr-2899	195	1	45	45	NUM
cblr-2899	195	2	2008	2008	NUM
cblr-2899	195	3	hearings	hearing	NOUN
cblr-2899	195	4	,	,	PUNCT
cblr-2899	195	5	supra	supra	PROPN
cblr-2899	195	6	note	note	PROPN
cblr-2899	195	7	18	18	NUM
cblr-2899	195	8	,	,	PUNCT
cblr-2899	195	9	at	at	ADP
cblr-2899	195	10	10	10	NUM
cblr-2899	195	11	.	.	PUNCT
cblr-2899	195	12	46	46	NUM
cblr-2899	195	13	amiyatosh	amiyatosh	ADJ
cblr-2899	195	14	purnanandam	purnanandam	NOUN
cblr-2899	195	15	,	,	PUNCT
cblr-2899	195	16	originate	originate	NOUN
cblr-2899	195	17	-	-	PUNCT
cblr-2899	195	18	to	to	ADP
cblr-2899	195	19	-	-	PUNCT
cblr-2899	195	20	distribute	distribute	VERB
cblr-2899	195	21	model	model	NOUN
cblr-2899	195	22	and	and	CCONJ
cblr-2899	195	23	the	the	DET
cblr-2899	195	24	subprime	subprime	ADJ
cblr-2899	195	25	mortgage	mortgage	NOUN
cblr-2899	195	26	crisis	crisis	NOUN
cblr-2899	195	27	2	2	NUM
cblr-2899	195	28	(	(	PUNCT
cblr-2899	195	29	american	american	PROPN
cblr-2899	195	30	finance	finance	PROPN
cblr-2899	195	31	association	association	PROPN
cblr-2899	195	32	,	,	PUNCT
cblr-2899	195	33	2010	2010	NUM
cblr-2899	195	34	atlanta	atlanta	PROPN
cblr-2899	195	35	meetings	meeting	NOUN
cblr-2899	195	36	paper	paper	NOUN
cblr-2899	195	37	,	,	PUNCT
cblr-2899	195	38	2010	2010	NUM
cblr-2899	195	39	)	)	PUNCT
cblr-2899	195	40	,	,	PUNCT
cblr-2899	195	41	available	available	ADJ
cblr-2899	195	42	at	at	ADP
cblr-2899	195	43	http://ssrn.com/abstract=1167786	http://ssrn.com/abstract=1167786	PROPN
cblr-2899	195	44	.	.	PROPN
cblr-2899	196	1	47	47	NUM
cblr-2899	197	1	i	i	PRON
cblr-2899	197	2	d.	d.	PROPN
cblr-2899	197	3	at	at	ADP
cblr-2899	197	4	1	1	NUM
cblr-2899	197	5	.	.	PUNCT
cblr-2899	197	6	48	48	NUM
cblr-2899	197	7	richardson	richardson	PROPN
cblr-2899	197	8	&	&	CCONJ
cblr-2899	197	9	white	white	PROPN
cblr-2899	197	10	,	,	PUNCT
cblr-2899	197	11	supra	supra	PROPN
cblr-2899	197	12	note	note	PROPN
cblr-2899	197	13	25	25	NUM
cblr-2899	197	14	,	,	PUNCT
cblr-2899	197	15	at	at	ADP
cblr-2899	197	16	106	106	NUM
cblr-2899	197	17	.	.	PUNCT
cblr-2899	198	1	49	49	NUM
cblr-2899	199	1	i	i	PRON
cblr-2899	199	2	d.	d.	NOUN
cblr-2899	199	3	50	50	NUM
cblr-2899	199	4	coffee	coffee	NOUN
cblr-2899	199	5	,	,	PUNCT
cblr-2899	199	6	supra	supra	PROPN
cblr-2899	199	7	note	note	NOUN
cblr-2899	199	8	33	33	NUM
cblr-2899	199	9	,	,	PUNCT
cblr-2899	199	10	at	at	ADP
cblr-2899	199	11	269	269	NUM
cblr-2899	199	12	.	.	PUNCT
cblr-2899	199	13	1008	1008	NUM
cblr-2899	200	1	[	[	X
cblr-2899	200	2	vol	vol	NOUN
cblr-2899	200	3	.	.	PUNCT
cblr-2899	200	4	2012	2012	NUM
cblr-2899	200	5	them	they	PRON
cblr-2899	200	6	,	,	PUNCT
cblr-2899	200	7	the	the	DET
cblr-2899	200	8	outstanding	outstanding	ADJ
cblr-2899	200	9	ratings	rating	NOUN
cblr-2899	200	10	were	be	AUX
cblr-2899	200	11	often	often	ADV
cblr-2899	200	12	never	never	ADV
cblr-2899	200	13	updated	update	VERB
cblr-2899	200	14	or	or	CCONJ
cblr-2899	200	15	were	be	AUX
cblr-2899	200	16	updated	update	VERB
cblr-2899	200	17	after	after	SCONJ
cblr-2899	200	18	it	it	PRON
cblr-2899	200	19	was	be	AUX
cblr-2899	200	20	already	already	ADV
cblr-2899	200	21	too	too	ADV
cblr-2899	200	22	late	late	ADJ
cblr-2899	200	23	.	.	PUNCT
cblr-2899	200	24	"	"	PUNCT
cblr-2899	201	1	f.	f.	PROPN
cblr-2899	201	2	immunity	immunity	NOUN
cblr-2899	201	3	from	from	ADP
cblr-2899	201	4	liability	liability	NOUN
cblr-2899	201	5	prior	prior	ADV
cblr-2899	201	6	to	to	ADP
cblr-2899	201	7	dodd	dodd	PROPN
cblr-2899	201	8	-	-	PUNCT
cblr-2899	201	9	frank	frank	PROPN
cblr-2899	201	10	,	,	PUNCT
cblr-2899	201	11	cras	cras	PROPN
cblr-2899	201	12	were	be	AUX
cblr-2899	201	13	immune	immune	ADJ
cblr-2899	201	14	from	from	ADP
cblr-2899	201	15	liability	liability	NOUN
cblr-2899	201	16	to	to	ADP
cblr-2899	201	17	investors	investor	NOUN
cblr-2899	201	18	under	under	ADP
cblr-2899	201	19	rule	rule	NOUN
cblr-2899	201	20	463(g)(1	463(g)(1	PROPN
cblr-2899	201	21	)	)	PUNCT
cblr-2899	201	22	of	of	ADP
cblr-2899	201	23	the	the	DET
cblr-2899	201	24	securities	security	NOUN
cblr-2899	201	25	act	act	NOUN
cblr-2899	201	26	of	of	ADP
cblr-2899	201	27	1933.2	1933.2	NUM
cblr-2899	201	28	this	this	DET
cblr-2899	201	29	result	result	NOUN
cblr-2899	201	30	was	be	AUX
cblr-2899	201	31	partially	partially	ADV
cblr-2899	201	32	due	due	ADJ
cblr-2899	201	33	to	to	ADP
cblr-2899	201	34	a	a	DET
cblr-2899	201	35	first	first	ADJ
cblr-2899	201	36	amendment	amendment	NOUN
cblr-2899	201	37	claim	claim	NOUN
cblr-2899	201	38	that	that	SCONJ
cblr-2899	201	39	the	the	DET
cblr-2899	201	40	cras	cras	X
cblr-2899	201	41	'	'	PART
cblr-2899	201	42	ratings	rating	NOUN
cblr-2899	201	43	are	be	AUX
cblr-2899	201	44	"	"	PUNCT
cblr-2899	201	45	opinions	opinion	NOUN
cblr-2899	201	46	"	"	PUNCT
cblr-2899	201	47	no	no	ADV
cblr-2899	201	48	different	different	ADJ
cblr-2899	201	49	from	from	ADP
cblr-2899	201	50	the	the	DET
cblr-2899	201	51	views	view	NOUN
cblr-2899	201	52	expressed	express	VERB
cblr-2899	201	53	by	by	ADP
cblr-2899	201	54	columnists	columnist	NOUN
cblr-2899	201	55	in	in	ADP
cblr-2899	201	56	financial	financial	ADJ
cblr-2899	201	57	newspapers	newspaper	NOUN
cblr-2899	201	58	,	,	PUNCT
cblr-2899	201	59	which	which	PRON
cblr-2899	201	60	have	have	AUX
cblr-2899	201	61	traditionally	traditionally	ADV
cblr-2899	201	62	been	be	AUX
cblr-2899	201	63	afforded	afford	VERB
cblr-2899	201	64	first	first	ADJ
cblr-2899	201	65	amendment	amendment	NOUN
cblr-2899	201	66	protection	protection	NOUN
cblr-2899	201	67	.	.	PUNCT
cblr-2899	202	1	53	53	NUM
cblr-2899	202	2	without	without	ADP
cblr-2899	202	3	a	a	DET
cblr-2899	202	4	fear	fear	NOUN
cblr-2899	202	5	of	of	ADP
cblr-2899	202	6	liability	liability	NOUN
cblr-2899	202	7	the	the	DET
cblr-2899	202	8	cras	cras	X
cblr-2899	202	9	could	could	AUX
cblr-2899	202	10	safely	safely	ADV
cblr-2899	202	11	risk	risk	VERB
cblr-2899	202	12	being	be	AUX
cblr-2899	202	13	less	less	ADV
cblr-2899	202	14	diligent	diligent	ADJ
cblr-2899	202	15	and	and	CCONJ
cblr-2899	202	16	prudent	prudent	ADJ
cblr-2899	202	17	than	than	SCONJ
cblr-2899	202	18	they	they	PRON
cblr-2899	202	19	otherwise	otherwise	ADV
cblr-2899	202	20	would	would	AUX
cblr-2899	202	21	have	have	AUX
cblr-2899	202	22	been	be	AUX
cblr-2899	202	23	.	.	PUNCT
cblr-2899	203	1	iv	iv	X
cblr-2899	203	2	.	.	PUNCT
cblr-2899	204	1	regulatory	regulatory	ADJ
cblr-2899	204	2	approaches	approach	NOUN
cblr-2899	204	3	a.	a.	NOUN
cblr-2899	204	4	the	the	DET
cblr-2899	204	5	united	united	PROPN
cblr-2899	204	6	states	states	PROPN
cblr-2899	204	7	in	in	ADP
cblr-2899	204	8	1975	1975	NUM
cblr-2899	204	9	,	,	PUNCT
cblr-2899	204	10	the	the	DET
cblr-2899	204	11	securities	securities	PROPN
cblr-2899	204	12	and	and	CCONJ
cblr-2899	204	13	exchange	exchange	PROPN
cblr-2899	204	14	commission	commission	PROPN
cblr-2899	204	15	(	(	PUNCT
cblr-2899	204	16	"	"	PUNCT
cblr-2899	204	17	sec	sec	PROPN
cblr-2899	204	18	"	"	PUNCT
cblr-2899	204	19	)	)	PUNCT
cblr-2899	204	20	created	create	VERB
cblr-2899	204	21	the	the	DET
cblr-2899	204	22	nrsro	nrsro	ADJ
cblr-2899	204	23	status	status	NOUN
cblr-2899	204	24	,	,	PUNCT
cblr-2899	204	25	a	a	DET
cblr-2899	204	26	designation	designation	NOUN
cblr-2899	204	27	required	require	VERB
cblr-2899	204	28	to	to	PART
cblr-2899	204	29	issue	issue	VERB
cblr-2899	204	30	ratings	rating	NOUN
cblr-2899	204	31	that	that	PRON
cblr-2899	204	32	can	can	AUX
cblr-2899	204	33	be	be	AUX
cblr-2899	204	34	relied	rely	VERB
cblr-2899	204	35	on	on	ADP
cblr-2899	204	36	for	for	ADP
cblr-2899	204	37	regulatory	regulatory	ADJ
cblr-2899	204	38	purposes	purpose	NOUN
cblr-2899	204	39	.	.	PUNCT
cblr-2899	205	1	54	54	NUM
cblr-2899	205	2	however	however	ADV
cblr-2899	205	3	,	,	PUNCT
cblr-2899	205	4	the	the	DET
cblr-2899	205	5	designation	designation	NOUN
cblr-2899	205	6	involved	involve	VERB
cblr-2899	205	7	no	no	DET
cblr-2899	205	8	direct	direct	ADJ
cblr-2899	205	9	regulation	regulation	NOUN
cblr-2899	205	10	when	when	SCONJ
cblr-2899	205	11	it	it	PRON
cblr-2899	205	12	was	be	AUX
cblr-2899	205	13	implemented	implement	VERB
cblr-2899	205	14	.	.	PUNCT
cblr-2899	206	1	this	this	PRON
cblr-2899	206	2	changed	change	VERB
cblr-2899	206	3	in	in	ADP
cblr-2899	206	4	2006	2006	NUM
cblr-2899	206	5	when	when	SCONJ
cblr-2899	206	6	the	the	DET
cblr-2899	206	7	enron	enron	PROPN
cblr-2899	206	8	scandal	scandal	NOUN
cblr-2899	206	9	prompted	prompt	VERB
cblr-2899	206	10	criticisms	criticism	NOUN
cblr-2899	206	11	of	of	ADP
cblr-2899	206	12	the	the	DET
cblr-2899	206	13	cras	cras	X
cblr-2899	206	14	because	because	SCONJ
cblr-2899	206	15	they	they	PRON
cblr-2899	206	16	delayed	delay	VERB
cblr-2899	206	17	rating	rating	NOUN
cblr-2899	206	18	downgrades	downgrade	NOUN
cblr-2899	206	19	of	of	ADP
cblr-2899	206	20	enron	enron	PROPN
cblr-2899	207	1	debt.5	debt.5	PROPN
cblr-2899	207	2	in	in	ADP
cblr-2899	207	3	2006	2006	NUM
cblr-2899	207	4	,	,	PUNCT
cblr-2899	207	5	51	51	NUM
cblr-2899	207	6	2008	2008	NUM
cblr-2899	207	7	hearings	hearing	NOUN
cblr-2899	207	8	,	,	PUNCT
cblr-2899	207	9	supra	supra	PROPN
cblr-2899	207	10	note	note	PROPN
cblr-2899	207	11	18	18	NUM
cblr-2899	207	12	,	,	PUNCT
cblr-2899	207	13	at	at	ADP
cblr-2899	207	14	3	3	NUM
cblr-2899	207	15	.	.	NUM
cblr-2899	207	16	52	52	NUM
cblr-2899	207	17	frank	frank	ADJ
cblr-2899	207	18	partnoy	partnoy	ADJ
cblr-2899	207	19	,	,	PUNCT
cblr-2899	207	20	how	how	SCONJ
cblr-2899	207	21	and	and	CCONJ
cblr-2899	207	22	why	why	SCONJ
cblr-2899	207	23	credit	credit	NOUN
cblr-2899	207	24	rating	rating	NOUN
cblr-2899	207	25	agencies	agency	NOUN
cblr-2899	207	26	are	be	AUX
cblr-2899	207	27	not	not	PART
cblr-2899	207	28	like	like	ADP
cblr-2899	207	29	other	other	ADJ
cblr-2899	207	30	gatekeepers	gatekeeper	NOUN
cblr-2899	207	31	84	84	NUM
cblr-2899	207	32	(	(	PUNCT
cblr-2899	207	33	univ	univ	PROPN
cblr-2899	207	34	.	.	PROPN
cblr-2899	208	1	san	san	PROPN
cblr-2899	208	2	diego	diego	PROPN
cblr-2899	208	3	law	law	PROPN
cblr-2899	208	4	sch	sch	PROPN
cblr-2899	208	5	.	.	PROPN
cblr-2899	208	6	,	,	PUNCT
cblr-2899	208	7	research	research	NOUN
cblr-2899	208	8	paper	paper	NOUN
cblr-2899	208	9	no	no	INTJ
cblr-2899	208	10	.	.	PROPN
cblr-2899	209	1	0746	0746	NUM
cblr-2899	209	2	,	,	PUNCT
cblr-2899	209	3	2006	2006	NUM
cblr-2899	209	4	)	)	PUNCT
cblr-2899	209	5	.	.	PUNCT
cblr-2899	210	1	65	65	NUM
cblr-2899	210	2	cras	cra	NOUN
cblr-2899	210	3	have	have	AUX
cblr-2899	210	4	successfully	successfully	ADV
cblr-2899	210	5	applied	apply	VERB
cblr-2899	210	6	the	the	DET
cblr-2899	210	7	first	first	ADJ
cblr-2899	210	8	amendment	amendment	NOUN
cblr-2899	210	9	defense	defense	NOUN
cblr-2899	210	10	in	in	ADP
cblr-2899	210	11	some	some	DET
cblr-2899	210	12	cases	case	NOUN
cblr-2899	210	13	.	.	PUNCT
cblr-2899	211	1	see	see	VERB
cblr-2899	211	2	in	in	ADP
cblr-2899	211	3	re	re	VERB
cblr-2899	211	4	pan	pan	PROPN
cblr-2899	211	5	am	am	PROPN
cblr-2899	211	6	corp	corp	PROPN
cblr-2899	211	7	.	.	PROPN
cblr-2899	211	8	,	,	PUNCT
cblr-2899	211	9	161	161	NUM
cblr-2899	211	10	b.r	b.r	PROPN
cblr-2899	211	11	.	.	PROPN
cblr-2899	211	12	577	577	NUM
cblr-2899	211	13	,	,	PUNCT
cblr-2899	211	14	586	586	NUM
cblr-2899	211	15	(	(	PUNCT
cblr-2899	211	16	bankr	bankr	PROPN
cblr-2899	211	17	.	.	PUNCT
cblr-2899	212	1	s.d.n.y	s.d.n.y	PROPN
cblr-2899	212	2	.	.	PROPN
cblr-2899	212	3	1993	1993	NUM
cblr-2899	212	4	)	)	PUNCT
cblr-2899	212	5	(	(	PUNCT
cblr-2899	212	6	holding	hold	VERB
cblr-2899	212	7	that	that	DET
cblr-2899	212	8	standard	standard	PROPN
cblr-2899	212	9	&	&	CCONJ
cblr-2899	212	10	poor	poor	PROPN
cblr-2899	212	11	's	's	PART
cblr-2899	212	12	as	as	ADP
cblr-2899	212	13	a	a	DET
cblr-2899	212	14	"	"	PUNCT
cblr-2899	212	15	publisher	publisher	NOUN
cblr-2899	212	16	of	of	ADP
cblr-2899	212	17	publicly	publicly	ADV
cblr-2899	212	18	distributed	distribute	VERB
cblr-2899	212	19	financial	financial	ADJ
cblr-2899	212	20	ratings	rating	NOUN
cblr-2899	212	21	.	.	PUNCT
cblr-2899	212	22	.	.	PUNCT
cblr-2899	212	23	.	.	PUNCT
cblr-2899	213	1	deserv[es	deserv[es	NOUN
cblr-2899	213	2	]	]	PUNCT
cblr-2899	213	3	.	.	PUNCT
cblr-2899	213	4	.	.	PUNCT
cblr-2899	213	5	.	.	PUNCT
cblr-2899	214	1	the	the	DET
cblr-2899	214	2	full	full	ADJ
cblr-2899	214	3	breadth	breadth	NOUN
cblr-2899	214	4	of	of	ADP
cblr-2899	214	5	first	first	ADJ
cblr-2899	214	6	amendment	amendment	NOUN
cblr-2899	214	7	safeguards	safeguard	NOUN
cblr-2899	214	8	"	"	PUNCT
cblr-2899	214	9	)	)	PUNCT
cblr-2899	214	10	.	.	PUNCT
cblr-2899	215	1	however	however	ADV
cblr-2899	215	2	,	,	PUNCT
cblr-2899	215	3	cras	cras	PROPN
cblr-2899	215	4	have	have	AUX
cblr-2899	215	5	been	be	AUX
cblr-2899	215	6	less	less	ADV
cblr-2899	215	7	successful	successful	ADJ
cblr-2899	215	8	in	in	ADP
cblr-2899	215	9	other	other	ADJ
cblr-2899	215	10	cases	case	NOUN
cblr-2899	215	11	.	.	PUNCT
cblr-2899	216	1	see	see	VERB
cblr-2899	216	2	abu	abu	PROPN
cblr-2899	216	3	dhabi	dhabi	PROPN
cblr-2899	216	4	commercial	commercial	PROPN
cblr-2899	216	5	bank	bank	PROPN
cblr-2899	216	6	v.	v.	PROPN
cblr-2899	216	7	morgan	morgan	PROPN
cblr-2899	216	8	stanley	stanley	PROPN
cblr-2899	216	9	&	&	CCONJ
cblr-2899	216	10	co.	co.	PROPN
cblr-2899	216	11	,	,	PUNCT
cblr-2899	216	12	651	651	NUM
cblr-2899	216	13	f.	f.	PROPN
cblr-2899	216	14	supp	supp	PROPN
cblr-2899	216	15	.	.	PUNCT
cblr-2899	217	1	2d	2d	NOUN
cblr-2899	217	2	155	155	NUM
cblr-2899	217	3	(	(	PUNCT
cblr-2899	217	4	s.d.n.y	s.d.n.y	PROPN
cblr-2899	217	5	.	.	NOUN
cblr-2899	217	6	2009	2009	NUM
cblr-2899	217	7	)	)	PUNCT
cblr-2899	217	8	(	(	PUNCT
cblr-2899	217	9	rejecting	reject	VERB
cblr-2899	217	10	ratings	rating	NOUN
cblr-2899	217	11	agencies	agency	NOUN
cblr-2899	217	12	'	'	PART
cblr-2899	217	13	claims	claim	NOUN
cblr-2899	217	14	to	to	ADP
cblr-2899	217	15	first	first	PROPN
cblr-2899	217	16	amendment	amendment	PROPN
cblr-2899	217	17	protection	protection	PROPN
cblr-2899	217	18	)	)	PUNCT
cblr-2899	217	19	.	.	PUNCT
cblr-2899	218	1	54	54	NUM
cblr-2899	218	2	coffee	coffee	NOUN
cblr-2899	218	3	,	,	PUNCT
cblr-2899	218	4	supra	supra	PROPN
cblr-2899	218	5	note	note	NOUN
cblr-2899	218	6	33	33	NUM
cblr-2899	218	7	,	,	PUNCT
cblr-2899	218	8	at	at	ADP
cblr-2899	218	9	247	247	NUM
cblr-2899	218	10	.	.	NOUN
cblr-2899	218	11	5	5	NUM
cblr-2899	219	1	i	i	PROPN
cblr-2899	219	2	d.	d.	PROPN
cblr-2899	219	3	1009no	1009no	PROPN
cblr-2899	219	4	.	.	PUNCT
cblr-2899	220	1	3:994	3:994	NUM
cblr-2899	220	2	]	]	X
cblr-2899	220	3	reg	reg	PROPN
cblr-2899	220	4	ula	ula	PROPN
cblr-2899	220	5	ting	ting	PROPN
cblr-2899	220	6	credit	credit	PROPN
cblr-2899	220	7	ra	ra	PROPN
cblr-2899	220	8	ting	ting	PROPN
cblr-2899	220	9	agencies	agencies	PROPN
cblr-2899	220	10	congress	congress	PROPN
cblr-2899	220	11	enacted	enact	VERB
cblr-2899	220	12	the	the	DET
cblr-2899	220	13	credit	credit	NOUN
cblr-2899	220	14	rating	rating	NOUN
cblr-2899	220	15	agency	agency	PROPN
cblr-2899	220	16	reform	reform	PROPN
cblr-2899	220	17	act	act	PROPN
cblr-2899	220	18	,	,	PUNCT
cblr-2899	220	19	which	which	PRON
cblr-2899	220	20	sought	seek	VERB
cblr-2899	220	21	to	to	PART
cblr-2899	220	22	"	"	PUNCT
cblr-2899	220	23	facilitate	facilitate	VERB
cblr-2899	220	24	entry	entry	NOUN
cblr-2899	220	25	by	by	ADP
cblr-2899	220	26	new	new	ADJ
cblr-2899	220	27	agencies	agency	NOUN
cblr-2899	220	28	into	into	ADP
cblr-2899	220	29	the	the	DET
cblr-2899	220	30	nrsro	nrsro	ADJ
cblr-2899	220	31	market	market	NOUN
cblr-2899	220	32	and	and	CCONJ
cblr-2899	220	33	...	...	PUNCT
cblr-2899	220	34	mandate	mandate	VERB
cblr-2899	220	35	greater	great	ADJ
cblr-2899	220	36	accountability	accountability	NOUN
cblr-2899	220	37	by	by	ADP
cblr-2899	220	38	existing	exist	VERB
cblr-2899	220	39	nrsros	nrsro	NOUN
cblr-2899	220	40	.	.	PUNCT
cblr-2899	220	41	"	"	PUNCT
cblr-2899	221	1	6	6	NUM
cblr-2899	221	2	following	follow	VERB
cblr-2899	221	3	the	the	DET
cblr-2899	221	4	passage	passage	NOUN
cblr-2899	221	5	of	of	ADP
cblr-2899	221	6	the	the	DET
cblr-2899	221	7	2006	2006	NUM
cblr-2899	221	8	act	act	NOUN
cblr-2899	221	9	,	,	PUNCT
cblr-2899	221	10	the	the	DET
cblr-2899	221	11	sec	sec	PROPN
cblr-2899	221	12	expanded	expand	VERB
cblr-2899	221	13	the	the	DET
cblr-2899	221	14	number	number	NOUN
cblr-2899	221	15	of	of	ADP
cblr-2899	221	16	nrsros	nrsros	PROPN
cblr-2899	221	17	to	to	PART
cblr-2899	221	18	ten	ten	NUM
cblr-2899	221	19	,	,	PUNCT
cblr-2899	221	20	although	although	SCONJ
cblr-2899	221	21	the	the	DET
cblr-2899	221	22	current	current	ADJ
cblr-2899	221	23	number	number	NOUN
cblr-2899	221	24	of	of	ADP
cblr-2899	221	25	nrsros	nrsros	PROPN
cblr-2899	221	26	is	be	AUX
cblr-2899	221	27	nine	nine	NUM
cblr-2899	221	28	,	,	PUNCT
cblr-2899	221	29	after	after	SCONJ
cblr-2899	221	30	one	one	NUM
cblr-2899	221	31	agency	agency	NOUN
cblr-2899	221	32	withdrew	withdraw	VERB
cblr-2899	221	33	its	its	PRON
cblr-2899	221	34	nrsro	nrsro	ADJ
cblr-2899	221	35	status.7	status.7	NOUN
cblr-2899	221	36	pursuant	pursuant	ADV
cblr-2899	221	37	to	to	ADP
cblr-2899	221	38	the	the	DET
cblr-2899	221	39	powers	power	NOUN
cblr-2899	221	40	it	it	PRON
cblr-2899	221	41	was	be	AUX
cblr-2899	221	42	granted	grant	VERB
cblr-2899	221	43	in	in	ADP
cblr-2899	221	44	the	the	DET
cblr-2899	221	45	2006	2006	NUM
cblr-2899	221	46	act	act	NOUN
cblr-2899	221	47	,	,	PUNCT
cblr-2899	221	48	the	the	DET
cblr-2899	221	49	sec	sec	PROPN
cblr-2899	221	50	promulgated	promulgate	VERB
cblr-2899	221	51	a	a	DET
cblr-2899	221	52	series	series	NOUN
cblr-2899	221	53	of	of	ADP
cblr-2899	221	54	rules	rule	NOUN
cblr-2899	221	55	to	to	PART
cblr-2899	221	56	enhance	enhance	VERB
cblr-2899	221	57	rating	rating	NOUN
cblr-2899	221	58	transparency	transparency	NOUN
cblr-2899	221	59	and	and	CCONJ
cblr-2899	221	60	to	to	PART
cblr-2899	221	61	increase	increase	VERB
cblr-2899	221	62	nrsros	nrsros	PROPN
cblr-2899	221	63	'	'	PART
cblr-2899	221	64	record	record	NOUN
cblr-2899	221	65	keeping	keeping	NOUN
cblr-2899	221	66	and	and	CCONJ
cblr-2899	221	67	reporting	report	VERB
cblr-2899	221	68	obligations	obligation	NOUN
cblr-2899	221	69	.	.	PUNCT
cblr-2899	222	1	most	most	ADV
cblr-2899	222	2	importantly	importantly	ADV
cblr-2899	222	3	,	,	PUNCT
cblr-2899	222	4	these	these	DET
cblr-2899	222	5	regulations	regulation	NOUN
cblr-2899	222	6	include	include	VERB
cblr-2899	222	7	rule	rule	NOUN
cblr-2899	222	8	17g-2(a)(2	17g-2(a)(2	NOUN
cblr-2899	222	9	)	)	PUNCT
cblr-2899	222	10	,	,	PUNCT
cblr-2899	222	11	amended	amend	VERB
cblr-2899	222	12	in	in	ADP
cblr-2899	222	13	2009	2009	NUM
cblr-2899	222	14	,	,	PUNCT
cblr-2899	222	15	to	to	PART
cblr-2899	222	16	require	require	VERB
cblr-2899	222	17	nrsros	nrsro	NOUN
cblr-2899	222	18	to	to	PART
cblr-2899	222	19	"	"	PUNCT
cblr-2899	222	20	document	document	VERB
cblr-2899	222	21	the	the	DET
cblr-2899	222	22	reasons	reason	NOUN
cblr-2899	222	23	for	for	ADP
cblr-2899	222	24	a	a	DET
cblr-2899	222	25	deviation	deviation	NOUN
cblr-2899	222	26	when	when	SCONJ
cblr-2899	222	27	a	a	DET
cblr-2899	222	28	final	final	ADJ
cblr-2899	222	29	credit	credit	NOUN
cblr-2899	222	30	rating	rating	NOUN
cblr-2899	222	31	materially	materially	ADV
cblr-2899	222	32	deviates	deviate	VERB
cblr-2899	222	33	from	from	ADP
cblr-2899	222	34	the	the	DET
cblr-2899	222	35	rating	rating	NOUN
cblr-2899	222	36	implied	imply	VERB
cblr-2899	222	37	by	by	ADP
cblr-2899	222	38	the	the	DET
cblr-2899	222	39	nrsro	nrsro	NOUN
cblr-2899	222	40	's	's	PART
cblr-2899	222	41	quantitative	quantitative	ADJ
cblr-2899	222	42	model	model	NOUN
cblr-2899	222	43	.	.	PUNCT
cblr-2899	223	1	"58	"58	PROPN
cblr-2899	223	2	they	they	PRON
cblr-2899	223	3	also	also	ADV
cblr-2899	223	4	include	include	VERB
cblr-2899	223	5	rule	rule	NOUN
cblr-2899	223	6	17g-5	17g-5	NUM
cblr-2899	223	7	,	,	PUNCT
cblr-2899	223	8	also	also	ADV
cblr-2899	223	9	amended	amend	VERB
cblr-2899	223	10	in	in	ADP
cblr-2899	223	11	2009	2009	NUM
cblr-2899	223	12	,	,	PUNCT
cblr-2899	223	13	which	which	PRON
cblr-2899	223	14	is	be	AUX
cblr-2899	223	15	an	an	DET
cblr-2899	223	16	equal	equal	ADJ
cblr-2899	223	17	access	access	NOUN
cblr-2899	223	18	rule	rule	NOUN
cblr-2899	223	19	requiring	require	VERB
cblr-2899	223	20	nrsros	nrsro	NOUN
cblr-2899	223	21	to	to	PART
cblr-2899	223	22	make	make	VERB
cblr-2899	223	23	available	available	ADJ
cblr-2899	223	24	to	to	ADP
cblr-2899	223	25	all	all	DET
cblr-2899	223	26	other	other	ADJ
cblr-2899	223	27	nrsros	nrsros	PROPN
cblr-2899	223	28	information	information	NOUN
cblr-2899	223	29	they	they	PRON
cblr-2899	223	30	received	receive	VERB
cblr-2899	223	31	from	from	ADP
cblr-2899	223	32	issuers	issuer	NOUN
cblr-2899	223	33	who	who	PRON
cblr-2899	223	34	hired	hire	VERB
cblr-2899	223	35	them.5	them.5	PRON
cblr-2899	223	36	9	9	NUM
cblr-2899	223	37	however	however	ADV
cblr-2899	223	38	,	,	PUNCT
cblr-2899	223	39	a	a	DET
cblr-2899	223	40	judgment	judgment	NOUN
cblr-2899	223	41	was	be	AUX
cblr-2899	223	42	made	make	VERB
cblr-2899	223	43	to	to	PART
cblr-2899	223	44	not	not	PART
cblr-2899	223	45	require	require	VERB
cblr-2899	223	46	regulatory	regulatory	ADJ
cblr-2899	223	47	approval	approval	NOUN
cblr-2899	223	48	of	of	ADP
cblr-2899	223	49	the	the	DET
cblr-2899	223	50	models	model	NOUN
cblr-2899	223	51	used	use	VERB
cblr-2899	223	52	to	to	PART
cblr-2899	223	53	produce	produce	VERB
cblr-2899	223	54	ratings	rating	NOUN
cblr-2899	223	55	.	.	PUNCT
cblr-2899	224	1	unique	unique	ADJ
cblr-2899	224	2	to	to	ADP
cblr-2899	224	3	the	the	DET
cblr-2899	224	4	united	united	PROPN
cblr-2899	224	5	states	states	PROPN
cblr-2899	224	6	,	,	PUNCT
cblr-2899	224	7	section	section	NOUN
cblr-2899	224	8	15e(c)(2	15e(c)(2	NUM
cblr-2899	224	9	)	)	PUNCT
cblr-2899	224	10	of	of	ADP
cblr-2899	224	11	the	the	DET
cblr-2899	224	12	exchange	exchange	NOUN
cblr-2899	224	13	act	act	NOUN
cblr-2899	224	14	expressly	expressly	ADV
cblr-2899	224	15	prohibits	prohibit	VERB
cblr-2899	224	16	the	the	DET
cblr-2899	224	17	sec	sec	PROPN
cblr-2899	224	18	from	from	ADP
cblr-2899	224	19	regulating	regulate	VERB
cblr-2899	224	20	"	"	PUNCT
cblr-2899	224	21	the	the	DET
cblr-2899	224	22	substance	substance	NOUN
cblr-2899	224	23	of	of	ADP
cblr-2899	224	24	credit	credit	NOUN
cblr-2899	224	25	ratings	rating	NOUN
cblr-2899	224	26	or	or	CCONJ
cblr-2899	224	27	the	the	DET
cblr-2899	224	28	procedures	procedure	NOUN
cblr-2899	224	29	and	and	CCONJ
cblr-2899	224	30	56	56	NUM
cblr-2899	224	31	coffee	coffee	NOUN
cblr-2899	224	32	,	,	PUNCT
cblr-2899	224	33	supra	supra	PROPN
cblr-2899	224	34	note	note	NOUN
cblr-2899	224	35	33	33	NUM
cblr-2899	224	36	,	,	PUNCT
cblr-2899	224	37	at	at	ADP
cblr-2899	224	38	247	247	NUM
cblr-2899	224	39	.	.	PUNCT
cblr-2899	224	40	57	57	NUM
cblr-2899	224	41	on	on	ADP
cblr-2899	224	42	october	october	PROPN
cblr-2899	224	43	13	13	NUM
cblr-2899	224	44	,	,	PUNCT
cblr-2899	224	45	2011	2011	NUM
cblr-2899	224	46	,	,	PUNCT
cblr-2899	224	47	rating	rating	NOUN
cblr-2899	224	48	and	and	CCONJ
cblr-2899	224	49	investment	investment	NOUN
cblr-2899	224	50	information	information	NOUN
cblr-2899	224	51	,	,	PUNCT
cblr-2899	224	52	inc	inc	PROPN
cblr-2899	224	53	.	.	PROPN
cblr-2899	224	54	,	,	PUNCT
cblr-2899	224	55	which	which	PRON
cblr-2899	224	56	was	be	AUX
cblr-2899	224	57	registered	register	VERB
cblr-2899	224	58	with	with	ADP
cblr-2899	224	59	the	the	DET
cblr-2899	224	60	sec	sec	PROPN
cblr-2899	224	61	as	as	ADP
cblr-2899	224	62	an	an	DET
cblr-2899	224	63	nrsro	nrsro	NOUN
cblr-2899	224	64	since	since	SCONJ
cblr-2899	224	65	2007	2007	NUM
cblr-2899	224	66	,	,	PUNCT
cblr-2899	224	67	furnished	furnish	VERB
cblr-2899	224	68	the	the	DET
cblr-2899	224	69	sec	sec	PROPN
cblr-2899	224	70	with	with	ADP
cblr-2899	224	71	a	a	DET
cblr-2899	224	72	notice	notice	NOUN
cblr-2899	224	73	of	of	ADP
cblr-2899	224	74	withdrawal	withdrawal	NOUN
cblr-2899	224	75	,	,	PUNCT
cblr-2899	224	76	effective	effective	ADJ
cblr-2899	224	77	november	november	PROPN
cblr-2899	224	78	,	,	PUNCT
cblr-2899	224	79	2011	2011	NUM
cblr-2899	224	80	.	.	PUNCT
cblr-2899	225	1	see	see	VERB
cblr-2899	225	2	sec	sec	PROPN
cblr-2899	225	3	,	,	PUNCT
cblr-2899	225	4	report	report	NOUN
cblr-2899	225	5	to	to	ADP
cblr-2899	225	6	congress	congress	NOUN
cblr-2899	225	7	:	:	PUNCT
cblr-2899	225	8	credit	credit	NOUN
cblr-2899	225	9	rating	rating	NOUN
cblr-2899	225	10	standardization	standardization	NOUN
cblr-2899	225	11	study	study	NOUN
cblr-2899	225	12	7	7	NUM
cblr-2899	225	13	(	(	PUNCT
cblr-2899	225	14	2012	2012	NUM
cblr-2899	225	15	)	)	PUNCT
cblr-2899	226	1	[	[	X
cblr-2899	226	2	hereinafter	hereinafter	NOUN
cblr-2899	226	3	credit	credit	NOUN
cblr-2899	226	4	rating	rating	NOUN
cblr-2899	226	5	standardization	standardization	NOUN
cblr-2899	226	6	study	study	NOUN
cblr-2899	226	7	]	]	PUNCT
cblr-2899	226	8	,	,	PUNCT
cblr-2899	226	9	available	available	ADJ
cblr-2899	226	10	at	at	ADP
cblr-2899	226	11	www.sec.gov/news/studies/2012/939h-credit-rating-standardization.pdf	www.sec.gov/news/studies/2012/939h-credit-rating-standardization.pdf	NOUN
cblr-2899	226	12	.	.	PUNCT
cblr-2899	227	1	additionally	additionally	ADV
cblr-2899	227	2	,	,	PUNCT
cblr-2899	227	3	the	the	DET
cblr-2899	227	4	sec	sec	PROPN
cblr-2899	227	5	is	be	AUX
cblr-2899	227	6	now	now	ADV
cblr-2899	227	7	suing	sue	VERB
cblr-2899	227	8	one	one	NUM
cblr-2899	227	9	of	of	ADP
cblr-2899	227	10	the	the	DET
cblr-2899	227	11	nine	nine	NUM
cblr-2899	227	12	remaining	remain	VERB
cblr-2899	227	13	rating	rating	NOUN
cblr-2899	227	14	agencies	agency	NOUN
cblr-2899	227	15	,	,	PUNCT
cblr-2899	227	16	egan	egan	PROPN
cblr-2899	227	17	-	-	PUNCT
cblr-2899	227	18	jones	jones	PROPN
cblr-2899	227	19	,	,	PUNCT
cblr-2899	227	20	for	for	ADP
cblr-2899	227	21	material	material	NOUN
cblr-2899	227	22	misrepresentations	misrepresentation	NOUN
cblr-2899	227	23	and	and	CCONJ
cblr-2899	227	24	omissions	omission	NOUN
cblr-2899	227	25	regarding	regard	VERB
cblr-2899	227	26	their	their	PRON
cblr-2899	227	27	experience	experience	NOUN
cblr-2899	227	28	in	in	ADP
cblr-2899	227	29	rating	rating	NOUN
cblr-2899	227	30	debt	debt	NOUN
cblr-2899	227	31	in	in	ADP
cblr-2899	227	32	the	the	DET
cblr-2899	227	33	company	company	NOUN
cblr-2899	227	34	's	's	PART
cblr-2899	227	35	july	july	PROPN
cblr-2899	227	36	2008	2008	NUM
cblr-2899	227	37	application	application	NOUN
cblr-2899	227	38	to	to	PART
cblr-2899	227	39	register	register	VERB
cblr-2899	227	40	as	as	ADP
cblr-2899	227	41	a	a	DET
cblr-2899	227	42	nrsro	nrsro	ADJ
cblr-2899	227	43	.	.	PUNCT
cblr-2899	228	1	see	see	VERB
cblr-2899	228	2	press	press	NOUN
cblr-2899	228	3	release	release	NOUN
cblr-2899	228	4	,	,	PUNCT
cblr-2899	228	5	sec	sec	PROPN
cblr-2899	228	6	,	,	PUNCT
cblr-2899	228	7	egan	egan	PROPN
cblr-2899	228	8	-	-	PUNCT
cblr-2899	228	9	jones	jones	PROPN
cblr-2899	228	10	ratings	ratings	PROPN
cblr-2899	228	11	co.	co.	PROPN
cblr-2899	228	12	and	and	CCONJ
cblr-2899	228	13	sean	sean	PROPN
cblr-2899	228	14	egan	egan	PROPN
cblr-2899	228	15	charged	charge	VERB
cblr-2899	228	16	with	with	ADP
cblr-2899	228	17	making	make	VERB
cblr-2899	228	18	material	material	NOUN
cblr-2899	228	19	misrepresentations	misrepresentation	NOUN
cblr-2899	228	20	to	to	ADP
cblr-2899	228	21	sec	sec	PROPN
cblr-2899	228	22	(	(	PUNCT
cblr-2899	228	23	apr	apr	PROPN
cblr-2899	228	24	.	.	PROPN
cblr-2899	228	25	24	24	NUM
cblr-2899	228	26	,	,	PUNCT
cblr-2899	228	27	2012	2012	NUM
cblr-2899	228	28	)	)	PUNCT
cblr-2899	228	29	,	,	PUNCT
cblr-2899	228	30	www.sec.gov/news/press/2012/	www.sec.gov/news/press/2012/	NOUN
cblr-2899	229	1	2012-75.htm	2012-75.htm	NUM
cblr-2899	229	2	.	.	NOUN
cblr-2899	230	1	58	58	NUM
cblr-2899	230	2	coffee	coffee	NOUN
cblr-2899	230	3	,	,	PUNCT
cblr-2899	230	4	supra	supra	PROPN
cblr-2899	230	5	note	note	NOUN
cblr-2899	230	6	33	33	NUM
cblr-2899	230	7	,	,	PUNCT
cblr-2899	230	8	at	at	ADP
cblr-2899	230	9	271	271	NUM
cblr-2899	230	10	.	.	NUM
cblr-2899	230	11	59	59	NUM
cblr-2899	231	1	i	i	PRON
cblr-2899	231	2	d.	d.	PROPN
cblr-2899	231	3	at	at	ADP
cblr-2899	231	4	248	248	NUM
cblr-2899	231	5	.	.	PUNCT
cblr-2899	232	1	columbi1a	columbi1a	PROPN
cblr-2899	232	2	b	b	X
cblr-2899	232	3	usiness	usiness	PROPN
cblr-2899	232	4	la	la	PROPN
cblr-2899	232	5	w	w	PROPN
cblr-2899	232	6	re	re	PROPN
cblr-2899	232	7	vie	vie	PROPN
cblr-2899	232	8	w	w	PROPN
cblr-2899	233	1	[	[	X
cblr-2899	233	2	vol	vol	NOUN
cblr-2899	233	3	.	.	PUNCT
cblr-2899	234	1	20121010	20121010	NUM
cblr-2899	234	2	methodologies	methodology	NOUN
cblr-2899	234	3	by	by	ADP
cblr-2899	234	4	which	which	PRON
cblr-2899	234	5	an	an	DET
cblr-2899	234	6	nrsro	nrsro	NOUN
cblr-2899	234	7	determines	determine	VERB
cblr-2899	234	8	credit	credit	NOUN
cblr-2899	234	9	ratings	rating	NOUN
cblr-2899	234	10	.	.	PUNCT
cblr-2899	235	1	""o	""o	PUNCT
cblr-2899	235	2	in	in	ADP
cblr-2899	235	3	2010	2010	NUM
cblr-2899	235	4	,	,	PUNCT
cblr-2899	235	5	the	the	DET
cblr-2899	235	6	dodd	dodd	PROPN
cblr-2899	235	7	-	-	PUNCT
cblr-2899	235	8	frank	frank	PROPN
cblr-2899	235	9	act	act	PROPN
cblr-2899	235	10	was	be	AUX
cblr-2899	235	11	passed	pass	VERB
cblr-2899	235	12	.	.	PUNCT
cblr-2899	236	1	it	it	PRON
cblr-2899	236	2	established	establish	VERB
cblr-2899	236	3	an	an	DET
cblr-2899	236	4	office	office	NOUN
cblr-2899	236	5	of	of	ADP
cblr-2899	236	6	credit	credit	NOUN
cblr-2899	236	7	ratings	rating	NOUN
cblr-2899	236	8	at	at	ADP
cblr-2899	236	9	the	the	DET
cblr-2899	236	10	sec	sec	PROPN
cblr-2899	236	11	with	with	ADP
cblr-2899	236	12	the	the	DET
cblr-2899	236	13	authority	authority	NOUN
cblr-2899	236	14	to	to	PART
cblr-2899	236	15	administer	administer	VERB
cblr-2899	236	16	the	the	DET
cblr-2899	236	17	rules	rule	NOUN
cblr-2899	236	18	of	of	ADP
cblr-2899	236	19	the	the	DET
cblr-2899	236	20	sec	sec	PROPN
cblr-2899	236	21	with	with	ADP
cblr-2899	236	22	respect	respect	NOUN
cblr-2899	236	23	to	to	ADP
cblr-2899	236	24	cras.6	cras.6	PROPN
cblr-2899	236	25	1	1	NUM
cblr-2899	236	26	the	the	DET
cblr-2899	236	27	new	new	ADJ
cblr-2899	236	28	regulations	regulation	NOUN
cblr-2899	236	29	include	include	VERB
cblr-2899	236	30	,	,	PUNCT
cblr-2899	236	31	in	in	ADP
cblr-2899	236	32	relevant	relevant	ADJ
cblr-2899	236	33	part	part	NOUN
cblr-2899	236	34	:	:	PUNCT
cblr-2899	236	35	1	1	X
cblr-2899	236	36	)	)	PUNCT
cblr-2899	236	37	provisions	provision	NOUN
cblr-2899	236	38	to	to	PART
cblr-2899	236	39	increase	increase	VERB
cblr-2899	236	40	the	the	DET
cblr-2899	236	41	transparency	transparency	NOUN
cblr-2899	236	42	of	of	ADP
cblr-2899	236	43	the	the	DET
cblr-2899	236	44	credit	credit	NOUN
cblr-2899	236	45	rating	rating	NOUN
cblr-2899	236	46	process	process	NOUN
cblr-2899	236	47	.	.	PUNCT
cblr-2899	237	1	section	section	NOUN
cblr-2899	237	2	932	932	NUM
cblr-2899	237	3	requires	require	VERB
cblr-2899	237	4	an	an	DET
cblr-2899	237	5	asset	asset	NOUN
cblr-2899	237	6	backed	back	VERB
cblr-2899	237	7	security	security	NOUN
cblr-2899	237	8	(	(	PUNCT
cblr-2899	237	9	"	"	PUNCT
cblr-2899	237	10	abs	ab	NOUN
cblr-2899	237	11	"	"	PUNCT
cblr-2899	237	12	)	)	PUNCT
cblr-2899	237	13	issuer	issuer	NOUN
cblr-2899	237	14	or	or	CCONJ
cblr-2899	237	15	underwriter	underwriter	NOUN
cblr-2899	237	16	to	to	PART
cblr-2899	237	17	make	make	VERB
cblr-2899	237	18	publicly	publicly	ADV
cblr-2899	237	19	available	available	ADJ
cblr-2899	237	20	the	the	DET
cblr-2899	237	21	findings	finding	NOUN
cblr-2899	237	22	and	and	CCONJ
cblr-2899	237	23	conclusions	conclusion	NOUN
cblr-2899	237	24	of	of	ADP
cblr-2899	237	25	any	any	DET
cblr-2899	237	26	third	third	ADJ
cblr-2899	237	27	-	-	PUNCT
cblr-2899	237	28	party	party	NOUN
cblr-2899	237	29	due	due	ADJ
cblr-2899	237	30	diligence	diligence	NOUN
cblr-2899	237	31	report	report	NOUN
cblr-2899	237	32	.	.	PUNCT
cblr-2899	238	1	62	62	NUM
cblr-2899	238	2	the	the	DET
cblr-2899	238	3	section	section	NOUN
cblr-2899	238	4	also	also	ADV
cblr-2899	238	5	requires	require	VERB
cblr-2899	238	6	cras	cra	NOUN
cblr-2899	238	7	to	to	PART
cblr-2899	238	8	disclose	disclose	VERB
cblr-2899	238	9	their	their	PRON
cblr-2899	238	10	rating	rating	NOUN
cblr-2899	238	11	methodologies	methodology	NOUN
cblr-2899	238	12	and	and	CCONJ
cblr-2899	238	13	the	the	DET
cblr-2899	238	14	performance	performance	NOUN
cblr-2899	238	15	of	of	ADP
cblr-2899	238	16	previous	previous	ADJ
cblr-2899	238	17	ratings	rating	NOUN
cblr-2899	238	18	for	for	ADP
cblr-2899	238	19	each	each	DET
cblr-2899	238	20	type	type	NOUN
cblr-2899	238	21	of	of	ADP
cblr-2899	238	22	security	security	NOUN
cblr-2899	238	23	.	.	PUNCT
cblr-2899	239	1	63	63	NUM
cblr-2899	239	2	furthermore	furthermore	ADV
cblr-2899	239	3	,	,	PUNCT
cblr-2899	239	4	section	section	NOUN
cblr-2899	239	5	932	932	NUM
cblr-2899	239	6	gives	give	VERB
cblr-2899	239	7	the	the	DET
cblr-2899	239	8	sec	sec	PROPN
cblr-2899	239	9	authority	authority	NOUN
cblr-2899	239	10	to	to	PART
cblr-2899	239	11	suspend	suspend	VERB
cblr-2899	239	12	or	or	CCONJ
cblr-2899	239	13	de	de	VERB
cblr-2899	239	14	-	-	VERB
cblr-2899	239	15	register	register	VERB
cblr-2899	239	16	a	a	DET
cblr-2899	239	17	cra	cra	PROPN
cblr-2899	239	18	if	if	SCONJ
cblr-2899	239	19	it	it	PRON
cblr-2899	239	20	finds	find	VERB
cblr-2899	239	21	that	that	SCONJ
cblr-2899	239	22	the	the	DET
cblr-2899	239	23	cra	cra	PROPN
cblr-2899	239	24	does	do	AUX
cblr-2899	239	25	not	not	PART
cblr-2899	239	26	have	have	VERB
cblr-2899	239	27	the	the	DET
cblr-2899	239	28	ability	ability	NOUN
cblr-2899	239	29	to	to	PART
cblr-2899	239	30	produce	produce	VERB
cblr-2899	239	31	ratings	rating	NOUN
cblr-2899	239	32	with	with	ADP
cblr-2899	239	33	integrity.64	integrity.64	PROPN
cblr-2899	239	34	2	2	NUM
cblr-2899	239	35	)	)	PUNCT
cblr-2899	239	36	a	a	DET
cblr-2899	239	37	private	private	ADJ
cblr-2899	239	38	right	right	NOUN
cblr-2899	239	39	of	of	ADP
cblr-2899	239	40	action	action	NOUN
cblr-2899	239	41	against	against	ADP
cblr-2899	239	42	credit	credit	NOUN
cblr-2899	239	43	rating	rating	NOUN
cblr-2899	239	44	agencies	agency	NOUN
cblr-2899	239	45	.	.	PUNCT
cblr-2899	240	1	this	this	DET
cblr-2899	240	2	claim	claim	NOUN
cblr-2899	240	3	is	be	AUX
cblr-2899	240	4	for	for	ADP
cblr-2899	240	5	knowing	knowing	ADJ
cblr-2899	240	6	or	or	CCONJ
cblr-2899	240	7	reckless	reckless	ADJ
cblr-2899	240	8	failure	failure	NOUN
cblr-2899	240	9	to	to	PART
cblr-2899	240	10	investigate	investigate	VERB
cblr-2899	240	11	the	the	DET
cblr-2899	240	12	facts	fact	NOUN
cblr-2899	240	13	relied	rely	VERB
cblr-2899	240	14	upon	upon	SCONJ
cblr-2899	240	15	to	to	PART
cblr-2899	240	16	make	make	VERB
cblr-2899	240	17	the	the	DET
cblr-2899	240	18	rating.65	rating.65	NOUN
cblr-2899	240	19	60	60	NUM
cblr-2899	240	20	15	15	NUM
cblr-2899	240	21	u.s.c	u.s.c	NOUN
cblr-2899	240	22	.	.	PUNCT
cblr-2899	241	1	§	§	PROPN
cblr-2899	241	2	78o-7(c)(2	78o-7(c)(2	NOUN
cblr-2899	241	3	)	)	PUNCT
cblr-2899	241	4	(	(	PUNCT
cblr-2899	241	5	2010	2010	NUM
cblr-2899	241	6	)	)	PUNCT
cblr-2899	241	7	.	.	PUNCT
cblr-2899	242	1	61	61	NUM
cblr-2899	242	2	so	so	ADV
cblr-2899	242	3	far	far	ADV
cblr-2899	242	4	the	the	DET
cblr-2899	242	5	sec	sec	PROPN
cblr-2899	242	6	has	have	AUX
cblr-2899	242	7	adopted	adopt	VERB
cblr-2899	242	8	three	three	NUM
cblr-2899	242	9	of	of	ADP
cblr-2899	242	10	nine	nine	NUM
cblr-2899	242	11	rulemaking	rulemaking	ADJ
cblr-2899	242	12	requirements	requirement	NOUN
cblr-2899	242	13	,	,	PUNCT
cblr-2899	242	14	which	which	PRON
cblr-2899	242	15	implement	implement	VERB
cblr-2899	242	16	all	all	PRON
cblr-2899	242	17	or	or	CCONJ
cblr-2899	242	18	part	part	NOUN
cblr-2899	242	19	of	of	ADP
cblr-2899	242	20	certain	certain	ADJ
cblr-2899	242	21	requirements	requirement	NOUN
cblr-2899	242	22	and	and	CCONJ
cblr-2899	242	23	proposed	propose	VERB
cblr-2899	242	24	rules	rule	NOUN
cblr-2899	242	25	for	for	ADP
cblr-2899	242	26	the	the	DET
cblr-2899	242	27	remaining	remain	VERB
cblr-2899	242	28	requirements	requirement	NOUN
cblr-2899	242	29	.	.	PUNCT
cblr-2899	243	1	additionally	additionally	ADV
cblr-2899	243	2	,	,	PUNCT
cblr-2899	243	3	the	the	DET
cblr-2899	243	4	sec	sec	PROPN
cblr-2899	243	5	examination	examination	NOUN
cblr-2899	243	6	staff	staff	NOUN
cblr-2899	243	7	submitted	submit	VERB
cblr-2899	243	8	,	,	PUNCT
cblr-2899	243	9	in	in	ADP
cblr-2899	243	10	september	september	PROPN
cblr-2899	243	11	of	of	ADP
cblr-2899	243	12	2011	2011	NUM
cblr-2899	243	13	,	,	PUNCT
cblr-2899	243	14	the	the	DET
cblr-2899	243	15	first	first	ADJ
cblr-2899	243	16	cycle	cycle	NOUN
cblr-2899	243	17	of	of	ADP
cblr-2899	243	18	annual	annual	ADJ
cblr-2899	243	19	examinations	examination	NOUN
cblr-2899	243	20	of	of	ADP
cblr-2899	243	21	each	each	DET
cblr-2899	243	22	nrsro	nrsro	NOUN
cblr-2899	243	23	as	as	SCONJ
cblr-2899	243	24	required	require	VERB
cblr-2899	243	25	by	by	ADP
cblr-2899	243	26	dodd	dodd	PROPN
cblr-2899	243	27	-	-	PUNCT
cblr-2899	243	28	frank	frank	PROPN
cblr-2899	243	29	.	.	PUNCT
cblr-2899	244	1	see	see	VERB
cblr-2899	244	2	highlights	highlight	NOUN
cblr-2899	244	3	,	,	PUNCT
cblr-2899	244	4	gao	gao	PROPN
cblr-2899	244	5	report	report	PROPN
cblr-2899	244	6	,	,	PUNCT
cblr-2899	244	7	supra	supra	PROPN
cblr-2899	244	8	note	note	NOUN
cblr-2899	244	9	9	9	NUM
cblr-2899	244	10	,	,	PUNCT
cblr-2899	244	11	at	at	ADP
cblr-2899	244	12	8	8	NUM
cblr-2899	244	13	.	.	NOUN
cblr-2899	244	14	62	62	NUM
cblr-2899	244	15	dodd	dodd	PROPN
cblr-2899	244	16	-	-	PUNCT
cblr-2899	244	17	frank	frank	PROPN
cblr-2899	244	18	wall	wall	PROPN
cblr-2899	244	19	street	street	PROPN
cblr-2899	244	20	reform	reform	PROPN
cblr-2899	244	21	and	and	CCONJ
cblr-2899	244	22	consumer	consumer	NOUN
cblr-2899	244	23	protection	protection	PROPN
cblr-2899	244	24	act	act	NOUN
cblr-2899	244	25	§	§	PROPN
cblr-2899	244	26	932	932	NUM
cblr-2899	244	27	,	,	PUNCT
cblr-2899	244	28	pub	pub	NOUN
cblr-2899	244	29	.	.	PUNCT
cblr-2899	245	1	l.	l.	PROPN
cblr-2899	245	2	no	no	INTJ
cblr-2899	245	3	.	.	PROPN
cblr-2899	245	4	111	111	NUM
cblr-2899	245	5	-	-	SYM
cblr-2899	245	6	203	203	NUM
cblr-2899	245	7	,	,	PUNCT
cblr-2899	245	8	124	124	NUM
cblr-2899	245	9	stat	stat	NOUN
cblr-2899	245	10	.	.	PUNCT
cblr-2899	246	1	1376	1376	NUM
cblr-2899	246	2	(	(	PUNCT
cblr-2899	246	3	2010	2010	NUM
cblr-2899	246	4	)	)	PUNCT
cblr-2899	246	5	.	.	PUNCT
cblr-2899	247	1	63	63	NUM
cblr-2899	248	1	i	i	PRON
cblr-2899	248	2	d.	d.	PROPN
cblr-2899	248	3	64	64	NUM
cblr-2899	249	1	i	i	PRON
cblr-2899	249	2	d.	d.	PROPN
cblr-2899	249	3	65	65	NUM
cblr-2899	249	4	the	the	DET
cblr-2899	249	5	exact	exact	ADJ
cblr-2899	249	6	wording	wording	NOUN
cblr-2899	249	7	of	of	ADP
cblr-2899	249	8	the	the	DET
cblr-2899	249	9	statute	statute	NOUN
cblr-2899	249	10	is	be	AUX
cblr-2899	249	11	as	as	SCONJ
cblr-2899	249	12	follows	follow	VERB
cblr-2899	249	13	:	:	PUNCT
cblr-2899	249	14	in	in	ADP
cblr-2899	249	15	the	the	DET
cblr-2899	249	16	case	case	NOUN
cblr-2899	249	17	of	of	ADP
cblr-2899	249	18	an	an	DET
cblr-2899	249	19	action	action	NOUN
cblr-2899	249	20	for	for	ADP
cblr-2899	249	21	money	money	NOUN
cblr-2899	249	22	damages	damage	NOUN
cblr-2899	249	23	brought	bring	VERB
cblr-2899	249	24	against	against	ADP
cblr-2899	249	25	a	a	DET
cblr-2899	249	26	credit	credit	NOUN
cblr-2899	249	27	rating	rating	NOUN
cblr-2899	249	28	agency	agency	NOUN
cblr-2899	249	29	or	or	CCONJ
cblr-2899	249	30	a	a	DET
cblr-2899	249	31	controlling	control	VERB
cblr-2899	249	32	person	person	NOUN
cblr-2899	249	33	under	under	ADP
cblr-2899	249	34	this	this	DET
cblr-2899	249	35	title	title	NOUN
cblr-2899	249	36	,	,	PUNCT
cblr-2899	249	37	it	it	PRON
cblr-2899	249	38	shall	shall	AUX
cblr-2899	249	39	be	be	AUX
cblr-2899	249	40	sufficient	sufficient	ADJ
cblr-2899	249	41	,	,	PUNCT
cblr-2899	249	42	for	for	ADP
cblr-2899	249	43	purposes	purpose	NOUN
cblr-2899	249	44	of	of	ADP
cblr-2899	249	45	pleading	plead	VERB
cblr-2899	249	46	any	any	DET
cblr-2899	249	47	required	required	ADJ
cblr-2899	249	48	state	state	NOUN
cblr-2899	249	49	of	of	ADP
cblr-2899	249	50	mind	mind	NOUN
cblr-2899	249	51	in	in	ADP
cblr-2899	249	52	relation	relation	NOUN
cblr-2899	249	53	to	to	ADP
cblr-2899	249	54	such	such	ADJ
cblr-2899	249	55	action	action	NOUN
cblr-2899	249	56	,	,	PUNCT
cblr-2899	249	57	that	that	SCONJ
cblr-2899	249	58	the	the	DET
cblr-2899	249	59	complaint	complaint	NOUN
cblr-2899	249	60	state	state	NOUN
cblr-2899	249	61	with	with	ADP
cblr-2899	249	62	particularity	particularity	NOUN
cblr-2899	249	63	facts	fact	VERB
cblr-2899	249	64	giving	give	VERB
cblr-2899	249	65	rise	rise	NOUN
cblr-2899	249	66	to	to	ADP
cblr-2899	249	67	a	a	DET
cblr-2899	249	68	strong	strong	ADJ
cblr-2899	249	69	inference	inference	NOUN
cblr-2899	249	70	that	that	PRON
cblr-2899	249	71	the	the	DET
cblr-2899	249	72	credit	credit	NOUN
cblr-2899	249	73	rating	rating	NOUN
cblr-2899	249	74	agency	agency	NOUN
cblr-2899	249	75	knowingly	knowingly	ADV
cblr-2899	249	76	or	or	CCONJ
cblr-2899	249	77	recklessly	recklessly	ADV
cblr-2899	249	78	failed(i	failed(i	PROPN
cblr-2899	249	79	)	)	PUNCT
cblr-2899	249	80	to	to	PART
cblr-2899	249	81	conduct	conduct	VERB
cblr-2899	249	82	a	a	DET
cblr-2899	249	83	reasonable	reasonable	ADJ
cblr-2899	249	84	investigation	investigation	NOUN
cblr-2899	249	85	of	of	ADP
cblr-2899	249	86	the	the	DET
cblr-2899	249	87	rated	rate	VERB
cblr-2899	249	88	security	security	NOUN
cblr-2899	249	89	with	with	ADP
cblr-2899	249	90	respect	respect	NOUN
cblr-2899	249	91	to	to	ADP
cblr-2899	249	92	the	the	DET
cblr-2899	249	93	factual	factual	ADJ
cblr-2899	249	94	elements	element	NOUN
cblr-2899	249	95	relied	rely	VERB
cblr-2899	249	96	regulating	regulate	VERB
cblr-2899	249	97	credit	credit	NOUN
cblr-2899	249	98	ra	ra	PROPN
cblr-2899	249	99	ting	ting	PROPN
cblr-2899	249	100	agencies	agency	NOUN
cblr-2899	249	101	1011no	1011no	VERB
cblr-2899	249	102	.	.	PUNCT
cblr-2899	250	1	3:994]1	3:994]1	NUM
cblr-2899	250	2	columbia	columbia	PROPN
cblr-2899	250	3	business	business	NOUN
cblr-2899	250	4	law	law	PROPN
cblr-2899	250	5	review	review	VERB
cblr-2899	250	6	3	3	NUM
cblr-2899	250	7	)	)	PUNCT
cblr-2899	250	8	a	a	DET
cblr-2899	250	9	provision	provision	NOUN
cblr-2899	250	10	that	that	PRON
cblr-2899	250	11	makes	make	VERB
cblr-2899	250	12	cras	cras	PROPN
cblr-2899	250	13	liable	liable	ADJ
cblr-2899	250	14	,	,	PUNCT
cblr-2899	250	15	in	in	ADP
cblr-2899	250	16	the	the	DET
cblr-2899	250	17	same	same	ADJ
cblr-2899	250	18	manner	manner	NOUN
cblr-2899	250	19	as	as	SCONJ
cblr-2899	250	20	accountants	accountant	NOUN
cblr-2899	250	21	are	be	AUX
cblr-2899	250	22	with	with	ADP
cblr-2899	250	23	respect	respect	NOUN
cblr-2899	250	24	to	to	ADP
cblr-2899	250	25	their	their	PRON
cblr-2899	250	26	audit	audit	NOUN
cblr-2899	250	27	reports	report	NOUN
cblr-2899	250	28	,	,	PUNCT
cblr-2899	250	29	when	when	SCONJ
cblr-2899	250	30	ratings	rating	NOUN
cblr-2899	250	31	are	be	AUX
cblr-2899	250	32	included	include	VERB
cblr-2899	250	33	in	in	ADP
cblr-2899	250	34	registration	registration	NOUN
cblr-2899	250	35	statements.66	statements.66	NOUN
cblr-2899	250	36	these	these	DET
cblr-2899	250	37	ratings	rating	NOUN
cblr-2899	250	38	can	can	AUX
cblr-2899	250	39	only	only	ADV
cblr-2899	250	40	be	be	AUX
cblr-2899	250	41	included	include	VERB
cblr-2899	250	42	with	with	ADP
cblr-2899	250	43	the	the	DET
cblr-2899	250	44	consent	consent	NOUN
cblr-2899	250	45	of	of	ADP
cblr-2899	250	46	the	the	DET
cblr-2899	250	47	preparer	preparer	NOUN
cblr-2899	250	48	.	.	PUNCT
cblr-2899	251	1	therefore	therefore	ADV
cblr-2899	251	2	,	,	PUNCT
cblr-2899	251	3	rating	rating	NOUN
cblr-2899	251	4	agencies	agency	NOUN
cblr-2899	251	5	must	must	AUX
cblr-2899	251	6	now	now	ADV
cblr-2899	251	7	consent	consent	VERB
cblr-2899	251	8	to	to	ADP
cblr-2899	251	9	public	public	ADJ
cblr-2899	251	10	references	reference	NOUN
cblr-2899	251	11	by	by	ADP
cblr-2899	251	12	others	other	NOUN
cblr-2899	251	13	to	to	ADP
cblr-2899	251	14	their	their	PRON
cblr-2899	251	15	ratings	rating	NOUN
cblr-2899	251	16	and	and	CCONJ
cblr-2899	251	17	may	may	AUX
cblr-2899	251	18	be	be	AUX
cblr-2899	251	19	subject	subject	ADJ
cblr-2899	251	20	to	to	ADP
cblr-2899	251	21	liability	liability	NOUN
cblr-2899	251	22	as	as	ADP
cblr-2899	251	23	experts	expert	NOUN
cblr-2899	251	24	if	if	SCONJ
cblr-2899	251	25	they	they	PRON
cblr-2899	251	26	do.6	do.6	VERB
cblr-2899	251	27	it	it	PRON
cblr-2899	251	28	has	have	AUX
cblr-2899	251	29	become	become	VERB
cblr-2899	251	30	industry	industry	NOUN
cblr-2899	251	31	practice	practice	NOUN
cblr-2899	251	32	and	and	CCONJ
cblr-2899	251	33	the	the	DET
cblr-2899	251	34	sec	sec	PROPN
cblr-2899	251	35	has	have	AUX
cblr-2899	251	36	even	even	ADV
cblr-2899	251	37	required	require	VERB
cblr-2899	251	38	it	it	PRON
cblr-2899	251	39	for	for	ADP
cblr-2899	251	40	publicly	publicly	ADV
cblr-2899	251	41	-	-	PUNCT
cblr-2899	251	42	registered	register	VERB
cblr-2899	251	43	asset	asset	NOUN
cblr-2899	251	44	-	-	PUNCT
cblr-2899	251	45	backed	back	VERB
cblr-2899	251	46	securities	security	NOUN
cblr-2899	251	47	to	to	PART
cblr-2899	251	48	disclose	disclose	VERB
cblr-2899	251	49	ratings	rating	NOUN
cblr-2899	251	50	information	information	NOUN
cblr-2899	251	51	relating	relate	VERB
cblr-2899	251	52	to	to	ADP
cblr-2899	251	53	most	most	ADJ
cblr-2899	251	54	debt	debt	NOUN
cblr-2899	251	55	issuances	issuance	NOUN
cblr-2899	251	56	in	in	ADP
cblr-2899	251	57	registration	registration	NOUN
cblr-2899	251	58	statements	statement	NOUN
cblr-2899	251	59	,	,	PUNCT
cblr-2899	251	60	either	either	CCONJ
cblr-2899	251	61	directly	directly	ADV
cblr-2899	251	62	or	or	CCONJ
cblr-2899	251	63	by	by	ADP
cblr-2899	251	64	incorporation	incorporation	NOUN
cblr-2899	251	65	through	through	ADP
cblr-2899	251	66	disclosure	disclosure	NOUN
cblr-2899	251	67	in	in	ADP
cblr-2899	251	68	the	the	DET
cblr-2899	251	69	issuer	issuer	NOUN
cblr-2899	251	70	's	's	PART
cblr-2899	251	71	form	form	NOUN
cblr-2899	251	72	10k	10k	NOUN
cblr-2899	251	73	or	or	CCONJ
cblr-2899	251	74	form	form	NOUN
cblr-2899	251	75	10	10	NUM
cblr-2899	251	76	-	-	PUNCT
cblr-2899	251	77	q.	q.	NOUN
cblr-2899	251	78	8	8	NUM
cblr-2899	251	79	as	as	ADP
cblr-2899	251	80	a	a	DET
cblr-2899	251	81	result	result	NOUN
cblr-2899	251	82	,	,	PUNCT
cblr-2899	251	83	when	when	SCONJ
cblr-2899	251	84	this	this	DET
cblr-2899	251	85	provision	provision	NOUN
cblr-2899	251	86	was	be	AUX
cblr-2899	251	87	passed	pass	VERB
cblr-2899	251	88	,	,	PUNCT
cblr-2899	251	89	rating	rating	NOUN
cblr-2899	251	90	agencies	agency	NOUN
cblr-2899	251	91	reacted	react	VERB
cblr-2899	251	92	by	by	ADP
cblr-2899	251	93	withholding	withhold	VERB
cblr-2899	251	94	the	the	DET
cblr-2899	251	95	necessary	necessary	ADJ
cblr-2899	251	96	consent	consent	NOUN
cblr-2899	251	97	to	to	PART
cblr-2899	251	98	include	include	VERB
cblr-2899	251	99	such	such	ADJ
cblr-2899	251	100	ratings	rating	NOUN
cblr-2899	251	101	.	.	PUNCT
cblr-2899	252	1	this	this	PRON
cblr-2899	252	2	threatened	threaten	VERB
cblr-2899	252	3	a	a	DET
cblr-2899	252	4	standstill	standstill	NOUN
cblr-2899	252	5	of	of	ADP
cblr-2899	252	6	capital	capital	NOUN
cblr-2899	252	7	markets	market	NOUN
cblr-2899	252	8	activity	activity	NOUN
cblr-2899	252	9	.	.	PUNCT
cblr-2899	253	1	the	the	DET
cblr-2899	253	2	sec	sec	PROPN
cblr-2899	253	3	had	have	VERB
cblr-2899	253	4	to	to	PART
cblr-2899	253	5	step	step	VERB
cblr-2899	253	6	in	in	ADV
cblr-2899	253	7	and	and	CCONJ
cblr-2899	253	8	make	make	VERB
cblr-2899	253	9	a	a	DET
cblr-2899	253	10	public	public	ADJ
cblr-2899	253	11	statement	statement	NOUN
cblr-2899	253	12	that	that	SCONJ
cblr-2899	253	13	it	it	PRON
cblr-2899	253	14	would	would	AUX
cblr-2899	253	15	not	not	PART
cblr-2899	253	16	take	take	VERB
cblr-2899	253	17	action	action	NOUN
cblr-2899	253	18	against	against	ADP
cblr-2899	253	19	issuers	issuer	NOUN
cblr-2899	253	20	if	if	SCONJ
cblr-2899	253	21	they	they	PRON
cblr-2899	253	22	could	could	AUX
cblr-2899	253	23	not	not	PART
cblr-2899	253	24	upon	upon	SCONJ
cblr-2899	253	25	by	by	ADP
cblr-2899	253	26	its	its	PRON
cblr-2899	253	27	own	own	ADJ
cblr-2899	253	28	methodology	methodology	NOUN
cblr-2899	253	29	for	for	ADP
cblr-2899	253	30	evaluating	evaluate	VERB
cblr-2899	253	31	credit	credit	NOUN
cblr-2899	253	32	risk	risk	NOUN
cblr-2899	253	33	;	;	PUNCT
cblr-2899	253	34	or	or	CCONJ
cblr-2899	253	35	(	(	PUNCT
cblr-2899	253	36	ii	ii	NOUN
cblr-2899	253	37	)	)	PUNCT
cblr-2899	253	38	to	to	PART
cblr-2899	253	39	obtain	obtain	VERB
cblr-2899	253	40	reasonable	reasonable	ADJ
cblr-2899	253	41	verification	verification	NOUN
cblr-2899	253	42	of	of	ADP
cblr-2899	253	43	such	such	ADJ
cblr-2899	253	44	factual	factual	ADJ
cblr-2899	253	45	elements	element	NOUN
cblr-2899	253	46	(	(	PUNCT
cblr-2899	253	47	which	which	DET
cblr-2899	253	48	verification	verification	NOUN
cblr-2899	253	49	may	may	AUX
cblr-2899	253	50	be	be	AUX
cblr-2899	253	51	based	base	VERB
cblr-2899	253	52	on	on	ADP
cblr-2899	253	53	a	a	DET
cblr-2899	253	54	sampling	sampling	NOUN
cblr-2899	253	55	technique	technique	NOUN
cblr-2899	253	56	that	that	PRON
cblr-2899	253	57	does	do	AUX
cblr-2899	253	58	not	not	PART
cblr-2899	253	59	amount	amount	VERB
cblr-2899	253	60	to	to	ADP
cblr-2899	253	61	an	an	DET
cblr-2899	253	62	audit	audit	NOUN
cblr-2899	253	63	)	)	PUNCT
cblr-2899	253	64	from	from	ADP
cblr-2899	253	65	other	other	ADJ
cblr-2899	253	66	sources	source	NOUN
cblr-2899	253	67	that	that	SCONJ
cblr-2899	253	68	the	the	DET
cblr-2899	253	69	credit	credit	NOUN
cblr-2899	253	70	rating	rating	NOUN
cblr-2899	253	71	agency	agency	NOUN
cblr-2899	253	72	considered	consider	VERB
cblr-2899	253	73	to	to	PART
cblr-2899	253	74	be	be	AUX
cblr-2899	253	75	competent	competent	ADJ
cblr-2899	253	76	and	and	CCONJ
cblr-2899	253	77	that	that	PRON
cblr-2899	253	78	were	be	AUX
cblr-2899	253	79	independent	independent	ADJ
cblr-2899	253	80	of	of	ADP
cblr-2899	253	81	the	the	DET
cblr-2899	253	82	issuer	issuer	NOUN
cblr-2899	253	83	and	and	CCONJ
cblr-2899	253	84	underwriter	underwriter	NOUN
cblr-2899	253	85	.	.	PUNCT
cblr-2899	254	1	dodd	dodd	PROPN
cblr-2899	254	2	-	-	PUNCT
cblr-2899	254	3	frank	frank	PROPN
cblr-2899	254	4	act	act	PROPN
cblr-2899	254	5	§	§	PROPN
cblr-2899	254	6	933(b	933(b	PROPN
cblr-2899	254	7	)	)	PUNCT
cblr-2899	254	8	.	.	PUNCT
cblr-2899	255	1	66	66	NUM
cblr-2899	255	2	liability	liability	NOUN
cblr-2899	255	3	of	of	ADP
cblr-2899	255	4	accountants	accountant	NOUN
cblr-2899	255	5	for	for	ADP
cblr-2899	255	6	parts	part	NOUN
cblr-2899	255	7	of	of	ADP
cblr-2899	255	8	registration	registration	NOUN
cblr-2899	255	9	statements	statement	NOUN
cblr-2899	255	10	that	that	PRON
cblr-2899	255	11	they	they	PRON
cblr-2899	255	12	prepare	prepare	VERB
cblr-2899	255	13	or	or	CCONJ
cblr-2899	255	14	certify	certify	NOUN
cblr-2899	255	15	is	be	AUX
cblr-2899	255	16	governed	govern	VERB
cblr-2899	255	17	by	by	ADP
cblr-2899	255	18	§	§	PROPN
cblr-2899	255	19	11(a)(4	11(a)(4	NUM
cblr-2899	255	20	)	)	PUNCT
cblr-2899	255	21	of	of	ADP
cblr-2899	255	22	the	the	DET
cblr-2899	255	23	securities	security	NOUN
cblr-2899	255	24	act	act	NOUN
cblr-2899	255	25	of	of	ADP
cblr-2899	255	26	1933	1933	NUM
cblr-2899	255	27	.	.	PUNCT
cblr-2899	256	1	see	see	VERB
cblr-2899	256	2	15	15	NUM
cblr-2899	256	3	u.s.c	u.s.c	ADJ
cblr-2899	256	4	.	.	PUNCT
cblr-2899	257	1	§	§	PROPN
cblr-2899	257	2	77k(a)(4	77k(a)(4	NUM
cblr-2899	257	3	)	)	PUNCT
cblr-2899	257	4	(	(	PUNCT
cblr-2899	257	5	1933	1933	NUM
cblr-2899	257	6	)	)	PUNCT
cblr-2899	257	7	.	.	PUNCT
cblr-2899	258	1	67	67	NUM
cblr-2899	258	2	see	see	VERB
cblr-2899	258	3	dodd	dodd	PROPN
cblr-2899	258	4	-	-	PUNCT
cblr-2899	258	5	frank	frank	PROPN
cblr-2899	258	6	act	act	PROPN
cblr-2899	258	7	§	§	PROPN
cblr-2899	258	8	933(a	933(a	PROPN
cblr-2899	258	9	)	)	PUNCT
cblr-2899	258	10	;	;	PUNCT
cblr-2899	258	11	see	see	VERB
cblr-2899	258	12	also	also	ADV
cblr-2899	258	13	ifr	ifr	NOUN
cblr-2899	258	14	-	-	PUNCT
cblr-2899	258	15	abs	ab	NOUN
cblr-2899	258	16	:	:	PUNCT
cblr-2899	258	17	bill	bill	NOUN
cblr-2899	258	18	reversing	reverse	VERB
cblr-2899	258	19	rating	rating	NOUN
cblr-2899	258	20	agency	agency	NOUN
cblr-2899	258	21	liability	liability	NOUN
cblr-2899	258	22	advances	advance	NOUN
cblr-2899	258	23	,	,	PUNCT
cblr-2899	258	24	reuters	reuter	NOUN
cblr-2899	258	25	,	,	PUNCT
cblr-2899	258	26	july	july	PROPN
cblr-2899	258	27	20	20	NUM
cblr-2899	258	28	,	,	PUNCT
cblr-2899	258	29	2011	2011	NUM
cblr-2899	258	30	,	,	PUNCT
cblr-2899	258	31	available	available	ADJ
cblr-2899	258	32	at	at	ADP
cblr-2899	258	33	http://www.reuters.com/article/2011/07/20/abs-ratingagencies-idusn1e76	http://www.reuters.com/article/2011/07/20/abs-ratingagencies-idusn1e76	ADJ
cblr-2899	258	34	j17u20110720	j17u20110720	NOUN
cblr-2899	258	35	.	.	PROPN
cblr-2899	258	36	68	68	NUM
cblr-2899	258	37	erika	erika	PROPN
cblr-2899	258	38	weinberg	weinberg	PROPN
cblr-2899	258	39	,	,	PUNCT
cblr-2899	258	40	dodd	dodd	PROPN
cblr-2899	258	41	-	-	PUNCT
cblr-2899	258	42	frank	frank	PROPN
cblr-2899	258	43	reform	reform	PROPN
cblr-2899	258	44	act	act	PROPN
cblr-2899	258	45	:	:	PUNCT
cblr-2899	258	46	elimination	elimination	NOUN
cblr-2899	258	47	of	of	ADP
cblr-2899	258	48	rating	rating	NOUN
cblr-2899	258	49	agencies	agency	NOUN
cblr-2899	258	50	protections	protection	NOUN
cblr-2899	258	51	and	and	CCONJ
cblr-2899	258	52	implications	implication	NOUN
cblr-2899	258	53	for	for	ADP
cblr-2899	258	54	bond	bond	NOUN
cblr-2899	258	55	issuers	issuer	NOUN
cblr-2899	258	56	,	,	PUNCT
cblr-2899	258	57	financial	financial	ADJ
cblr-2899	258	58	regulatory	regulatory	ADJ
cblr-2899	258	59	reform	reform	NOUN
cblr-2899	258	60	center	center	NOUN
cblr-2899	258	61	,	,	PUNCT
cblr-2899	258	62	weil	weil	NOUN
cblr-2899	258	63	,	,	PUNCT
cblr-2899	258	64	gotshal	gotshal	NOUN
cblr-2899	258	65	&	&	CCONJ
cblr-2899	258	66	manges	manges	PROPN
cblr-2899	258	67	llp	llp	PROPN
cblr-2899	258	68	http://financial-reform.weil.com/asset-backed-securities/doddfrank-reformact-elimination-rating-agencies-protections-implications-bond-issuers	http://financial-reform.weil.com/asset-backed-securities/doddfrank-reformact-elimination-rating-agencies-protections-implications-bond-issuer	NOUN
cblr-2899	258	69	(	(	PUNCT
cblr-2899	258	70	last	last	ADV
cblr-2899	258	71	visited	visit	VERB
cblr-2899	258	72	dec	dec	PROPN
cblr-2899	258	73	.	.	PROPN
cblr-2899	258	74	19	19	NUM
cblr-2899	258	75	,	,	PUNCT
cblr-2899	258	76	2012	2012	NUM
cblr-2899	258	77	)	)	PUNCT
cblr-2899	258	78	.	.	PUNCT
cblr-2899	259	1	1012	1012	NUM
cblr-2899	260	1	[	[	X
cblr-2899	260	2	vol	vol	NOUN
cblr-2899	260	3	.	.	NOUN
cblr-2899	260	4	2012	2012	NUM
cblr-2899	260	5	regula	regula	NOUN
cblr-2899	260	6	ting	te	VERB
cblr-2899	260	7	credit	credit	NOUN
cblr-2899	260	8	rating	rating	NOUN
cblr-2899	260	9	agencies	agency	NOUN
cblr-2899	260	10	disclose	disclose	VERB
cblr-2899	260	11	ratings	rating	NOUN
cblr-2899	260	12	or	or	CCONJ
cblr-2899	260	13	identify	identify	VERB
cblr-2899	260	14	rating	rating	NOUN
cblr-2899	260	15	agencies	agency	NOUN
cblr-2899	260	16	due	due	ADP
cblr-2899	260	17	to	to	ADP
cblr-2899	260	18	the	the	DET
cblr-2899	260	19	cras	cras	PROPN
cblr-2899	260	20	refusal	refusal	NOUN
cblr-2899	260	21	to	to	PART
cblr-2899	260	22	consent	consent	VERB
cblr-2899	260	23	to	to	ADP
cblr-2899	260	24	the	the	DET
cblr-2899	260	25	use	use	NOUN
cblr-2899	260	26	of	of	ADP
cblr-2899	260	27	their	their	PRON
cblr-2899	260	28	ratings.6	ratings.6	PROPN
cblr-2899	260	29	1	1	NUM
cblr-2899	260	30	4	4	NUM
cblr-2899	260	31	)	)	PUNCT
cblr-2899	260	32	a	a	DET
cblr-2899	260	33	requirement	requirement	NOUN
cblr-2899	260	34	to	to	PART
cblr-2899	260	35	consider	consider	VERB
cblr-2899	260	36	information	information	NOUN
cblr-2899	260	37	other	other	ADJ
cblr-2899	260	38	than	than	ADP
cblr-2899	260	39	information	information	NOUN
cblr-2899	260	40	provided	provide	VERB
cblr-2899	260	41	by	by	ADP
cblr-2899	260	42	the	the	DET
cblr-2899	260	43	issuer	issuer	NOUN
cblr-2899	260	44	of	of	ADP
cblr-2899	260	45	the	the	DET
cblr-2899	260	46	security	security	NOUN
cblr-2899	260	47	when	when	SCONJ
cblr-2899	260	48	rating	rate	VERB
cblr-2899	260	49	a	a	DET
cblr-2899	260	50	security	security	NOUN
cblr-2899	260	51	.	.	PUNCT
cblr-2899	261	1	this	this	DET
cblr-2899	261	2	requirement	requirement	NOUN
cblr-2899	261	3	becomes	become	VERB
cblr-2899	261	4	relevant	relevant	ADJ
cblr-2899	261	5	if	if	SCONJ
cblr-2899	261	6	the	the	DET
cblr-2899	261	7	cra	cra	PROPN
cblr-2899	261	8	finds	find	VERB
cblr-2899	261	9	the	the	DET
cblr-2899	261	10	information	information	NOUN
cblr-2899	261	11	credible	credible	ADJ
cblr-2899	261	12	and	and	CCONJ
cblr-2899	261	13	potentially	potentially	ADV
cblr-2899	261	14	significant	significant	ADJ
cblr-2899	261	15	to	to	ADP
cblr-2899	261	16	a	a	DET
cblr-2899	261	17	rating	rating	NOUN
cblr-2899	261	18	decision	decision	NOUN
cblr-2899	261	19	.	.	PUNCT
cblr-2899	262	1	5	5	NUM
cblr-2899	262	2	)	)	PUNCT
cblr-2899	262	3	a	a	DET
cblr-2899	262	4	provision	provision	NOUN
cblr-2899	262	5	advocating	advocate	VERB
cblr-2899	262	6	universal	universal	ADJ
cblr-2899	262	7	rating	rating	NOUN
cblr-2899	262	8	symbols	symbol	NOUN
cblr-2899	262	9	.	.	PUNCT
cblr-2899	263	1	the	the	DET
cblr-2899	263	2	sec	sec	PROPN
cblr-2899	263	3	will	will	AUX
cblr-2899	263	4	issue	issue	VERB
cblr-2899	263	5	rules	rule	NOUN
cblr-2899	263	6	requiring	require	VERB
cblr-2899	263	7	nrsros	nrsro	NOUN
cblr-2899	263	8	to	to	PART
cblr-2899	263	9	establish	establish	VERB
cblr-2899	263	10	,	,	PUNCT
cblr-2899	263	11	maintain	maintain	VERB
cblr-2899	263	12	and	and	CCONJ
cblr-2899	263	13	enforce	enforce	VERB
cblr-2899	263	14	policies	policy	NOUN
cblr-2899	263	15	and	and	CCONJ
cblr-2899	263	16	procedures	procedure	NOUN
cblr-2899	263	17	that	that	PRON
cblr-2899	263	18	assess	assess	VERB
cblr-2899	263	19	the	the	DET
cblr-2899	263	20	probability	probability	NOUN
cblr-2899	263	21	of	of	ADP
cblr-2899	263	22	default	default	NOUN
cblr-2899	263	23	by	by	ADP
cblr-2899	263	24	assigning	assign	VERB
cblr-2899	263	25	clearly	clearly	ADV
cblr-2899	263	26	defined	define	VERB
cblr-2899	263	27	ratings	rating	NOUN
cblr-2899	263	28	symbols	symbol	NOUN
cblr-2899	263	29	in	in	ADP
cblr-2899	263	30	a	a	DET
cblr-2899	263	31	consistent	consistent	ADJ
cblr-2899	263	32	manner	manner	NOUN
cblr-2899	263	33	for	for	ADP
cblr-2899	263	34	all	all	DET
cblr-2899	263	35	types	type	NOUN
cblr-2899	263	36	of	of	ADP
cblr-2899	263	37	securities	security	NOUN
cblr-2899	263	38	.	.	PUNCT
cblr-2899	264	1	6	6	NUM
cblr-2899	264	2	)	)	PUNCT
cblr-2899	264	3	the	the	DET
cblr-2899	264	4	removal	removal	NOUN
cblr-2899	264	5	of	of	ADP
cblr-2899	264	6	references	reference	NOUN
cblr-2899	264	7	to	to	ADP
cblr-2899	264	8	credit	credit	NOUN
cblr-2899	264	9	ratings	rating	NOUN
cblr-2899	264	10	in	in	ADP
cblr-2899	264	11	federal	federal	ADJ
cblr-2899	264	12	statutes	statute	NOUN
cblr-2899	264	13	.	.	PUNCT
cblr-2899	265	1	the	the	DET
cblr-2899	265	2	goal	goal	NOUN
cblr-2899	265	3	is	be	AUX
cblr-2899	265	4	to	to	PART
cblr-2899	265	5	help	help	VERB
cblr-2899	265	6	reduce	reduce	VERB
cblr-2899	265	7	the	the	DET
cblr-2899	265	8	dependence	dependence	NOUN
cblr-2899	265	9	of	of	ADP
cblr-2899	265	10	government	government	NOUN
cblr-2899	265	11	and	and	CCONJ
cblr-2899	265	12	markets	market	NOUN
cblr-2899	265	13	on	on	ADP
cblr-2899	265	14	credit	credit	NOUN
cblr-2899	265	15	ratings.72	ratings.72	NOUN
cblr-2899	265	16	7	7	NUM
cblr-2899	265	17	)	)	PUNCT
cblr-2899	265	18	a	a	DET
cblr-2899	265	19	proposal	proposal	NOUN
cblr-2899	265	20	for	for	ADP
cblr-2899	265	21	regulating	regulate	VERB
cblr-2899	265	22	conflict	conflict	NOUN
cblr-2899	265	23	of	of	ADP
cblr-2899	265	24	interest	interest	NOUN
cblr-2899	265	25	issues	issue	NOUN
cblr-2899	265	26	.	.	PUNCT
cblr-2899	266	1	this	this	DET
cblr-2899	266	2	provision	provision	NOUN
cblr-2899	266	3	requires	require	VERB
cblr-2899	266	4	the	the	DET
cblr-2899	266	5	sec	sec	PROPN
cblr-2899	266	6	to	to	PART
cblr-2899	266	7	conduct	conduct	VERB
cblr-2899	266	8	a	a	DET
cblr-2899	266	9	study	study	NOUN
cblr-2899	266	10	,	,	PUNCT
cblr-2899	266	11	due	due	ADJ
cblr-2899	266	12	two	two	NUM
cblr-2899	266	13	years	year	NOUN
cblr-2899	266	14	after	after	ADP
cblr-2899	266	15	dodd	dodd	PROPN
cblr-2899	266	16	-	-	PUNCT
cblr-2899	266	17	frank	frank	PROPN
cblr-2899	266	18	's	's	PART
cblr-2899	266	19	passage	passage	NOUN
cblr-2899	266	20	,	,	PUNCT
cblr-2899	266	21	regarding	regard	VERB
cblr-2899	266	22	the	the	DET
cblr-2899	266	23	credit	credit	NOUN
cblr-2899	266	24	rating	rating	NOUN
cblr-2899	266	25	process	process	NOUN
cblr-2899	266	26	for	for	ADP
cblr-2899	266	27	structured	structured	ADJ
cblr-2899	266	28	finance	finance	NOUN
cblr-2899	266	29	products	product	NOUN
cblr-2899	266	30	and	and	CCONJ
cblr-2899	266	31	the	the	DET
cblr-2899	266	32	conflicts	conflict	NOUN
cblr-2899	266	33	of	of	ADP
cblr-2899	266	34	interest	interest	NOUN
cblr-2899	266	35	associated	associate	VERB
cblr-2899	266	36	with	with	ADP
cblr-2899	266	37	the	the	DET
cblr-2899	266	38	compensation	compensation	NOUN
cblr-2899	266	39	of	of	ADP
cblr-2899	266	40	rating	rating	NOUN
cblr-2899	266	41	agencies	agency	NOUN
cblr-2899	266	42	.	.	PUNCT
cblr-2899	267	1	furthermore	furthermore	ADV
cblr-2899	267	2	,	,	PUNCT
cblr-2899	267	3	the	the	DET
cblr-2899	267	4	sec	sec	PROPN
cblr-2899	267	5	is	be	AUX
cblr-2899	267	6	to	to	PART
cblr-2899	267	7	evaluate	evaluate	VERB
cblr-2899	267	8	the	the	DET
cblr-2899	267	9	feasibility	feasibility	NOUN
cblr-2899	267	10	of	of	ADP
cblr-2899	267	11	establishing	establish	VERB
cblr-2899	267	12	a	a	DET
cblr-2899	267	13	system	system	NOUN
cblr-2899	267	14	where	where	SCONJ
cblr-2899	267	15	an	an	DET
cblr-2899	267	16	independent	independent	ADJ
cblr-2899	267	17	utility	utility	NOUN
cblr-2899	267	18	would	would	AUX
cblr-2899	267	19	assign	assign	VERB
cblr-2899	267	20	nrsros	nrsros	PROPN
cblr-2899	267	21	to	to	PART
cblr-2899	267	22	rate	rate	VERB
cblr-2899	267	23	structured	structured	ADJ
cblr-2899	267	24	finance	finance	NOUN
cblr-2899	267	25	products	product	NOUN
cblr-2899	267	26	(	(	PUNCT
cblr-2899	267	27	the	the	DET
cblr-2899	267	28	franken	franken	PROPN
cblr-2899	267	29	proposal).7	proposal).7	PROPN
cblr-2899	267	30	3	3	NUM
cblr-2899	267	31	although	although	SCONJ
cblr-2899	267	32	the	the	DET
cblr-2899	267	33	study	study	NOUN
cblr-2899	267	34	was	be	AUX
cblr-2899	267	35	due	due	ADJ
cblr-2899	267	36	on	on	ADP
cblr-2899	267	37	july	july	PROPN
cblr-2899	267	38	21	21	NUM
cblr-2899	267	39	,	,	PUNCT
cblr-2899	267	40	2012	2012	NUM
cblr-2899	267	41	,	,	PUNCT
cblr-2899	267	42	the	the	DET
cblr-2899	267	43	sec	sec	PROPN
cblr-2899	267	44	did	do	AUX
cblr-2899	267	45	not	not	PART
cblr-2899	267	46	release	release	VERB
cblr-2899	267	47	the	the	DET
cblr-2899	267	48	study	study	NOUN
cblr-2899	267	49	as	as	SCONJ
cblr-2899	267	50	required	require	VERB
cblr-2899	267	51	by	by	ADP
cblr-2899	267	52	section	section	NOUN
cblr-2899	267	53	939f	939f	PROPN
cblr-2899	267	54	of	of	ADP
cblr-2899	267	55	dodd	dodd	PROPN
cblr-2899	267	56	-	-	PUNCT
cblr-2899	267	57	frank.74	frank.74	PROPN
cblr-2899	267	58	there	there	PRON
cblr-2899	267	59	are	be	VERB
cblr-2899	267	60	"	"	PUNCT
cblr-2899	267	61	no	no	DET
cblr-2899	267	62	consequences	consequence	NOUN
cblr-2899	267	63	if	if	SCONJ
cblr-2899	267	64	a	a	DET
cblr-2899	267	65	regulatory	regulatory	ADJ
cblr-2899	267	66	agency	agency	NOUN
cblr-2899	267	67	does	do	VERB
cblr-2899	267	68	69	69	NUM
cblr-2899	267	69	edward	edward	PROPN
cblr-2899	267	70	f.	f.	PROPN
cblr-2899	267	71	greene	greene	PROPN
cblr-2899	267	72	,	,	PUNCT
cblr-2899	267	73	dodd	dodd	PROPN
cblr-2899	267	74	-	-	PUNCT
cblr-2899	267	75	frank	frank	PROPN
cblr-2899	267	76	:	:	PUNCT
cblr-2899	267	77	a	a	DET
cblr-2899	267	78	lesson	lesson	NOUN
cblr-2899	267	79	in	in	ADP
cblr-2899	267	80	decision	decision	NOUN
cblr-2899	267	81	avoidance	avoidance	NOUN
cblr-2899	267	82	,	,	PUNCT
cblr-2899	267	83	6	6	NUM
cblr-2899	267	84	cap	cap	NOUN
cblr-2899	267	85	.	.	PUNCT
cblr-2899	268	1	mkts	mkts	NOUN
cblr-2899	268	2	.	.	PUNCT
cblr-2899	269	1	l.j	l.j	PROPN
cblr-2899	269	2	.	.	PROPN
cblr-2899	269	3	29	29	NUM
cblr-2899	269	4	,	,	PUNCT
cblr-2899	269	5	59	59	NUM
cblr-2899	269	6	(	(	PUNCT
cblr-2899	269	7	2010	2010	NUM
cblr-2899	269	8	)	)	PUNCT
cblr-2899	269	9	.	.	PUNCT
cblr-2899	270	1	70	70	NUM
cblr-2899	270	2	dodd	dodd	PROPN
cblr-2899	270	3	-	-	PUNCT
cblr-2899	270	4	frank	frank	PROPN
cblr-2899	270	5	wall	wall	PROPN
cblr-2899	270	6	street	street	PROPN
cblr-2899	270	7	reform	reform	PROPN
cblr-2899	270	8	and	and	CCONJ
cblr-2899	270	9	consumer	consumer	NOUN
cblr-2899	270	10	protection	protection	PROPN
cblr-2899	270	11	act	act	NOUN
cblr-2899	270	12	§	§	PROPN
cblr-2899	270	13	935	935	NUM
cblr-2899	270	14	,	,	PUNCT
cblr-2899	270	15	pub	pub	NOUN
cblr-2899	270	16	.	.	PUNCT
cblr-2899	271	1	l.	l.	PROPN
cblr-2899	271	2	no	no	INTJ
cblr-2899	271	3	.	.	PROPN
cblr-2899	271	4	111	111	NUM
cblr-2899	271	5	-	-	SYM
cblr-2899	271	6	203	203	NUM
cblr-2899	271	7	,	,	PUNCT
cblr-2899	271	8	124	124	NUM
cblr-2899	271	9	stat	stat	NOUN
cblr-2899	271	10	.	.	PUNCT
cblr-2899	272	1	1376	1376	NUM
cblr-2899	272	2	(	(	PUNCT
cblr-2899	272	3	2010	2010	NUM
cblr-2899	272	4	)	)	PUNCT
cblr-2899	272	5	.	.	PUNCT
cblr-2899	273	1	71	71	NUM
cblr-2899	273	2	dodd	dodd	PROPN
cblr-2899	273	3	-	-	PUNCT
cblr-2899	273	4	frank	frank	PROPN
cblr-2899	273	5	act	act	NOUN
cblr-2899	273	6	§	§	PROPN
cblr-2899	273	7	938(a	938(a	PROPN
cblr-2899	273	8	)	)	PUNCT
cblr-2899	273	9	.	.	PUNCT
cblr-2899	274	1	72	72	NUM
cblr-2899	274	2	dodd	dodd	PROPN
cblr-2899	274	3	-	-	PUNCT
cblr-2899	274	4	frank	frank	PROPN
cblr-2899	274	5	act	act	PROPN
cblr-2899	274	6	§	§	PROPN
cblr-2899	274	7	939	939	NUM
cblr-2899	274	8	.	.	PUNCT
cblr-2899	275	1	73	73	NUM
cblr-2899	275	2	dodd	dodd	PROPN
cblr-2899	275	3	-	-	PUNCT
cblr-2899	275	4	frank	frank	PROPN
cblr-2899	275	5	act	act	PROPN
cblr-2899	275	6	§	§	PROPN
cblr-2899	275	7	939f(b	939f(b	PROPN
cblr-2899	275	8	)	)	PUNCT
cblr-2899	275	9	.	.	PUNCT
cblr-2899	276	1	74	74	NUM
cblr-2899	276	2	sec	sec	PROPN
cblr-2899	276	3	misses	miss	VERB
cblr-2899	276	4	franken	franken	PROPN
cblr-2899	276	5	amendment	amendment	PROPN
cblr-2899	276	6	report	report	PROPN
cblr-2899	276	7	deadline	deadline	NOUN
cblr-2899	276	8	,	,	PUNCT
cblr-2899	276	9	am	be	AUX
cblr-2899	276	10	.	.	PUNCT
cblr-2899	277	1	securitization	securitization	NOUN
cblr-2899	277	2	f.	f.	PROPN
cblr-2899	277	3	,	,	PUNCT
cblr-2899	277	4	(	(	PUNCT
cblr-2899	277	5	july	july	PROPN
cblr-2899	277	6	21	21	NUM
cblr-2899	277	7	,	,	PUNCT
cblr-2899	277	8	2012	2012	NUM
cblr-2899	277	9	)	)	PUNCT
cblr-2899	277	10	,	,	PUNCT
cblr-2899	277	11	www.americansecuritization.com/	www.americansecuritization.com/	PROPN
cblr-2899	277	12	content.aspx?id=7336#.ui9an7tnifi	content.aspx?id=7336#.ui9an7tnifi	PROPN
cblr-2899	277	13	.	.	PUNCT
cblr-2899	278	1	no	no	INTJ
cblr-2899	278	2	.	.	PUNCT
cblr-2899	279	1	3:994	3:994	NUM
cblr-2899	279	2	]	]	PUNCT
cblr-2899	279	3	1013	1013	NUM
cblr-2899	279	4	not	not	PART
cblr-2899	279	5	meet	meet	VERB
cblr-2899	279	6	the	the	DET
cblr-2899	279	7	prescribed	prescribed	ADJ
cblr-2899	279	8	deadline	deadline	NOUN
cblr-2899	279	9	in	in	ADP
cblr-2899	279	10	the	the	DET
cblr-2899	279	11	act	act	NOUN
cblr-2899	279	12	.	.	PUNCT
cblr-2899	280	1	"7	"7	ADJ
cblr-2899	280	2	in	in	ADP
cblr-2899	280	3	a	a	DET
cblr-2899	280	4	recent	recent	ADJ
cblr-2899	280	5	speech	speech	NOUN
cblr-2899	280	6	,	,	PUNCT
cblr-2899	280	7	mary	mary	PROPN
cblr-2899	280	8	schapiro	schapiro	PROPN
cblr-2899	280	9	,	,	PUNCT
cblr-2899	280	10	now	now	ADV
cblr-2899	280	11	-	-	PUNCT
cblr-2899	280	12	former	former	ADJ
cblr-2899	280	13	chairman	chairman	NOUN
cblr-2899	280	14	of	of	ADP
cblr-2899	280	15	the	the	DET
cblr-2899	280	16	sec	sec	PROPN
cblr-2899	280	17	,	,	PUNCT
cblr-2899	280	18	explained	explain	VERB
cblr-2899	280	19	the	the	DET
cblr-2899	280	20	progress	progress	NOUN
cblr-2899	280	21	that	that	SCONJ
cblr-2899	280	22	the	the	DET
cblr-2899	280	23	sec	sec	PROPN
cblr-2899	280	24	has	have	AUX
cblr-2899	280	25	made	make	VERB
cblr-2899	280	26	in	in	ADP
cblr-2899	280	27	implementing	implement	VERB
cblr-2899	280	28	legislation	legislation	NOUN
cblr-2899	280	29	related	relate	VERB
cblr-2899	280	30	to	to	ADP
cblr-2899	280	31	credit	credit	NOUN
cblr-2899	280	32	rating	rating	NOUN
cblr-2899	280	33	agencies	agency	NOUN
cblr-2899	280	34	,	,	PUNCT
cblr-2899	280	35	and	and	CCONJ
cblr-2899	280	36	stated	state	VERB
cblr-2899	280	37	specifically	specifically	ADV
cblr-2899	280	38	that	that	SCONJ
cblr-2899	280	39	the	the	DET
cblr-2899	280	40	sec	sec	PROPN
cblr-2899	280	41	is	be	AUX
cblr-2899	280	42	"	"	PUNCT
cblr-2899	280	43	also	also	ADV
cblr-2899	280	44	considering	consider	VERB
cblr-2899	280	45	proposing	propose	VERB
cblr-2899	280	46	regulations	regulation	NOUN
cblr-2899	280	47	that	that	PRON
cblr-2899	280	48	would	would	AUX
cblr-2899	280	49	require	require	VERB
cblr-2899	280	50	nrsros	nrsros	PROPN
cblr-2899	280	51	to	to	PART
cblr-2899	280	52	...	...	PUNCT
cblr-2899	281	1	[	[	X
cblr-2899	281	2	p]rotect	p]rotect	ADJ
cblr-2899	281	3	against	against	ADP
cblr-2899	281	4	any	any	DET
cblr-2899	281	5	conflicts	conflict	NOUN
cblr-2899	281	6	of	of	ADP
cblr-2899	281	7	interest	interest	NOUN
cblr-2899	281	8	more	more	ADV
cblr-2899	281	9	effectively	effectively	ADV
cblr-2899	281	10	.	.	PUNCT
cblr-2899	282	1	"7	"7	NOUN
cblr-2899	282	2	6	6	NUM
cblr-2899	282	3	however	however	ADV
cblr-2899	282	4	,	,	PUNCT
cblr-2899	282	5	the	the	DET
cblr-2899	282	6	sec	sec	PROPN
cblr-2899	282	7	has	have	VERB
cblr-2899	282	8	yet	yet	ADV
cblr-2899	282	9	to	to	PART
cblr-2899	282	10	set	set	VERB
cblr-2899	282	11	a	a	DET
cblr-2899	282	12	date	date	NOUN
cblr-2899	282	13	or	or	CCONJ
cblr-2899	282	14	time	time	NOUN
cblr-2899	282	15	frame	frame	NOUN
cblr-2899	282	16	for	for	ADP
cblr-2899	282	17	releasing	release	VERB
cblr-2899	282	18	the	the	DET
cblr-2899	282	19	mandated	mandate	VERB
cblr-2899	282	20	study	study	NOUN
cblr-2899	282	21	.	.	PUNCT
cblr-2899	283	1	b.	b.	PROPN
cblr-2899	284	1	the	the	DET
cblr-2899	284	2	european	european	PROPN
cblr-2899	284	3	union	union	PROPN
cblr-2899	284	4	similarly	similarly	ADV
cblr-2899	284	5	,	,	PUNCT
cblr-2899	284	6	europe	europe	PROPN
cblr-2899	284	7	historically	historically	ADV
cblr-2899	284	8	had	have	AUX
cblr-2899	284	9	not	not	PART
cblr-2899	284	10	regulated	regulate	VERB
cblr-2899	284	11	cras	cra	NOUN
cblr-2899	284	12	until	until	ADP
cblr-2899	284	13	very	very	ADV
cblr-2899	284	14	recently	recently	ADV
cblr-2899	284	15	.	.	PUNCT
cblr-2899	285	1	early	early	PROPN
cblr-2899	285	2	eu	eu	PROPN
cblr-2899	285	3	legislation	legislation	NOUN
cblr-2899	285	4	governing	govern	VERB
cblr-2899	285	5	cras	cra	NOUN
cblr-2899	285	6	was	be	AUX
cblr-2899	285	7	based	base	VERB
cblr-2899	285	8	on	on	ADP
cblr-2899	285	9	three	three	NUM
cblr-2899	285	10	directives	directive	NOUN
cblr-2899	285	11	that	that	PRON
cblr-2899	285	12	indirectly	indirectly	ADV
cblr-2899	285	13	applied	apply	VERB
cblr-2899	285	14	to	to	ADP
cblr-2899	285	15	cras	cras	PROPN
cblr-2899	285	16	and	and	CCONJ
cblr-2899	285	17	had	have	VERB
cblr-2899	285	18	to	to	PART
cblr-2899	285	19	be	be	AUX
cblr-2899	285	20	adopted	adopt	VERB
cblr-2899	285	21	as	as	ADP
cblr-2899	285	22	national	national	ADJ
cblr-2899	285	23	legislation	legislation	NOUN
cblr-2899	285	24	before	before	ADP
cblr-2899	285	25	becoming	become	VERB
cblr-2899	285	26	effective	effective	ADJ
cblr-2899	285	27	.	.	PUNCT
cblr-2899	286	1	in	in	ADP
cblr-2899	286	2	2004	2004	NUM
cblr-2899	286	3	,	,	PUNCT
cblr-2899	286	4	the	the	DET
cblr-2899	286	5	international	international	ADJ
cblr-2899	286	6	organization	organization	NOUN
cblr-2899	286	7	of	of	ADP
cblr-2899	286	8	securities	security	NOUN
cblr-2899	286	9	commissions	commission	NOUN
cblr-2899	286	10	created	create	VERB
cblr-2899	286	11	a	a	DET
cblr-2899	286	12	voluntary	voluntary	ADJ
cblr-2899	286	13	code	code	NOUN
cblr-2899	286	14	of	of	ADP
cblr-2899	286	15	conduct	conduct	NOUN
cblr-2899	286	16	(	(	PUNCT
cblr-2899	286	17	"	"	PUNCT
cblr-2899	286	18	iosco	iosco	NOUN
cblr-2899	286	19	code	code	NOUN
cblr-2899	286	20	"	"	PUNCT
cblr-2899	286	21	)	)	PUNCT
cblr-2899	286	22	to	to	PART
cblr-2899	286	23	ensure	ensure	VERB
cblr-2899	286	24	accountability	accountability	NOUN
cblr-2899	286	25	of	of	ADP
cblr-2899	286	26	cras	cras	PROPN
cblr-2899	286	27	in	in	ADP
cblr-2899	286	28	an	an	DET
cblr-2899	286	29	effort	effort	NOUN
cblr-2899	286	30	to	to	PART
cblr-2899	286	31	strengthen	strengthen	VERB
cblr-2899	286	32	self	self	NOUN
cblr-2899	286	33	-	-	PUNCT
cblr-2899	286	34	regulation	regulation	NOUN
cblr-2899	286	35	.	.	PUNCT
cblr-2899	287	1	8	8	NUM
cblr-2899	287	2	the	the	DET
cblr-2899	287	3	european	european	PROPN
cblr-2899	287	4	commission	commission	PROPN
cblr-2899	287	5	(	(	PUNCT
cblr-2899	287	6	"	"	PUNCT
cblr-2899	287	7	ec	ec	PROPN
cblr-2899	287	8	"	"	PUNCT
cblr-2899	287	9	)	)	PUNCT
cblr-2899	287	10	recommended	recommend	VERB
cblr-2899	287	11	that	that	SCONJ
cblr-2899	287	12	the	the	DET
cblr-2899	287	13	cras	cras	PROPN
cblr-2899	287	14	incorporate	incorporate	VERB
cblr-2899	287	15	the	the	DET
cblr-2899	287	16	iosco	iosco	NOUN
cblr-2899	287	17	code	code	NOUN
cblr-2899	287	18	into	into	ADP
cblr-2899	287	19	their	their	PRON
cblr-2899	287	20	own	own	ADJ
cblr-2899	287	21	code	code	NOUN
cblr-2899	287	22	of	of	ADP
cblr-2899	287	23	conductessentially	conductessentially	ADV
cblr-2899	287	24	operating	operate	VERB
cblr-2899	287	25	under	under	ADP
cblr-2899	287	26	a	a	DET
cblr-2899	287	27	"	"	PUNCT
cblr-2899	287	28	comply	comply	NOUN
cblr-2899	287	29	or	or	CCONJ
cblr-2899	287	30	explain	explain	VERB
cblr-2899	287	31	model	model	NOUN
cblr-2899	287	32	.	.	PUNCT
cblr-2899	288	1	"7	"7	NOUN
cblr-2899	288	2	9	9	NUM
cblr-2899	288	3	following	follow	VERB
cblr-2899	288	4	the	the	DET
cblr-2899	288	5	enron	enron	PROPN
cblr-2899	288	6	scandal	scandal	NOUN
cblr-2899	288	7	,	,	PUNCT
cblr-2899	288	8	the	the	DET
cblr-2899	288	9	ec	ec	PROPN
cblr-2899	288	10	asked	ask	VERB
cblr-2899	288	11	the	the	DET
cblr-2899	288	12	committee	committee	NOUN
cblr-2899	288	13	of	of	ADP
cblr-2899	288	14	european	european	PROPN
cblr-2899	288	15	securities	security	NOUN
cblr-2899	288	16	regulators	regulator	NOUN
cblr-2899	288	17	(	(	PUNCT
cblr-2899	288	18	"	"	PUNCT
cblr-2899	288	19	cesr	cesr	NOUN
cblr-2899	288	20	"	"	PUNCT
cblr-2899	288	21	)	)	PUNCT
cblr-2899	288	22	to	to	PART
cblr-2899	288	23	issue	issue	VERB
cblr-2899	288	24	a	a	DET
cblr-2899	288	25	report	report	NOUN
cblr-2899	288	26	on	on	ADP
cblr-2899	288	27	whether	whether	SCONJ
cblr-2899	288	28	a	a	DET
cblr-2899	288	29	stronger	strong	ADJ
cblr-2899	288	30	regulatory	regulatory	ADJ
cblr-2899	288	31	framework	framework	NOUN
cblr-2899	288	32	75	75	NUM
cblr-2899	288	33	sec	sec	PROPN
cblr-2899	288	34	misses	miss	VERB
cblr-2899	288	35	franken	franken	PROPN
cblr-2899	288	36	amendment	amendment	PROPN
cblr-2899	288	37	report	report	PROPN
cblr-2899	288	38	deadline	deadline	NOUN
cblr-2899	288	39	,	,	PUNCT
cblr-2899	288	40	am	be	AUX
cblr-2899	288	41	.	.	PUNCT
cblr-2899	289	1	securitization	securitization	NOUN
cblr-2899	289	2	f.	f.	PROPN
cblr-2899	289	3	,	,	PUNCT
cblr-2899	289	4	(	(	PUNCT
cblr-2899	289	5	july	july	PROPN
cblr-2899	289	6	21	21	NUM
cblr-2899	289	7	,	,	PUNCT
cblr-2899	289	8	2012	2012	NUM
cblr-2899	289	9	)	)	PUNCT
cblr-2899	289	10	,	,	PUNCT
cblr-2899	289	11	www.americansecuritization.com/	www.americansecuritization.com/	PROPN
cblr-2899	289	12	content.aspx?id=7336#.ui9an7tnifi	content.aspx?id=7336#.ui9an7tnifi	PROPN
cblr-2899	289	13	.	.	PUNCT
cblr-2899	290	1	see	see	VERB
cblr-2899	290	2	generally	generally	ADV
cblr-2899	290	3	alexander	alexander	PROPN
cblr-2899	290	4	eichler	eichler	PROPN
cblr-2899	290	5	,	,	PUNCT
cblr-2899	290	6	regulators	regulator	NOUN
cblr-2899	290	7	have	have	AUX
cblr-2899	290	8	missed	miss	VERB
cblr-2899	290	9	three	three	NUM
cblr-2899	290	10	-	-	PUNCT
cblr-2899	290	11	fourths	fourth	NOUN
cblr-2899	290	12	of	of	ADP
cblr-2899	290	13	dodd	dodd	PROPN
cblr-2899	290	14	-	-	PUNCT
cblr-2899	290	15	frank	frank	ADJ
cblr-2899	290	16	deadlines	deadline	NOUN
cblr-2899	290	17	so	so	ADV
cblr-2899	290	18	far	far	ADV
cblr-2899	290	19	,	,	PUNCT
cblr-2899	290	20	huffington	huffington	PROPN
cblr-2899	290	21	post	post	PROPN
cblr-2899	290	22	(	(	PUNCT
cblr-2899	290	23	jan	jan	PROPN
cblr-2899	290	24	.	.	PROPN
cblr-2899	290	25	4	4	NUM
cblr-2899	290	26	,	,	PUNCT
cblr-2899	290	27	2012	2012	NUM
cblr-2899	290	28	,	,	PUNCT
cblr-2899	290	29	3:32	3:32	NUM
cblr-2899	290	30	pm	pm	NOUN
cblr-2899	290	31	)	)	PUNCT
cblr-2899	290	32	,	,	PUNCT
cblr-2899	290	33	www.huffingtonpost	www.huffingtonpost	NOUN
cblr-2899	290	34	.	.	PUNCT
cblr-2899	290	35	com/2012/01/04	com/2012/01/04	X
cblr-2899	290	36	/	/	SYM
cblr-2899	290	37	dodd	dodd	PROPN
cblr-2899	290	38	-	-	PUNCT
cblr-2899	290	39	frank	frank	ADJ
cblr-2899	290	40	-	-	PUNCT
cblr-2899	290	41	deadlines	deadline	NOUN
cblr-2899	290	42	_	_	NOUN
cblr-2899	290	43	n_1184060.html	n_1184060.html	NOUN
cblr-2899	290	44	.	.	PUNCT
cblr-2899	291	1	76	76	NUM
cblr-2899	291	2	mary	mary	PROPN
cblr-2899	291	3	schapiro	schapiro	PROPN
cblr-2899	291	4	,	,	PUNCT
cblr-2899	291	5	chairman	chairman	NOUN
cblr-2899	291	6	,	,	PUNCT
cblr-2899	291	7	sec	sec	PROPN
cblr-2899	291	8	,	,	PUNCT
cblr-2899	291	9	remarks	remark	VERB
cblr-2899	291	10	at	at	ADP
cblr-2899	291	11	the	the	DET
cblr-2899	291	12	george	george	PROPN
cblr-2899	291	13	washington	washington	PROPN
cblr-2899	291	14	university	university	PROPN
cblr-2899	291	15	center	center	NOUN
cblr-2899	291	16	for	for	ADP
cblr-2899	291	17	law	law	NOUN
cblr-2899	291	18	,	,	PUNCT
cblr-2899	291	19	economics	economic	NOUN
cblr-2899	291	20	and	and	CCONJ
cblr-2899	291	21	finance	finance	NOUN
cblr-2899	291	22	fourth	fourth	ADJ
cblr-2899	291	23	annual	annual	ADJ
cblr-2899	291	24	regulatory	regulatory	ADJ
cblr-2899	291	25	reform	reform	NOUN
cblr-2899	291	26	symposium	symposium	NOUN
cblr-2899	291	27	(	(	PUNCT
cblr-2899	291	28	oct	oct	PROPN
cblr-2899	291	29	.	.	PROPN
cblr-2899	291	30	26	26	NUM
cblr-2899	291	31	,	,	PUNCT
cblr-2899	291	32	2012	2012	NUM
cblr-2899	291	33	)	)	PUNCT
cblr-2899	291	34	,	,	PUNCT
cblr-2899	291	35	available	available	ADJ
cblr-2899	291	36	at	at	ADP
cblr-2899	291	37	www.sec.gov/news/speechl2012/spchlo2612mls.htm	www.sec.gov/news/speechl2012/spchlo2612mls.htm	PROPN
cblr-2899	291	38	.	.	PUNCT
cblr-2899	292	1	7	7	NUM
cblr-2899	292	2	see	see	VERB
cblr-2899	292	3	sy	sy	PROPN
cblr-2899	292	4	,	,	PUNCT
cblr-2899	292	5	supra	supra	PROPN
cblr-2899	292	6	note	note	PROPN
cblr-2899	292	7	28	28	NUM
cblr-2899	292	8	,	,	PUNCT
cblr-2899	292	9	at	at	ADP
cblr-2899	292	10	6	6	NUM
cblr-2899	292	11	-	-	SYM
cblr-2899	292	12	7	7	NUM
cblr-2899	292	13	.	.	NUM
cblr-2899	292	14	78	78	NUM
cblr-2899	293	1	i	i	PRON
cblr-2899	293	2	d.	d.	PROPN
cblr-2899	293	3	79	79	NUM
cblr-2899	293	4	see	see	VERB
cblr-2899	293	5	coffee	coffee	NOUN
cblr-2899	293	6	,	,	PUNCT
cblr-2899	293	7	supra	supra	PROPN
cblr-2899	293	8	note	note	NOUN
cblr-2899	293	9	33	33	NUM
cblr-2899	293	10	,	,	PUNCT
cblr-2899	293	11	at	at	ADP
cblr-2899	293	12	249	249	NUM
cblr-2899	293	13	.	.	PUNCT
cblr-2899	294	1	col	col	PROPN
cblr-2899	294	2	umbia	umbia	PROPN
cblr-2899	294	3	b	b	PROPN
cblr-2899	294	4	usiness	usiness	PROPN
cblr-2899	294	5	la	la	PROPN
cblr-2899	294	6	w	w	PROPN
cblr-2899	294	7	re	re	PROPN
cblr-2899	294	8	vie	vie	PROPN
cblr-2899	294	9	w	w	PROPN
cblr-2899	295	1	[	[	X
cblr-2899	295	2	vol	vol	NOUN
cblr-2899	295	3	.	.	PUNCT
cblr-2899	295	4	20121014	20121014	NUM
cblr-2899	295	5	regulating	regulate	VERB
cblr-2899	295	6	credit	credit	NOUN
cblr-2899	295	7	rating	rating	NOUN
cblr-2899	295	8	agencies	agency	NOUN
cblr-2899	295	9	was	be	AUX
cblr-2899	295	10	necessary.80	necessary.80	NOUN
cblr-2899	295	11	in	in	ADP
cblr-2899	295	12	2005	2005	NUM
cblr-2899	295	13	,	,	PUNCT
cblr-2899	295	14	cesr	cesr	PROPN
cblr-2899	295	15	issued	issue	VERB
cblr-2899	295	16	a	a	DET
cblr-2899	295	17	report	report	NOUN
cblr-2899	295	18	that	that	PRON
cblr-2899	295	19	stated	state	VERB
cblr-2899	295	20	no	no	DET
cblr-2899	295	21	further	further	ADJ
cblr-2899	295	22	legislation	legislation	NOUN
cblr-2899	295	23	was	be	AUX
cblr-2899	295	24	necessary	necessary	ADJ
cblr-2899	295	25	to	to	PART
cblr-2899	295	26	regulate	regulate	VERB
cblr-2899	295	27	cras	cra	NOUN
cblr-2899	295	28	because	because	SCONJ
cblr-2899	295	29	the	the	DET
cblr-2899	295	30	eu	eu	PROPN
cblr-2899	295	31	directives	directive	NOUN
cblr-2899	295	32	covered	cover	VERB
cblr-2899	295	33	cras	cras	PROPN
cblr-2899	295	34	indirectly	indirectly	ADV
cblr-2899	295	35	and	and	CCONJ
cblr-2899	295	36	the	the	DET
cblr-2899	295	37	industry	industry	NOUN
cblr-2899	295	38	was	be	AUX
cblr-2899	295	39	generally	generally	ADV
cblr-2899	295	40	in	in	ADP
cblr-2899	295	41	compliance	compliance	NOUN
cblr-2899	295	42	with	with	ADP
cblr-2899	295	43	the	the	DET
cblr-2899	295	44	iosco	iosco	NOUN
cblr-2899	295	45	code	code	NOUN
cblr-2899	295	46	.	.	PUNCT
cblr-2899	296	1	"	"	PUNCT
cblr-2899	296	2	'	'	PUNCT
cblr-2899	296	3	however	however	ADV
cblr-2899	296	4	,	,	PUNCT
cblr-2899	296	5	the	the	DET
cblr-2899	296	6	financial	financial	ADJ
cblr-2899	296	7	crisis	crisis	NOUN
cblr-2899	296	8	led	lead	VERB
cblr-2899	296	9	europe	europe	PROPN
cblr-2899	296	10	to	to	PART
cblr-2899	296	11	reconsider	reconsider	VERB
cblr-2899	296	12	this	this	DET
cblr-2899	296	13	advice	advice	NOUN
cblr-2899	296	14	.	.	PUNCT
cblr-2899	297	1	indeed	indeed	ADV
cblr-2899	297	2	,	,	PUNCT
cblr-2899	297	3	in	in	ADP
cblr-2899	297	4	2009	2009	NUM
cblr-2899	297	5	,	,	PUNCT
cblr-2899	297	6	the	the	DET
cblr-2899	297	7	european	european	ADJ
cblr-2899	297	8	parliament	parliament	PROPN
cblr-2899	297	9	adopted	adopt	VERB
cblr-2899	297	10	a	a	DET
cblr-2899	297	11	"	"	PUNCT
cblr-2899	297	12	proposal	proposal	NOUN
cblr-2899	297	13	by	by	ADP
cblr-2899	297	14	the	the	DET
cblr-2899	297	15	european	european	PROPN
cblr-2899	297	16	commission	commission	PROPN
cblr-2899	297	17	for	for	ADP
cblr-2899	297	18	a	a	DET
cblr-2899	297	19	regulation	regulation	NOUN
cblr-2899	297	20	on	on	ADP
cblr-2899	297	21	credit	credit	NOUN
cblr-2899	297	22	rating	rating	NOUN
cblr-2899	297	23	agencies	agency	NOUN
cblr-2899	297	24	"	"	PUNCT
cblr-2899	297	25	(	(	PUNCT
cblr-2899	297	26	the	the	DET
cblr-2899	297	27	"	"	PUNCT
cblr-2899	297	28	proposal	proposal	NOUN
cblr-2899	297	29	"	"	PUNCT
cblr-2899	297	30	)	)	PUNCT
cblr-2899	297	31	.	.	PUNCT
cblr-2899	298	1	cras	cras	PROPN
cblr-2899	298	2	operating	operate	VERB
cblr-2899	298	3	in	in	ADP
cblr-2899	298	4	europe	europe	PROPN
cblr-2899	298	5	are	be	AUX
cblr-2899	298	6	now	now	ADV
cblr-2899	298	7	subject	subject	ADJ
cblr-2899	298	8	to	to	ADP
cblr-2899	298	9	mandatory	mandatory	ADJ
cblr-2899	298	10	registration	registration	NOUN
cblr-2899	298	11	and	and	CCONJ
cblr-2899	298	12	,	,	PUNCT
cblr-2899	298	13	in	in	ADP
cblr-2899	298	14	2010	2010	NUM
cblr-2899	298	15	,	,	PUNCT
cblr-2899	298	16	the	the	DET
cblr-2899	298	17	european	european	ADJ
cblr-2899	298	18	security	security	NOUN
cblr-2899	298	19	markets	market	NOUN
cblr-2899	298	20	authority	authority	NOUN
cblr-2899	298	21	(	(	PUNCT
cblr-2899	298	22	"	"	PUNCT
cblr-2899	298	23	esma	esma	NOUN
cblr-2899	298	24	"	"	PUNCT
cblr-2899	298	25	)	)	PUNCT
cblr-2899	298	26	was	be	AUX
cblr-2899	298	27	chosen	choose	VERB
cblr-2899	298	28	as	as	SCONJ
cblr-2899	298	29	the	the	DET
cblr-2899	298	30	body	body	NOUN
cblr-2899	298	31	to	to	PART
cblr-2899	298	32	supervise	supervise	VERB
cblr-2899	298	33	cras	cras	X
cblr-2899	298	34	.	.	PUNCT
cblr-2899	298	35	"	"	PUNCT
cblr-2899	299	1	professor	professor	NOUN
cblr-2899	299	2	coffee	coffee	NOUN
cblr-2899	299	3	highlights	highlight	NOUN
cblr-2899	299	4	that	that	SCONJ
cblr-2899	299	5	this	this	PRON
cblr-2899	299	6	is	be	AUX
cblr-2899	299	7	the	the	DET
cblr-2899	299	8	first	first	ADJ
cblr-2899	299	9	european	european	ADJ
cblr-2899	299	10	body	body	NOUN
cblr-2899	299	11	with	with	ADP
cblr-2899	299	12	regulatory	regulatory	ADJ
cblr-2899	299	13	authority	authority	NOUN
cblr-2899	299	14	over	over	ADP
cblr-2899	299	15	the	the	DET
cblr-2899	299	16	securities	security	NOUN
cblr-2899	299	17	markets.83	markets.83	VERB
cblr-2899	299	18	it	it	PRON
cblr-2899	299	19	also	also	ADV
cblr-2899	299	20	has	have	VERB
cblr-2899	299	21	marginally	marginally	ADV
cblr-2899	299	22	greater	great	ADJ
cblr-2899	299	23	authority	authority	NOUN
cblr-2899	299	24	than	than	ADP
cblr-2899	299	25	the	the	DET
cblr-2899	299	26	sec	sec	PROPN
cblr-2899	299	27	because	because	SCONJ
cblr-2899	299	28	it	it	PRON
cblr-2899	299	29	is	be	AUX
cblr-2899	299	30	empowered	empower	VERB
cblr-2899	299	31	to	to	PART
cblr-2899	299	32	evaluate	evaluate	VERB
cblr-2899	299	33	and	and	CCONJ
cblr-2899	299	34	regulate	regulate	VERB
cblr-2899	299	35	the	the	DET
cblr-2899	299	36	substantive	substantive	ADJ
cblr-2899	299	37	methodologies	methodology	NOUN
cblr-2899	299	38	used	use	VERB
cblr-2899	299	39	by	by	ADP
cblr-2899	299	40	cras	cra	NOUN
cblr-2899	299	41	.	.	PUNCT
cblr-2899	300	1	84	84	NUM
cblr-2899	300	2	on	on	ADP
cblr-2899	300	3	may	may	PROPN
cblr-2899	300	4	30	30	NUM
cblr-2899	300	5	,	,	PUNCT
cblr-2899	300	6	2012	2012	NUM
cblr-2899	300	7	,	,	PUNCT
cblr-2899	300	8	the	the	DET
cblr-2899	300	9	ec	ec	PROPN
cblr-2899	300	10	published	publish	VERB
cblr-2899	300	11	regulatory	regulatory	ADJ
cblr-2899	300	12	technical	technical	ADJ
cblr-2899	300	13	standards	standard	NOUN
cblr-2899	300	14	for	for	ADP
cblr-2899	300	15	credit	credit	NOUN
cblr-2899	300	16	rating	rating	NOUN
cblr-2899	300	17	agencies	agency	NOUN
cblr-2899	300	18	in	in	ADP
cblr-2899	300	19	the	the	DET
cblr-2899	300	20	official	official	ADJ
cblr-2899	300	21	journal	journal	NOUN
cblr-2899	300	22	of	of	ADP
cblr-2899	300	23	80	80	NUM
cblr-2899	300	24	cesr	cesr	NOUN
cblr-2899	300	25	,	,	PUNCT
cblr-2899	300	26	cesr/06	cesr/06	NOUN
cblr-2899	300	27	-	-	X
cblr-2899	300	28	545	545	NUM
cblr-2899	300	29	,	,	PUNCT
cblr-2899	300	30	cesr	cesr	PROPN
cblr-2899	300	31	's	's	PART
cblr-2899	300	32	report	report	NOUN
cblr-2899	300	33	to	to	ADP
cblr-2899	300	34	the	the	DET
cblr-2899	300	35	european	european	ADJ
cblr-2899	300	36	comiission	comiission	NOUN
cblr-2899	300	37	on	on	ADP
cblr-2899	300	38	the	the	DET
cblr-2899	300	39	compliance	compliance	NOUN
cblr-2899	300	40	of	of	ADP
cblr-2899	300	41	credit	credit	NOUN
cblr-2899	300	42	rating	rating	NOUN
cblr-2899	300	43	agencies	agency	NOUN
cblr-2899	300	44	with	with	ADP
cblr-2899	300	45	the	the	DET
cblr-2899	300	46	iosco	iosco	PROPN
cblr-2899	300	47	code	code	PROPN
cblr-2899	300	48	2	2	NUM
cblr-2899	300	49	(	(	PUNCT
cblr-2899	300	50	2006	2006	NUM
cblr-2899	300	51	)	)	PUNCT
cblr-2899	301	1	[	[	X
cblr-2899	301	2	hereinafter	hereinafter	NOUN
cblr-2899	301	3	first	first	ADV
cblr-2899	301	4	cesr	cesr	NOUN
cblr-2899	301	5	report	report	NOUN
cblr-2899	301	6	]	]	PUNCT
cblr-2899	301	7	,	,	PUNCT
cblr-2899	301	8	available	available	ADJ
cblr-2899	301	9	at	at	ADP
cblr-2899	301	10	http://ec.europa.eu/internal-market/securities/docs/agencies/report-en.pdf	http://ec.europa.eu/internal-market/securities/docs/agencies/report-en.pdf	PROPN
cblr-2899	301	11	;	;	PUNCT
cblr-2899	301	12	see	see	VERB
cblr-2899	301	13	also	also	ADV
cblr-2899	301	14	sy	sy	PROPN
cblr-2899	301	15	,	,	PUNCT
cblr-2899	301	16	supra	supra	PROPN
cblr-2899	301	17	note	note	PROPN
cblr-2899	301	18	28	28	NUM
cblr-2899	301	19	,	,	PUNCT
cblr-2899	301	20	at	at	ADP
cblr-2899	301	21	7	7	NUM
cblr-2899	301	22	.	.	PUNCT
cblr-2899	301	23	note	note	VERB
cblr-2899	301	24	that	that	SCONJ
cblr-2899	301	25	in	in	ADP
cblr-2899	301	26	cesr	cesr	PROPN
cblr-2899	301	27	's	's	PART
cblr-2899	301	28	second	second	ADJ
cblr-2899	301	29	2008	2008	NUM
cblr-2899	301	30	report	report	NOUN
cblr-2899	301	31	,	,	PUNCT
cblr-2899	301	32	it	it	PRON
cblr-2899	301	33	urges	urge	VERB
cblr-2899	301	34	the	the	DET
cblr-2899	301	35	commission	commission	NOUN
cblr-2899	301	36	"	"	PUNCT
cblr-2899	301	37	as	as	ADP
cblr-2899	301	38	an	an	DET
cblr-2899	301	39	immediate	immediate	ADJ
cblr-2899	301	40	step	step	NOUN
cblr-2899	301	41	"	"	PUNCT
cblr-2899	301	42	to	to	PART
cblr-2899	301	43	form	form	VERB
cblr-2899	301	44	"	"	PUNCT
cblr-2899	301	45	an	an	DET
cblr-2899	301	46	international	international	ADJ
cblr-2899	301	47	cras	cras	X
cblr-2899	301	48	standard	standard	PROPN
cblr-2899	301	49	setting	set	VERB
cblr-2899	301	50	and	and	CCONJ
cblr-2899	301	51	monitoring	monitor	VERB
cblr-2899	301	52	body	body	NOUN
cblr-2899	301	53	to	to	PART
cblr-2899	301	54	develop	develop	VERB
cblr-2899	301	55	and	and	CCONJ
cblr-2899	301	56	monitor	monitor	VERB
cblr-2899	301	57	compliance	compliance	NOUN
cblr-2899	301	58	with	with	ADP
cblr-2899	301	59	international	international	ADJ
cblr-2899	301	60	standards	standard	NOUN
cblr-2899	301	61	in	in	ADP
cblr-2899	301	62	line	line	NOUN
cblr-2899	301	63	with	with	ADP
cblr-2899	301	64	the	the	DET
cblr-2899	301	65	steps	step	NOUN
cblr-2899	301	66	taken	take	VERB
cblr-2899	301	67	by	by	ADP
cblr-2899	301	68	iosco	iosco	NOUN
cblr-2899	301	69	,	,	PUNCT
cblr-2899	301	70	using	use	VERB
cblr-2899	301	71	full	full	ADJ
cblr-2899	301	72	public	public	ADJ
cblr-2899	301	73	transparency	transparency	NOUN
cblr-2899	301	74	and	and	CCONJ
cblr-2899	301	75	acting	act	VERB
cblr-2899	301	76	in	in	ADP
cblr-2899	301	77	a	a	DET
cblr-2899	301	78	'	'	PUNCT
cblr-2899	301	79	name	name	NOUN
cblr-2899	301	80	and	and	CCONJ
cblr-2899	301	81	shame	shame	NOUN
cblr-2899	301	82	'	'	PART
cblr-2899	301	83	capacity	capacity	NOUN
cblr-2899	301	84	to	to	PART
cblr-2899	301	85	enforce	enforce	VERB
cblr-2899	301	86	compliance	compliance	NOUN
cblr-2899	301	87	with	with	ADP
cblr-2899	301	88	these	these	DET
cblr-2899	301	89	standards	standard	NOUN
cblr-2899	301	90	via	via	ADP
cblr-2899	301	91	market	market	NOUN
cblr-2899	301	92	discipline	discipline	NOUN
cblr-2899	301	93	.	.	PUNCT
cblr-2899	301	94	"	"	PUNCT
cblr-2899	302	1	cesr/08	cesr/08	PROPN
cblr-2899	302	2	-	-	PUNCT
cblr-2899	302	3	277cesr	277cesr	PROPN
cblr-2899	302	4	's	's	PART
cblr-2899	302	5	second	second	ADJ
cblr-2899	302	6	report	report	NOUN
cblr-2899	302	7	to	to	ADP
cblr-2899	302	8	the	the	DET
cblr-2899	302	9	european	european	PROPN
cblr-2899	302	10	commission	commission	PROPN
cblr-2899	302	11	on	on	ADP
cblr-2899	302	12	the	the	DET
cblr-2899	302	13	compliance	compliance	NOUN
cblr-2899	302	14	of	of	ADP
cblr-2899	302	15	credit	credit	NOUN
cblr-2899	302	16	rating	rating	NOUN
cblr-2899	302	17	agencies	agency	NOUN
cblr-2899	302	18	with	with	ADP
cblr-2899	302	19	the	the	DET
cblr-2899	302	20	iosco	iosco	NOUN
cblr-2899	302	21	code	code	NOUN
cblr-2899	302	22	and	and	CCONJ
cblr-2899	302	23	the	the	DET
cblr-2899	302	24	role	role	NOUN
cblr-2899	302	25	of	of	ADP
cblr-2899	302	26	credit	credit	NOUN
cblr-2899	302	27	agencies	agency	NOUN
cblr-2899	302	28	in	in	ADP
cblr-2899	302	29	structured	structured	ADJ
cblr-2899	302	30	finance	finance	NOUN
cblr-2899	302	31	3	3	NUM
cblr-2899	302	32	(	(	PUNCT
cblr-2899	302	33	2008	2008	NUM
cblr-2899	302	34	)	)	PUNCT
cblr-2899	302	35	,	,	PUNCT
cblr-2899	302	36	available	available	ADJ
cblr-2899	302	37	at	at	ADP
cblr-2899	302	38	www.esma.europa.eulsystem/files/cesr	www.esma.europa.eulsystem/files/cesr	NOUN
cblr-2899	302	39	_	_	NOUN
cblr-2899	302	40	08277.pdf	08277.pdf	NUM
cblr-2899	302	41	.	.	PUNCT
cblr-2899	303	1	81	81	NUM
cblr-2899	303	2	first	first	ADJ
cblr-2899	303	3	cesr	cesr	NOUN
cblr-2899	303	4	report	report	NOUN
cblr-2899	303	5	,	,	PUNCT
cblr-2899	303	6	supra	supra	PROPN
cblr-2899	303	7	note	note	PROPN
cblr-2899	303	8	80	80	NUM
cblr-2899	303	9	,	,	PUNCT
cblr-2899	303	10	at	at	ADP
cblr-2899	303	11	2	2	NUM
cblr-2899	303	12	.	.	X
cblr-2899	303	13	82	82	NUM
cblr-2899	303	14	see	see	VERB
cblr-2899	303	15	generally	generally	ADV
cblr-2899	303	16	proposal	proposal	NOUN
cblr-2899	303	17	for	for	ADP
cblr-2899	303	18	a	a	DET
cblr-2899	303	19	regulation	regulation	NOUN
cblr-2899	303	20	of	of	ADP
cblr-2899	303	21	the	the	DET
cblr-2899	303	22	european	european	ADJ
cblr-2899	303	23	parliament	parliament	NOUN
cblr-2899	303	24	and	and	CCONJ
cblr-2899	303	25	of	of	ADP
cblr-2899	303	26	the	the	DET
cblr-2899	303	27	council	council	NOUN
cblr-2899	303	28	,	,	PUNCT
cblr-2899	303	29	com	com	NOUN
cblr-2899	303	30	,	,	PUNCT
cblr-2899	303	31	2011/0136	2011/0136	NUM
cblr-2899	303	32	,	,	PUNCT
cblr-2899	303	33	(	(	PUNCT
cblr-2899	303	34	2011	2011	NUM
cblr-2899	303	35	)	)	PUNCT
cblr-2899	303	36	747	747	NUM
cblr-2899	303	37	final	final	ADJ
cblr-2899	303	38	(	(	PUNCT
cblr-2899	303	39	nov	nov	PROPN
cblr-2899	303	40	.	.	PROPN
cblr-2899	303	41	15	15	NUM
cblr-2899	303	42	,	,	PUNCT
cblr-2899	303	43	2011	2011	NUM
cblr-2899	303	44	)	)	PUNCT
cblr-2899	304	1	[	[	X
cblr-2899	304	2	hereinafter	hereinafter	NOUN
cblr-2899	304	3	ec	ec	PROPN
cblr-2899	304	4	proposal	proposal	NOUN
cblr-2899	304	5	]	]	PUNCT
cblr-2899	304	6	,	,	PUNCT
cblr-2899	304	7	available	available	ADJ
cblr-2899	304	8	at	at	ADP
cblr-2899	304	9	http://eurlex.europa.eu/lexuriserv/lexuriserv.do?uri=com:2011:0747:fin:en	http://eurlex.europa.eu/lexuriserv/lexuriserv.do?uri=com:2011:0747:fin:en	NOUN
cblr-2899	304	10	:	:	PUNCT
cblr-2899	304	11	pdf	pdf	NOUN
cblr-2899	304	12	.	.	PUNCT
cblr-2899	304	13	83	83	NUM
cblr-2899	304	14	see	see	VERB
cblr-2899	304	15	coffee	coffee	NOUN
cblr-2899	304	16	,	,	PUNCT
cblr-2899	304	17	supra	supra	PROPN
cblr-2899	304	18	note	note	NOUN
cblr-2899	304	19	33	33	NUM
cblr-2899	304	20	,	,	PUNCT
cblr-2899	304	21	at	at	ADP
cblr-2899	304	22	249	249	NUM
cblr-2899	304	23	.	.	PUNCT
cblr-2899	305	1	84	84	NUM
cblr-2899	305	2	see	see	VERB
cblr-2899	305	3	i	i	PRON
cblr-2899	305	4	d.	d.	PROPN
cblr-2899	305	5	at	at	ADP
cblr-2899	305	6	250	250	NUM
cblr-2899	305	7	.	.	PUNCT
cblr-2899	306	1	no	no	INTJ
cblr-2899	306	2	.	.	NOUN
cblr-2899	307	1	3:994	3:994	NUM
cblr-2899	307	2	]	]	PUNCT
cblr-2899	307	3	1015	1015	NUM
cblr-2899	308	1	the	the	DET
cblr-2899	308	2	european	european	PROPN
cblr-2899	308	3	union	union	PROPN
cblr-2899	308	4	.	.	PUNCT
cblr-2899	309	1	these	these	DET
cblr-2899	309	2	technical	technical	ADJ
cblr-2899	309	3	standards	standard	NOUN
cblr-2899	309	4	set	set	VERB
cblr-2899	309	5	out	out	ADP
cblr-2899	309	6	(	(	PUNCT
cblr-2899	309	7	1	1	X
cblr-2899	309	8	)	)	PUNCT
cblr-2899	309	9	the	the	DET
cblr-2899	309	10	information	information	NOUN
cblr-2899	309	11	to	to	PART
cblr-2899	309	12	be	be	AUX
cblr-2899	309	13	provided	provide	VERB
cblr-2899	309	14	by	by	ADP
cblr-2899	309	15	a	a	DET
cblr-2899	309	16	credit	credit	NOUN
cblr-2899	309	17	rating	rating	NOUN
cblr-2899	309	18	agency	agency	NOUN
cblr-2899	309	19	in	in	ADP
cblr-2899	309	20	its	its	PRON
cblr-2899	309	21	application	application	NOUN
cblr-2899	309	22	for	for	ADP
cblr-2899	309	23	registration	registration	NOUN
cblr-2899	309	24	to	to	PART
cblr-2899	309	25	esma	esma	VERB
cblr-2899	309	26	;	;	PUNCT
cblr-2899	309	27	(	(	PUNCT
cblr-2899	309	28	2	2	X
cblr-2899	309	29	)	)	PUNCT
cblr-2899	309	30	the	the	DET
cblr-2899	309	31	presentation	presentation	NOUN
cblr-2899	309	32	of	of	ADP
cblr-2899	309	33	the	the	DET
cblr-2899	309	34	information	information	NOUN
cblr-2899	309	35	to	to	PART
cblr-2899	309	36	be	be	AUX
cblr-2899	309	37	disclosed	disclose	VERB
cblr-2899	309	38	by	by	ADP
cblr-2899	309	39	cras	cras	PROPN
cblr-2899	309	40	in	in	ADP
cblr-2899	309	41	a	a	DET
cblr-2899	309	42	central	central	ADJ
cblr-2899	309	43	repository	repository	NOUN
cblr-2899	309	44	;	;	PUNCT
cblr-2899	309	45	(	(	PUNCT
cblr-2899	309	46	3	3	X
cblr-2899	309	47	)	)	PUNCT
cblr-2899	309	48	how	how	SCONJ
cblr-2899	309	49	es1via	es1via	PROPN
cblr-2899	309	50	will	will	AUX
cblr-2899	309	51	assess	assess	VERB
cblr-2899	309	52	rating	rating	NOUN
cblr-2899	309	53	methodologies	methodology	NOUN
cblr-2899	309	54	;	;	PUNCT
cblr-2899	309	55	and	and	CCONJ
cblr-2899	309	56	(	(	PUNCT
cblr-2899	309	57	4	4	X
cblr-2899	309	58	)	)	PUNCT
cblr-2899	309	59	what	what	PRON
cblr-2899	309	60	information	information	NOUN
cblr-2899	309	61	cras	cra	NOUN
cblr-2899	309	62	have	have	VERB
cblr-2899	309	63	to	to	PART
cblr-2899	309	64	submit	submit	VERB
cblr-2899	309	65	to	to	ADP
cblr-2899	309	66	esma.8	esma.8	PROPN
cblr-2899	309	67	6	6	NUM
cblr-2899	309	68	additionally	additionally	ADV
cblr-2899	309	69	,	,	PUNCT
cblr-2899	309	70	on	on	ADP
cblr-2899	309	71	october	october	PROPN
cblr-2899	309	72	5	5	NUM
cblr-2899	309	73	,	,	PUNCT
cblr-2899	309	74	2012	2012	NUM
cblr-2899	309	75	the	the	DET
cblr-2899	309	76	ec	ec	PROPN
cblr-2899	309	77	adopted	adopt	VERB
cblr-2899	309	78	three	three	NUM
cblr-2899	309	79	implementing	implement	VERB
cblr-2899	309	80	decisions	decision	NOUN
cblr-2899	309	81	,	,	PUNCT
cblr-2899	309	82	which	which	PRON
cblr-2899	309	83	confirm	confirm	VERB
cblr-2899	309	84	that	that	SCONJ
cblr-2899	309	85	the	the	DET
cblr-2899	309	86	rules	rule	NOUN
cblr-2899	309	87	in	in	ADP
cblr-2899	309	88	place	place	NOUN
cblr-2899	309	89	for	for	ADP
cblr-2899	309	90	cras	cra	NOUN
cblr-2899	309	91	in	in	ADP
cblr-2899	309	92	the	the	DET
cblr-2899	309	93	united	united	PROPN
cblr-2899	309	94	states	states	PROPN
cblr-2899	309	95	,	,	PUNCT
cblr-2899	309	96	canada	canada	PROPN
cblr-2899	309	97	,	,	PUNCT
cblr-2899	309	98	and	and	CCONJ
cblr-2899	309	99	australia	australia	PROPN
cblr-2899	309	100	are	be	AUX
cblr-2899	309	101	equivalent	equivalent	ADJ
cblr-2899	309	102	to	to	ADP
cblr-2899	309	103	the	the	DET
cblr-2899	309	104	eu	eu	PROPN
cblr-2899	309	105	rules	rule	NOUN
cblr-2899	309	106	on	on	ADP
cblr-2899	309	107	credit	credit	NOUN
cblr-2899	309	108	rating	rating	NOUN
cblr-2899	309	109	agencies.87	agencies.87	NOUN
cblr-2899	309	110	these	these	DET
cblr-2899	309	111	equivalence	equivalence	NOUN
cblr-2899	309	112	decisions	decision	NOUN
cblr-2899	309	113	allow	allow	VERB
cblr-2899	309	114	smaller	small	ADJ
cblr-2899	309	115	cras	cra	NOUN
cblr-2899	309	116	in	in	ADP
cblr-2899	309	117	the	the	DET
cblr-2899	309	118	united	united	PROPN
cblr-2899	309	119	states	states	PROPN
cblr-2899	309	120	,	,	PUNCT
cblr-2899	309	121	canada	canada	PROPN
cblr-2899	309	122	,	,	PUNCT
cblr-2899	309	123	and	and	CCONJ
cblr-2899	309	124	australia	australia	PROPN
cblr-2899	309	125	to	to	PART
cblr-2899	309	126	apply	apply	VERB
cblr-2899	309	127	for	for	ADP
cblr-2899	309	128	certification	certification	NOUN
cblr-2899	309	129	in	in	ADP
cblr-2899	309	130	the	the	DET
cblr-2899	309	131	eu	eu	PROPN
cblr-2899	309	132	,	,	PUNCT
cblr-2899	309	133	with	with	ADP
cblr-2899	309	134	the	the	DET
cblr-2899	309	135	result	result	NOUN
cblr-2899	309	136	being	be	AUX
cblr-2899	309	137	that	that	SCONJ
cblr-2899	309	138	their	their	PRON
cblr-2899	309	139	ratings	rating	NOUN
cblr-2899	309	140	can	can	AUX
cblr-2899	309	141	be	be	AUX
cblr-2899	309	142	used	use	VERB
cblr-2899	309	143	by	by	ADP
cblr-2899	309	144	eu	eu	PROPN
cblr-2899	309	145	financial	financial	ADJ
cblr-2899	309	146	institutions	institution	NOUN
cblr-2899	309	147	for	for	ADP
cblr-2899	309	148	regulatory	regulatory	ADJ
cblr-2899	309	149	purposes	purpose	NOUN
cblr-2899	309	150	.	.	PUNCT
cblr-2899	310	1	c.	c.	NOUN
cblr-2899	310	2	similarities	similarity	NOUN
cblr-2899	310	3	and	and	CCONJ
cblr-2899	310	4	differences	difference	NOUN
cblr-2899	310	5	both	both	CCONJ
cblr-2899	310	6	the	the	DET
cblr-2899	310	7	united	united	PROPN
cblr-2899	310	8	states	states	PROPN
cblr-2899	310	9	and	and	CCONJ
cblr-2899	310	10	the	the	DET
cblr-2899	310	11	eu	eu	PROPN
cblr-2899	310	12	have	have	AUX
cblr-2899	310	13	moved	move	VERB
cblr-2899	310	14	from	from	ADP
cblr-2899	310	15	essentially	essentially	ADV
cblr-2899	310	16	no	no	DET
cblr-2899	310	17	regulation	regulation	NOUN
cblr-2899	310	18	to	to	ADP
cblr-2899	310	19	regulated	regulated	ADJ
cblr-2899	310	20	regimes	regime	NOUN
cblr-2899	310	21	,	,	PUNCT
cblr-2899	310	22	and	and	CCONJ
cblr-2899	310	23	there	there	PRON
cblr-2899	310	24	has	have	AUX
cblr-2899	310	25	been	be	AUX
cblr-2899	310	26	a	a	DET
cblr-2899	310	27	clear	clear	ADJ
cblr-2899	310	28	convergence	convergence	NOUN
cblr-2899	310	29	between	between	ADP
cblr-2899	310	30	the	the	DET
cblr-2899	310	31	two	two	NUM
cblr-2899	310	32	regimes.88	regimes.88	VERB
cblr-2899	310	33	the	the	DET
cblr-2899	310	34	approaches	approach	NOUN
cblr-2899	310	35	taken	take	VERB
cblr-2899	310	36	by	by	ADP
cblr-2899	310	37	each	each	DET
cblr-2899	310	38	overlap	overlap	NOUN
cblr-2899	310	39	in	in	ADP
cblr-2899	310	40	certain	certain	ADJ
cblr-2899	310	41	areas	area	NOUN
cblr-2899	310	42	,	,	PUNCT
cblr-2899	310	43	such	such	ADJ
cblr-2899	310	44	as	as	ADP
cblr-2899	310	45	barring	bar	VERB
cblr-2899	310	46	rating	rating	NOUN
cblr-2899	310	47	agencies	agency	NOUN
cblr-2899	310	48	from	from	ADP
cblr-2899	310	49	providing	provide	VERB
cblr-2899	310	50	consulting	consulting	NOUN
cblr-2899	310	51	or	or	CCONJ
cblr-2899	310	52	advisory	advisory	ADJ
cblr-2899	310	53	services	service	NOUN
cblr-2899	310	54	to	to	ADP
cblr-2899	310	55	clients	client	NOUN
cblr-2899	310	56	whose	whose	DET
cblr-2899	310	57	securities	security	NOUN
cblr-2899	310	58	they	they	PRON
cblr-2899	310	59	rate	rate	VERB
cblr-2899	310	60	,	,	PUNCT
cblr-2899	310	61	and	and	CCONJ
cblr-2899	310	62	requiring	require	VERB
cblr-2899	310	63	issuers	issuer	NOUN
cblr-2899	310	64	of	of	ADP
cblr-2899	310	65	structured	structured	ADJ
cblr-2899	310	66	finance	finance	NOUN
cblr-2899	310	67	products	product	NOUN
cblr-2899	310	68	to	to	ADP
cblr-2899	310	69	publicly	publicly	ADV
cblr-2899	310	70	85	85	NUM
cblr-2899	310	71	see	see	VERB
cblr-2899	310	72	generally	generally	ADV
cblr-2899	310	73	commission	commission	NOUN
cblr-2899	310	74	regulation	regulation	NOUN
cblr-2899	310	75	445/2012	445/2012	NUM
cblr-2899	310	76	,	,	PUNCT
cblr-2899	310	77	o.j	o.j	PROPN
cblr-2899	310	78	.	.	PUNCT
cblr-2899	311	1	(	(	PUNCT
cblr-2899	311	2	l	l	NOUN
cblr-2899	311	3	140	140	NUM
cblr-2899	311	4	)	)	SYM
cblr-2899	311	5	2	2	NUM
cblr-2899	311	6	(	(	PUNCT
cblr-2899	311	7	eu	eu	PROPN
cblr-2899	311	8	)	)	PUNCT
cblr-2899	311	9	,	,	PUNCT
cblr-2899	311	10	available	available	ADJ
cblr-2899	311	11	at	at	ADP
cblr-2899	311	12	http://eur-lex.europa.eullexuriserv/lexuriserv.do?uri	http://eur-lex.europa.eullexuriserv/lexuriserv.do?uri	PROPN
cblr-2899	311	13	=	=	NOUN
cblr-2899	311	14	0j	0j	NOUN
cblr-2899	311	15	:	:	PUNCT
cblr-2899	311	16	l:2012:140:0002:0013	l:2012:140:0002:0013	NOUN
cblr-2899	311	17	:	:	PUNCT
cblr-2899	311	18	en	en	ADJ
cblr-2899	311	19	:	:	PUNCT
cblr-2899	311	20	pdf	pdf	NOUN
cblr-2899	311	21	.	.	PUNCT
cblr-2899	311	22	86	86	NUM
cblr-2899	312	1	i	i	PRON
cblr-2899	312	2	d.	d.	PROPN
cblr-2899	312	3	8	8	PROPN
cblr-2899	312	4	commission	commission	PROPN
cblr-2899	312	5	implementing	implement	VERB
cblr-2899	312	6	decision	decision	NOUN
cblr-2899	312	7	on	on	ADP
cblr-2899	312	8	the	the	DET
cblr-2899	312	9	recognition	recognition	NOUN
cblr-2899	312	10	of	of	ADP
cblr-2899	312	11	the	the	DET
cblr-2899	312	12	legal	legal	ADJ
cblr-2899	312	13	and	and	CCONJ
cblr-2899	312	14	supervisory	supervisory	ADJ
cblr-2899	312	15	framework	framework	NOUN
cblr-2899	312	16	of	of	ADP
cblr-2899	312	17	the	the	DET
cblr-2899	312	18	united	united	PROPN
cblr-2899	312	19	states	states	PROPN
cblr-2899	312	20	of	of	ADP
cblr-2899	312	21	america	america	PROPN
cblr-2899	312	22	as	as	ADP
cblr-2899	312	23	equivalent	equivalent	ADJ
cblr-2899	312	24	to	to	ADP
cblr-2899	312	25	the	the	DET
cblr-2899	312	26	requirements	requirement	NOUN
cblr-2899	312	27	of	of	ADP
cblr-2899	312	28	regulation	regulation	NOUN
cblr-2899	312	29	,	,	PUNCT
cblr-2899	312	30	com	com	NOUN
cblr-2899	312	31	(	(	PUNCT
cblr-2899	312	32	2012	2012	NUM
cblr-2899	312	33	)	)	PUNCT
cblr-2899	312	34	(	(	PUNCT
cblr-2899	312	35	oct	oct	PROPN
cblr-2899	312	36	.	.	PROPN
cblr-2899	312	37	5	5	NUM
cblr-2899	312	38	,	,	PUNCT
cblr-2899	312	39	2012	2012	NUM
cblr-2899	312	40	)	)	PUNCT
cblr-2899	312	41	available	available	ADJ
cblr-2899	312	42	at	at	ADP
cblr-2899	312	43	http://ec.europa.eu/internalmarket/securities/docs/	http://ec.europa.eu/internalmarket/securities/docs/	PROPN
cblr-2899	312	44	agencies/20121005	agencies/20121005	PROPN
cblr-2899	312	45	-	-	PUNCT
cblr-2899	312	46	equiv	equiv	PROPN
cblr-2899	312	47	-	-	PUNCT
cblr-2899	312	48	usa	usa	PROPN
cblr-2899	312	49	en.pdf	en.pdf	PROPN
cblr-2899	312	50	.	.	PROPN
cblr-2899	312	51	88	88	NUM
cblr-2899	312	52	see	see	VERB
cblr-2899	312	53	piero	piero	PROPN
cblr-2899	312	54	cinquegrana	cinquegrana	PROPN
cblr-2899	312	55	,	,	PUNCT
cblr-2899	312	56	the	the	DET
cblr-2899	312	57	reform	reform	NOUN
cblr-2899	312	58	of	of	ADP
cblr-2899	312	59	the	the	DET
cblr-2899	312	60	credit	credit	NOUN
cblr-2899	312	61	rating	rating	NOUN
cblr-2899	312	62	agencies	agency	NOUN
cblr-2899	312	63	:	:	PUNCT
cblr-2899	312	64	a	a	DET
cblr-2899	312	65	comparative	comparative	ADJ
cblr-2899	312	66	perspective	perspective	NOUN
cblr-2899	312	67	8	8	NUM
cblr-2899	312	68	(	(	PUNCT
cblr-2899	312	69	eur	eur	NOUN
cblr-2899	312	70	.	.	PUNCT
cblr-2899	313	1	capital	capital	NOUN
cblr-2899	313	2	mkts	mkts	NOUN
cblr-2899	313	3	.	.	PUNCT
cblr-2899	314	1	inst	inst	PROPN
cblr-2899	314	2	.	.	PUNCT
cblr-2899	315	1	policy	policy	NOUN
cblr-2899	315	2	brief	brief	NOUN
cblr-2899	316	1	no	no	INTJ
cblr-2899	316	2	.	.	PROPN
cblr-2899	316	3	12	12	NUM
cblr-2899	316	4	,	,	PUNCT
cblr-2899	316	5	2009	2009	NUM
cblr-2899	316	6	)	)	PUNCT
cblr-2899	316	7	,	,	PUNCT
cblr-2899	316	8	available	available	ADJ
cblr-2899	316	9	at	at	ADP
cblr-2899	316	10	http://papers.ssrn.com/sol3/papers.cfm?abstractid=	http://papers.ssrn.com/sol3/papers.cfm?abstractid=	NOUN
cblr-2899	316	11	1489743	1489743	NUM
cblr-2899	316	12	.	.	PUNCT
cblr-2899	317	1	col	col	PROPN
cblr-2899	317	2	umia	umia	PROPN
cblr-2899	317	3	b	b	PROPN
cblr-2899	317	4	usiness	usiness	PROPN
cblr-2899	317	5	la	la	PROPN
cblr-2899	317	6	w	w	PROPN
cblr-2899	317	7	re	re	PROPN
cblr-2899	317	8	vie	vie	PROPN
cblr-2899	317	9	w	w	PROPN
cblr-2899	318	1	[	[	X
cblr-2899	318	2	vol	vol	NOUN
cblr-2899	318	3	.	.	PUNCT
cblr-2899	318	4	2012	2012	NUM
cblr-2899	318	5	1016	1016	NUM
cblr-2899	318	6	disclose	disclose	VERB
cblr-2899	318	7	the	the	DET
cblr-2899	318	8	information	information	NOUN
cblr-2899	318	9	they	they	PRON
cblr-2899	318	10	provide	provide	VERB
cblr-2899	318	11	to	to	ADP
cblr-2899	318	12	a	a	DET
cblr-2899	318	13	cra	cra	PROPN
cblr-2899	318	14	they	they	PRON
cblr-2899	318	15	hire	hire	VERB
cblr-2899	318	16	in	in	ADP
cblr-2899	318	17	order	order	NOUN
cblr-2899	318	18	to	to	PART
cblr-2899	318	19	encourage	encourage	VERB
cblr-2899	318	20	unsolicited	unsolicited	ADJ
cblr-2899	318	21	ratings	rating	NOUN
cblr-2899	318	22	by	by	ADP
cblr-2899	318	23	other	other	ADJ
cblr-2899	318	24	cras	cra	NOUN
cblr-2899	318	25	.	.	PUNCT
cblr-2899	319	1	9	9	NUM
cblr-2899	319	2	differences	difference	NOUN
cblr-2899	319	3	between	between	ADP
cblr-2899	319	4	the	the	DET
cblr-2899	319	5	regimes	regime	NOUN
cblr-2899	319	6	include	include	VERB
cblr-2899	319	7	a	a	DET
cblr-2899	319	8	heavier	heavy	ADJ
cblr-2899	319	9	reliance	reliance	NOUN
cblr-2899	319	10	on	on	ADP
cblr-2899	319	11	private	private	ADJ
cblr-2899	319	12	litigation	litigation	NOUN
cblr-2899	319	13	in	in	ADP
cblr-2899	319	14	the	the	DET
cblr-2899	319	15	united	united	PROPN
cblr-2899	319	16	states	states	PROPN
cblr-2899	319	17	to	to	PART
cblr-2899	319	18	deter	deter	VERB
cblr-2899	319	19	wrongdoing	wrongdoing	NOUN
cblr-2899	319	20	relative	relative	ADV
cblr-2899	319	21	to	to	ADP
cblr-2899	319	22	europe	europe	PROPN
cblr-2899	319	23	's	's	PART
cblr-2899	319	24	greater	great	ADJ
cblr-2899	319	25	reliance	reliance	NOUN
cblr-2899	319	26	on	on	ADP
cblr-2899	319	27	public	public	ADJ
cblr-2899	319	28	enforcement.90	enforcement.90	ADV
cblr-2899	319	29	the	the	DET
cblr-2899	319	30	esma	esma	PROPN
cblr-2899	319	31	also	also	ADV
cblr-2899	319	32	has	have	VERB
cblr-2899	319	33	marginally	marginally	ADV
cblr-2899	319	34	greater	great	ADJ
cblr-2899	319	35	authority	authority	NOUN
cblr-2899	319	36	than	than	ADP
cblr-2899	319	37	the	the	DET
cblr-2899	319	38	sec	sec	PROPN
cblr-2899	319	39	because	because	SCONJ
cblr-2899	319	40	it	it	PRON
cblr-2899	319	41	is	be	AUX
cblr-2899	319	42	empowered	empower	VERB
cblr-2899	319	43	to	to	PART
cblr-2899	319	44	evaluate	evaluate	VERB
cblr-2899	319	45	substantive	substantive	ADJ
cblr-2899	319	46	methodologies	methodology	NOUN
cblr-2899	319	47	and	and	CCONJ
cblr-2899	319	48	business	business	NOUN
cblr-2899	319	49	models	model	NOUN
cblr-2899	319	50	used	use	VERB
cblr-2899	319	51	by	by	ADP
cblr-2899	319	52	cras	cra	NOUN
cblr-2899	319	53	,	,	PUNCT
cblr-2899	319	54	while	while	SCONJ
cblr-2899	319	55	the	the	DET
cblr-2899	319	56	sec	sec	PROPN
cblr-2899	319	57	is	be	AUX
cblr-2899	319	58	prohibited	prohibit	VERB
cblr-2899	319	59	from	from	ADP
cblr-2899	319	60	interfering	interfere	VERB
cblr-2899	319	61	with	with	ADP
cblr-2899	319	62	the	the	DET
cblr-2899	319	63	content	content	NOUN
cblr-2899	319	64	and	and	CCONJ
cblr-2899	319	65	substantive	substantive	ADJ
cblr-2899	319	66	methodologies	methodology	NOUN
cblr-2899	319	67	of	of	ADP
cblr-2899	319	68	rating	rating	NOUN
cblr-2899	319	69	agencies.91	agencies.91	NOUN
cblr-2899	319	70	additionally	additionally	ADV
cblr-2899	319	71	,	,	PUNCT
cblr-2899	319	72	although	although	SCONJ
cblr-2899	319	73	europe	europe	PROPN
cblr-2899	319	74	has	have	AUX
cblr-2899	319	75	granted	grant	VERB
cblr-2899	319	76	cras	cras	PROPN
cblr-2899	319	77	some	some	DET
cblr-2899	319	78	de	de	X
cblr-2899	319	79	facto	facto	X
cblr-2899	319	80	regulatory	regulatory	ADJ
cblr-2899	319	81	power	power	NOUN
cblr-2899	319	82	(	(	PUNCT
cblr-2899	319	83	for	for	ADP
cblr-2899	319	84	example	example	NOUN
cblr-2899	319	85	,	,	PUNCT
cblr-2899	319	86	indirectly	indirectly	ADV
cblr-2899	319	87	through	through	ADP
cblr-2899	319	88	regulations	regulation	NOUN
cblr-2899	319	89	such	such	ADJ
cblr-2899	319	90	as	as	ADP
cblr-2899	319	91	basel	basel	PROPN
cblr-2899	319	92	ii	ii	PROPN
cblr-2899	319	93	)	)	PUNCT
cblr-2899	319	94	,	,	PUNCT
cblr-2899	319	95	ratings	rating	NOUN
cblr-2899	319	96	embedded	embed	VERB
cblr-2899	319	97	in	in	ADP
cblr-2899	319	98	regulation	regulation	NOUN
cblr-2899	319	99	are	be	AUX
cblr-2899	319	100	much	much	ADV
cblr-2899	319	101	less	less	ADV
cblr-2899	319	102	prevalent	prevalent	ADJ
cblr-2899	319	103	there	there	ADV
cblr-2899	319	104	than	than	SCONJ
cblr-2899	319	105	they	they	PRON
cblr-2899	319	106	are	be	AUX
cblr-2899	319	107	in	in	ADP
cblr-2899	319	108	the	the	DET
cblr-2899	319	109	united	united	PROPN
cblr-2899	319	110	states	states	PROPN
cblr-2899	319	111	and	and	CCONJ
cblr-2899	319	112	should	should	AUX
cblr-2899	319	113	be	be	AUX
cblr-2899	319	114	a	a	DET
cblr-2899	319	115	lesser	less	ADJ
cblr-2899	319	116	concern	concern	NOUN
cblr-2899	319	117	in	in	ADP
cblr-2899	319	118	europe	europe	PROPN
cblr-2899	319	119	.	.	PUNCT
cblr-2899	320	1	92	92	NUM
cblr-2899	320	2	noteworthy	noteworthy	ADJ
cblr-2899	320	3	political	political	ADJ
cblr-2899	320	4	tensions	tension	NOUN
cblr-2899	320	5	also	also	ADV
cblr-2899	320	6	affect	affect	VERB
cblr-2899	320	7	the	the	DET
cblr-2899	320	8	types	type	NOUN
cblr-2899	320	9	of	of	ADP
cblr-2899	320	10	solutions	solution	NOUN
cblr-2899	320	11	that	that	PRON
cblr-2899	320	12	have	have	AUX
cblr-2899	320	13	been	be	AUX
cblr-2899	320	14	considered	consider	VERB
cblr-2899	320	15	credible	credible	ADJ
cblr-2899	320	16	.	.	PUNCT
cblr-2899	321	1	the	the	DET
cblr-2899	321	2	eu	eu	PROPN
cblr-2899	321	3	is	be	AUX
cblr-2899	321	4	not	not	PART
cblr-2899	321	5	only	only	ADV
cblr-2899	321	6	weary	weary	ADJ
cblr-2899	321	7	of	of	ADP
cblr-2899	321	8	inflated	inflated	ADJ
cblr-2899	321	9	ratings	rating	NOUN
cblr-2899	321	10	but	but	CCONJ
cblr-2899	321	11	has	have	AUX
cblr-2899	321	12	also	also	ADV
cblr-2899	321	13	been	be	AUX
cblr-2899	321	14	highly	highly	ADV
cblr-2899	321	15	critical	critical	ADJ
cblr-2899	321	16	of	of	ADP
cblr-2899	321	17	the	the	DET
cblr-2899	321	18	recent	recent	ADJ
cblr-2899	321	19	downgrades	downgrade	NOUN
cblr-2899	321	20	cras	cra	NOUN
cblr-2899	321	21	have	have	AUX
cblr-2899	321	22	assigned	assign	VERB
cblr-2899	321	23	(	(	PUNCT
cblr-2899	321	24	and	and	CCONJ
cblr-2899	321	25	continue	continue	VERB
cblr-2899	321	26	to	to	PART
cblr-2899	321	27	assign	assign	VERB
cblr-2899	321	28	)	)	PUNCT
cblr-2899	321	29	sovereign	sovereign	ADJ
cblr-2899	321	30	and	and	CCONJ
cblr-2899	321	31	other	other	ADJ
cblr-2899	321	32	european	european	ADJ
cblr-2899	321	33	debt	debt	NOUN
cblr-2899	321	34	across	across	ADP
cblr-2899	321	35	europe.9	europe.9	PROPN
cblr-2899	321	36	3	3	NUM
cblr-2899	321	37	the	the	DET
cblr-2899	321	38	criticism	criticism	NOUN
cblr-2899	321	39	of	of	ADP
cblr-2899	321	40	the	the	DET
cblr-2899	321	41	ec	ec	PROPN
cblr-2899	321	42	has	have	AUX
cblr-2899	321	43	been	be	AUX
cblr-2899	321	44	that	that	SCONJ
cblr-2899	321	45	these	these	DET
cblr-2899	321	46	downgrades	downgrade	NOUN
cblr-2899	321	47	destabilize	destabilize	VERB
cblr-2899	321	48	the	the	DET
cblr-2899	321	49	markets	market	NOUN
cblr-2899	321	50	and	and	CCONJ
cblr-2899	321	51	disfavor	disfavor	NOUN
cblr-2899	321	52	politically	politically	ADV
cblr-2899	321	53	important	important	ADJ
cblr-2899	321	54	local	local	ADJ
cblr-2899	321	55	companies.94	companies.94	NOUN
cblr-2899	321	56	in	in	ADP
cblr-2899	321	57	light	light	NOUN
cblr-2899	321	58	of	of	ADP
cblr-2899	321	59	these	these	DET
cblr-2899	321	60	concerns	concern	NOUN
cblr-2899	321	61	,	,	PUNCT
cblr-2899	321	62	the	the	DET
cblr-2899	321	63	idea	idea	NOUN
cblr-2899	321	64	of	of	ADP
cblr-2899	321	65	creating	create	VERB
cblr-2899	321	66	a	a	DET
cblr-2899	321	67	government	government	NOUN
cblr-2899	321	68	-	-	PUNCT
cblr-2899	321	69	sponsored	sponsor	VERB
cblr-2899	321	70	european	european	ADJ
cblr-2899	321	71	rating	rating	NOUN
cblr-2899	321	72	agency	agency	NOUN
cblr-2899	321	73	to	to	PART
cblr-2899	321	74	compete	compete	VERB
cblr-2899	321	75	with	with	ADP
cblr-2899	321	76	the	the	DET
cblr-2899	321	77	"	"	PUNCT
cblr-2899	321	78	big	big	ADJ
cblr-2899	321	79	three	three	NUM
cblr-2899	321	80	"	"	PUNCT
cblr-2899	321	81	(	(	PUNCT
cblr-2899	321	82	moody	moody	NOUN
cblr-2899	321	83	's	's	PART
cblr-2899	321	84	,	,	PUNCT
cblr-2899	321	85	s&p	s&p	PROPN
cblr-2899	321	86	,	,	PUNCT
cblr-2899	321	87	and	and	CCONJ
cblr-2899	321	88	89	89	NUM
cblr-2899	321	89	see	see	VERB
cblr-2899	321	90	coffee	coffee	NOUN
cblr-2899	321	91	,	,	PUNCT
cblr-2899	321	92	supra	supra	PROPN
cblr-2899	321	93	note	note	NOUN
cblr-2899	321	94	33	33	NUM
cblr-2899	321	95	,	,	PUNCT
cblr-2899	321	96	at	at	ADP
cblr-2899	321	97	250	250	NUM
cblr-2899	321	98	-	-	SYM
cblr-2899	321	99	51	51	NUM
cblr-2899	321	100	;	;	PUNCT
cblr-2899	321	101	see	see	VERB
cblr-2899	321	102	also	also	ADV
cblr-2899	321	103	lannoo	lannoo	VERB
cblr-2899	321	104	,	,	PUNCT
cblr-2899	321	105	supra	supra	PROPN
cblr-2899	321	106	note	note	PROPN
cblr-2899	321	107	37	37	NUM
cblr-2899	321	108	,	,	PUNCT
cblr-2899	321	109	at	at	ADP
cblr-2899	321	110	72	72	NUM
cblr-2899	321	111	.	.	PUNCT
cblr-2899	322	1	90	90	NUM
cblr-2899	323	1	i	i	PRON
cblr-2899	323	2	d.	d.	PROPN
cblr-2899	323	3	at	at	ADP
cblr-2899	323	4	235	235	NUM
cblr-2899	323	5	.	.	PUNCT
cblr-2899	323	6	91	91	NUM
cblr-2899	324	1	i	i	PRON
cblr-2899	324	2	d.	d.	PROPN
cblr-2899	324	3	at	at	ADP
cblr-2899	324	4	250	250	NUM
cblr-2899	324	5	.	.	PUNCT
cblr-2899	325	1	92	92	NUM
cblr-2899	325	2	see	see	VERB
cblr-2899	325	3	i	i	PRON
cblr-2899	325	4	d.	d.	PROPN
cblr-2899	325	5	at	at	ADP
cblr-2899	325	6	235	235	NUM
cblr-2899	325	7	.	.	PUNCT
cblr-2899	326	1	93	93	NUM
cblr-2899	326	2	see	see	VERB
cblr-2899	326	3	,	,	PUNCT
cblr-2899	326	4	e.g.	e.g.	ADV
cblr-2899	326	5	,	,	PUNCT
cblr-2899	326	6	liz	liz	PROPN
cblr-2899	326	7	alderman	alderman	PROPN
cblr-2899	326	8	&	&	CCONJ
cblr-2899	326	9	rachel	rachel	PROPN
cblr-2899	326	10	donadio	donadio	PROPN
cblr-2899	326	11	,	,	PUNCT
cblr-2899	326	12	downgrade	downgrade	NOUN
cblr-2899	326	13	of	of	ADP
cblr-2899	326	14	debt	debt	NOUN
cblr-2899	326	15	ratings	rating	NOUN
cblr-2899	326	16	underscores	underscore	VERB
cblr-2899	326	17	europe	europe	PROPN
cblr-2899	326	18	's	's	PART
cblr-2899	326	19	woes	woe	NOUN
cblr-2899	326	20	,	,	PUNCT
cblr-2899	326	21	n.y	n.y	PROPN
cblr-2899	326	22	.	.	PROPN
cblr-2899	326	23	times	times	PROPN
cblr-2899	326	24	,	,	PUNCT
cblr-2899	326	25	jan	jan	PROPN
cblr-2899	326	26	.	.	PROPN
cblr-2899	326	27	14	14	NUM
cblr-2899	326	28	,	,	PUNCT
cblr-2899	326	29	2012	2012	NUM
cblr-2899	326	30	,	,	PUNCT
cblr-2899	326	31	at	at	ADP
cblr-2899	326	32	al	al	PROPN
cblr-2899	326	33	;	;	PUNCT
cblr-2899	326	34	see	see	VERB
cblr-2899	326	35	also	also	ADV
cblr-2899	326	36	spain	spain	PROPN
cblr-2899	326	37	credit	credit	NOUN
cblr-2899	326	38	rating	rating	NOUN
cblr-2899	326	39	slashed	slash	VERB
cblr-2899	326	40	by	by	ADP
cblr-2899	326	41	moody	moody	PROPN
cblr-2899	326	42	's	's	PART
cblr-2899	326	43	,	,	PUNCT
cblr-2899	326	44	egan	egan	PROPN
cblr-2899	326	45	-	-	PUNCT
cblr-2899	326	46	jones	jones	PROPN
cblr-2899	326	47	,	,	PUNCT
cblr-2899	326	48	cnbc	cnbc	PROPN
cblr-2899	326	49	,	,	PUNCT
cblr-2899	326	50	(	(	PUNCT
cblr-2899	326	51	june	june	PROPN
cblr-2899	326	52	13	13	NUM
cblr-2899	326	53	,	,	PUNCT
cblr-2899	326	54	2012	2012	NUM
cblr-2899	326	55	,	,	PUNCT
cblr-2899	326	56	5:21pm	5:21pm	NUM
cblr-2899	326	57	)	)	PUNCT
cblr-2899	326	58	,	,	PUNCT
cblr-2899	326	59	www.cnbc.com/id/47802891/spain-credit	www.cnbc.com/id/47802891/spain-credit	NOUN
cblr-2899	326	60	rating	rating	NOUN
cblr-2899	326	61	slashedbymoody	slashedbymoody	NOUN
cblr-2899	326	62	-	-	PUNCT
cblr-2899	326	63	seganjones	seganjone	NOUN
cblr-2899	326	64	(	(	PUNCT
cblr-2899	326	65	noting	note	VERB
cblr-2899	326	66	that	that	SCONJ
cblr-2899	326	67	even	even	ADV
cblr-2899	326	68	egan	egan	PROPN
cblr-2899	326	69	-	-	PUNCT
cblr-2899	326	70	jones	jones	PROPN
cblr-2899	326	71	,	,	PUNCT
cblr-2899	326	72	one	one	NUM
cblr-2899	326	73	of	of	ADP
cblr-2899	326	74	the	the	DET
cblr-2899	326	75	few	few	ADJ
cblr-2899	326	76	nrsros	nrsro	NOUN
cblr-2899	326	77	that	that	PRON
cblr-2899	326	78	operate	operate	VERB
cblr-2899	326	79	under	under	ADP
cblr-2899	326	80	a	a	DET
cblr-2899	326	81	investors	investor	NOUN
cblr-2899	326	82	-	-	PUNCT
cblr-2899	326	83	pay	pay	NOUN
cblr-2899	326	84	model	model	NOUN
cblr-2899	326	85	,	,	PUNCT
cblr-2899	326	86	recently	recently	ADV
cblr-2899	326	87	downgraded	downgrade	VERB
cblr-2899	326	88	spain	spain	PROPN
cblr-2899	326	89	's	's	PART
cblr-2899	326	90	credit	credit	NOUN
cblr-2899	326	91	rating	rating	NOUN
cblr-2899	326	92	)	)	PUNCT
cblr-2899	326	93	.	.	PUNCT
cblr-2899	327	1	94	94	NUM
cblr-2899	327	2	see	see	VERB
cblr-2899	327	3	peter	peter	PROPN
cblr-2899	327	4	spiegel	spiegel	PROPN
cblr-2899	327	5	&	&	CCONJ
cblr-2899	327	6	david	david	PROPN
cblr-2899	327	7	oakley	oakley	PROPN
cblr-2899	327	8	,	,	PUNCT
cblr-2899	327	9	europe	europe	PROPN
cblr-2899	327	10	lashes	lash	VERB
cblr-2899	327	11	out	out	ADP
cblr-2899	327	12	over	over	ADP
cblr-2899	327	13	downgrades	downgrade	NOUN
cblr-2899	327	14	,	,	PUNCT
cblr-2899	327	15	fin	fin	NOUN
cblr-2899	327	16	.	.	PUNCT
cblr-2899	327	17	times	times	PROPN
cblr-2899	327	18	(	(	PUNCT
cblr-2899	327	19	july	july	PROPN
cblr-2899	327	20	6	6	NUM
cblr-2899	327	21	,	,	PUNCT
cblr-2899	327	22	2011	2011	NUM
cblr-2899	327	23	5:57pm	5:57pm	NUM
cblr-2899	327	24	)	)	PUNCT
cblr-2899	327	25	,	,	PUNCT
cblr-2899	327	26	www.ft.com/intl/cms/s/o/	www.ft.com/intl/cms/s/o/	PROPN
cblr-2899	327	27	23a44f2a-a7ee-1leo-afc2-00144feabdco.html#axzzlfg4zehzc	23a44f2a-a7ee-1leo-afc2-00144feabdco.html#axzzlfg4zehzc	NUM
cblr-2899	327	28	.	.	PUNCT
cblr-2899	328	1	reg	reg	PROPN
cblr-2899	328	2	ula	ula	PROPN
cblr-2899	328	3	ting	ting	PROPN
cblr-2899	328	4	credit	credit	PROPN
cblr-2899	328	5	ra	ra	PROPN
cblr-2899	328	6	ting	ting	PROPN
cblr-2899	328	7	agencies	agencies	PROPN
cblr-2899	328	8	1017no	1017no	PROPN
cblr-2899	328	9	.	.	PUNCT
cblr-2899	329	1	3:994]1	3:994]1	NUM
cblr-2899	329	2	fitch	fitch	NOUN
cblr-2899	329	3	)	)	PUNCT
cblr-2899	329	4	gained	gain	VERB
cblr-2899	329	5	momentum	momentum	NOUN
cblr-2899	329	6	in	in	ADP
cblr-2899	329	7	europe	europe	PROPN
cblr-2899	329	8	-	-	PUNCT
cblr-2899	329	9	an	an	DET
cblr-2899	329	10	idea	idea	NOUN
cblr-2899	329	11	not	not	PART
cblr-2899	329	12	seriously	seriously	ADV
cblr-2899	329	13	considered	consider	VERB
cblr-2899	329	14	in	in	ADP
cblr-2899	329	15	the	the	DET
cblr-2899	329	16	united	united	PROPN
cblr-2899	329	17	states	states	PROPN
cblr-2899	329	18	.	.	PUNCT
cblr-2899	329	19	"	"	PUNCT
cblr-2899	330	1	v.	v.	CCONJ
cblr-2899	330	2	the	the	DET
cblr-2899	330	3	conflict	conflict	NOUN
cblr-2899	330	4	of	of	ADP
cblr-2899	330	5	interest	interest	NOUN
cblr-2899	330	6	problem	problem	NOUN
cblr-2899	330	7	and	and	CCONJ
cblr-2899	330	8	the	the	DET
cblr-2899	330	9	franken	franken	PROPN
cblr-2899	330	10	proposal	proposal	NOUN
cblr-2899	330	11	today	today	NOUN
cblr-2899	330	12	,	,	PUNCT
cblr-2899	330	13	the	the	DET
cblr-2899	330	14	public	public	NOUN
cblr-2899	330	15	has	have	AUX
cblr-2899	330	16	increasingly	increasingly	ADV
cblr-2899	330	17	recognized	recognize	VERB
cblr-2899	330	18	the	the	DET
cblr-2899	330	19	gravity	gravity	NOUN
cblr-2899	330	20	of	of	ADP
cblr-2899	330	21	the	the	DET
cblr-2899	330	22	conflict	conflict	NOUN
cblr-2899	330	23	of	of	ADP
cblr-2899	330	24	interest	interest	NOUN
cblr-2899	330	25	problem	problem	NOUN
cblr-2899	330	26	that	that	SCONJ
cblr-2899	330	27	cras	cras	PROPN
cblr-2899	330	28	face	face	VERB
cblr-2899	330	29	.	.	PUNCT
cblr-2899	331	1	a	a	DET
cblr-2899	331	2	google	google	PROPN
cblr-2899	331	3	search	search	NOUN
cblr-2899	331	4	on	on	ADP
cblr-2899	331	5	november	november	PROPN
cblr-2899	331	6	29	29	NUM
cblr-2899	331	7	,	,	PUNCT
cblr-2899	331	8	2012	2012	NUM
cblr-2899	331	9	for	for	ADP
cblr-2899	331	10	"	"	PUNCT
cblr-2899	331	11	rating	rating	NOUN
cblr-2899	331	12	agency	agency	NOUN
cblr-2899	331	13	conflict	conflict	NOUN
cblr-2899	331	14	of	of	ADP
cblr-2899	331	15	interest	interest	NOUN
cblr-2899	331	16	"	"	PUNCT
cblr-2899	331	17	yielded	yield	VERB
cblr-2899	331	18	1,530,000	1,530,000	NUM
cblr-2899	331	19	hits	hit	NOUN
cblr-2899	331	20	-	-	PUNCT
cblr-2899	331	21	a	a	DET
cblr-2899	331	22	huge	huge	ADJ
cblr-2899	331	23	increase	increase	NOUN
cblr-2899	331	24	from	from	ADP
cblr-2899	331	25	the	the	DET
cblr-2899	331	26	688,000	688,000	NUM
cblr-2899	331	27	hits	hit	NOUN
cblr-2899	331	28	yielded	yield	VERB
cblr-2899	331	29	on	on	ADP
cblr-2899	331	30	april	april	PROPN
cblr-2899	331	31	11	11	NUM
cblr-2899	331	32	,	,	PUNCT
cblr-2899	331	33	2011	2011	NUM
cblr-2899	331	34	and	and	CCONJ
cblr-2899	331	35	the	the	DET
cblr-2899	331	36	274,000	274,000	NUM
cblr-2899	331	37	hits	hit	NOUN
cblr-2899	331	38	yielded	yield	VERB
cblr-2899	331	39	in	in	ADP
cblr-2899	331	40	2010	2010	NUM
cblr-2899	331	41	-	-	PUNCT
cblr-2899	331	42	suggesting	suggest	VERB
cblr-2899	331	43	a	a	DET
cblr-2899	331	44	growing	grow	VERB
cblr-2899	331	45	public	public	ADJ
cblr-2899	331	46	awareness	awareness	NOUN
cblr-2899	331	47	of	of	ADP
cblr-2899	331	48	the	the	DET
cblr-2899	331	49	issue	issue	NOUN
cblr-2899	331	50	.	.	PUNCT
cblr-2899	332	1	william	william	PROPN
cblr-2899	332	2	harrington	harrington	PROPN
cblr-2899	332	3	,	,	PUNCT
cblr-2899	332	4	a	a	DET
cblr-2899	332	5	former	former	ADJ
cblr-2899	332	6	senior	senior	ADJ
cblr-2899	332	7	vice	vice	NOUN
cblr-2899	332	8	president	president	NOUN
cblr-2899	332	9	at	at	ADP
cblr-2899	332	10	moody	moody	PROPN
cblr-2899	332	11	's	's	PART
cblr-2899	332	12	,	,	PUNCT
cblr-2899	332	13	stated	state	VERB
cblr-2899	332	14	in	in	ADP
cblr-2899	332	15	a	a	DET
cblr-2899	332	16	filing	filing	NOUN
cblr-2899	332	17	to	to	ADP
cblr-2899	332	18	the	the	DET
cblr-2899	332	19	sec	sec	PROPN
cblr-2899	332	20	,	,	PUNCT
cblr-2899	332	21	"	"	PUNCT
cblr-2899	332	22	the	the	DET
cblr-2899	332	23	salient	salient	NOUN
cblr-2899	332	24	.	.	PUNCT
cblr-2899	332	25	.	.	PUNCT
cblr-2899	332	26	.	.	PUNCT
cblr-2899	333	1	conflict	conflict	NOUN
cblr-2899	333	2	of	of	ADP
cblr-2899	333	3	interest	interest	NOUN
cblr-2899	333	4	permeates	permeate	VERB
cblr-2899	333	5	all	all	DET
cblr-2899	333	6	levels	level	NOUN
cblr-2899	333	7	of	of	ADP
cblr-2899	333	8	employment	employment	NOUN
cblr-2899	333	9	,	,	PUNCT
cblr-2899	333	10	from	from	ADP
cblr-2899	333	11	entry	entry	NOUN
cblr-2899	333	12	-	-	PUNCT
cblr-2899	333	13	level	level	NOUN
cblr-2899	333	14	analysts	analyst	NOUN
cblr-2899	333	15	to	to	ADP
cblr-2899	333	16	the	the	DET
cblr-2899	333	17	chairman	chairman	NOUN
cblr-2899	333	18	and	and	CCONJ
cblr-2899	333	19	chief	chief	ADJ
cblr-2899	333	20	executive	executive	ADJ
cblr-2899	333	21	officer	officer	NOUN
cblr-2899	333	22	of	of	ADP
cblr-2899	333	23	moody	moody	PROPN
cblr-2899	333	24	's	's	PART
cblr-2899	333	25	corporation	corporation	NOUN
cblr-2899	333	26	.	.	PUNCT
cblr-2899	333	27	"	"	PUNCT
cblr-2899	334	1	however	however	ADV
cblr-2899	334	2	,	,	PUNCT
cblr-2899	334	3	even	even	ADV
cblr-2899	334	4	with	with	ADP
cblr-2899	334	5	the	the	DET
cblr-2899	334	6	new	new	ADJ
cblr-2899	334	7	wave	wave	NOUN
cblr-2899	334	8	of	of	ADP
cblr-2899	334	9	regulations	regulation	NOUN
cblr-2899	334	10	,	,	PUNCT
cblr-2899	334	11	neither	neither	CCONJ
cblr-2899	334	12	the	the	DET
cblr-2899	334	13	united	united	PROPN
cblr-2899	334	14	states	states	PROPN
cblr-2899	334	15	nor	nor	CCONJ
cblr-2899	334	16	europe	europe	PROPN
cblr-2899	334	17	has	have	AUX
cblr-2899	334	18	sufficiently	sufficiently	ADV
cblr-2899	334	19	addressed	address	VERB
cblr-2899	334	20	the	the	DET
cblr-2899	334	21	conflict	conflict	NOUN
cblr-2899	334	22	of	of	ADP
cblr-2899	334	23	interest	interest	NOUN
cblr-2899	334	24	concerns	concern	NOUN
cblr-2899	334	25	of	of	ADP
cblr-2899	334	26	the	the	DET
cblr-2899	334	27	issuer	issuer	NOUN
cblr-2899	334	28	-	-	PUNCT
cblr-2899	334	29	pays	pay	VERB
cblr-2899	334	30	business	business	NOUN
cblr-2899	334	31	model	model	NOUN
cblr-2899	334	32	.	.	PUNCT
cblr-2899	335	1	one	one	NUM
cblr-2899	335	2	way	way	NOUN
cblr-2899	335	3	to	to	PART
cblr-2899	335	4	deal	deal	VERB
cblr-2899	335	5	with	with	ADP
cblr-2899	335	6	the	the	DET
cblr-2899	335	7	conflict	conflict	NOUN
cblr-2899	335	8	of	of	ADP
cblr-2899	335	9	interest	interest	NOUN
cblr-2899	335	10	problem	problem	NOUN
cblr-2899	335	11	is	be	AUX
cblr-2899	335	12	the	the	DET
cblr-2899	335	13	so	so	ADV
cblr-2899	335	14	-	-	PUNCT
cblr-2899	335	15	called	call	VERB
cblr-2899	335	16	"	"	PUNCT
cblr-2899	335	17	franken	franken	NOUN
cblr-2899	335	18	proposal	proposal	NOUN
cblr-2899	335	19	,	,	PUNCT
cblr-2899	335	20	"	"	PUNCT
cblr-2899	335	21	which	which	PRON
cblr-2899	335	22	mandates	mandate	VERB
cblr-2899	335	23	the	the	DET
cblr-2899	335	24	creation	creation	NOUN
cblr-2899	335	25	of	of	ADP
cblr-2899	335	26	a	a	DET
cblr-2899	335	27	credit	credit	NOUN
cblr-2899	335	28	rating	rating	NOUN
cblr-2899	335	29	agency	agency	NOUN
cblr-2899	335	30	review	review	NOUN
cblr-2899	335	31	board	board	NOUN
cblr-2899	335	32	(	(	PUNCT
cblr-2899	335	33	the	the	DET
cblr-2899	335	34	"	"	PUNCT
cblr-2899	335	35	board	board	NOUN
cblr-2899	335	36	"	"	PUNCT
cblr-2899	335	37	)	)	PUNCT
cblr-2899	335	38	under	under	ADP
cblr-2899	335	39	the	the	DET
cblr-2899	335	40	sec	sec	PROPN
cblr-2899	335	41	.	.	PUNCT
cblr-2899	336	1	the	the	DET
cblr-2899	336	2	board	board	NOUN
cblr-2899	336	3	would	would	AUX
cblr-2899	336	4	assign	assign	VERB
cblr-2899	336	5	an	an	DET
cblr-2899	336	6	issuer	issuer	NOUN
cblr-2899	336	7	of	of	ADP
cblr-2899	336	8	structured	structured	ADJ
cblr-2899	336	9	debt	debt	NOUN
cblr-2899	336	10	securities	security	NOUN
cblr-2899	336	11	to	to	ADP
cblr-2899	336	12	an	an	DET
cblr-2899	336	13	nrsro	nrsro	NOUN
cblr-2899	336	14	and	and	CCONJ
cblr-2899	336	15	would	would	AUX
cblr-2899	336	16	require	require	VERB
cblr-2899	336	17	that	that	DET
cblr-2899	336	18	issuer	issuer	NOUN
cblr-2899	336	19	to	to	PART
cblr-2899	336	20	receive	receive	VERB
cblr-2899	336	21	a	a	DET
cblr-2899	336	22	rating	rating	NOUN
cblr-2899	336	23	for	for	ADP
cblr-2899	336	24	a	a	DET
cblr-2899	336	25	"	"	PUNCT
cblr-2899	336	26	reasonable	reasonable	ADJ
cblr-2899	336	27	"	"	PUNCT
cblr-2899	336	28	fee	fee	NOUN
cblr-2899	336	29	from	from	ADP
cblr-2899	336	30	the	the	DET
cblr-2899	336	31	specified	specify	VERB
cblr-2899	336	32	nrsro	nrsro	ADJ
cblr-2899	336	33	before	before	SCONJ
cblr-2899	336	34	it	it	PRON
cblr-2899	336	35	could	could	AUX
cblr-2899	336	36	solicit	solicit	VERB
cblr-2899	336	37	any	any	DET
cblr-2899	336	38	other	other	ADJ
cblr-2899	336	39	nrsro	nrsro	NOUN
cblr-2899	336	40	for	for	ADP
cblr-2899	336	41	9	9	NUM
cblr-2899	336	42	see	see	NOUN
cblr-2899	336	43	maria	maria	PROPN
cblr-2899	336	44	sheahan	sheahan	PROPN
cblr-2899	336	45	&	&	CCONJ
cblr-2899	336	46	kathrin	kathrin	PROPN
cblr-2899	336	47	jones	jones	PROPN
cblr-2899	336	48	,	,	PUNCT
cblr-2899	336	49	europe	europe	PROPN
cblr-2899	336	50	rating	rating	NOUN
cblr-2899	336	51	agency	agency	NOUN
cblr-2899	336	52	would	would	AUX
cblr-2899	336	53	cost	cost	VERB
cblr-2899	336	54	300	300	NUM
cblr-2899	336	55	million	million	NUM
cblr-2899	336	56	euros	euro	NOUN
cblr-2899	336	57	,	,	PUNCT
cblr-2899	336	58	reuters	reuter	NOUN
cblr-2899	336	59	,	,	PUNCT
cblr-2899	336	60	july	july	PROPN
cblr-2899	336	61	18	18	NUM
cblr-2899	336	62	,	,	PUNCT
cblr-2899	336	63	2011	2011	NUM
cblr-2899	336	64	,	,	PUNCT
cblr-2899	336	65	available	available	ADJ
cblr-2899	336	66	at	at	ADP
cblr-2899	336	67	www.reuters.com/article/2011/07/18/us-ratings-idustre76h29r201	www.reuters.com/article/2011/07/18/us-ratings-idustre76h29r201	NOUN
cblr-2899	336	68	10	10	NUM
cblr-2899	336	69	718	718	NUM
cblr-2899	336	70	;	;	PUNCT
cblr-2899	336	71	see	see	VERB
cblr-2899	336	72	also	also	ADV
cblr-2899	336	73	ec	ec	PROPN
cblr-2899	336	74	proposal	proposal	NOUN
cblr-2899	336	75	,	,	PUNCT
cblr-2899	336	76	supra	supra	PROPN
cblr-2899	336	77	note	note	PROPN
cblr-2899	336	78	82	82	NUM
cblr-2899	336	79	,	,	PUNCT
cblr-2899	336	80	at	at	ADP
cblr-2899	336	81	11	11	NUM
cblr-2899	336	82	(	(	PUNCT
cblr-2899	336	83	discussing	discuss	VERB
cblr-2899	336	84	the	the	DET
cblr-2899	336	85	pros	pro	NOUN
cblr-2899	336	86	and	and	CCONJ
cblr-2899	336	87	cons	con	NOUN
cblr-2899	336	88	of	of	ADP
cblr-2899	336	89	a	a	DET
cblr-2899	336	90	european	european	ADJ
cblr-2899	336	91	rating	rating	NOUN
cblr-2899	336	92	agency	agency	NOUN
cblr-2899	336	93	,	,	PUNCT
cblr-2899	336	94	but	but	CCONJ
cblr-2899	336	95	explicitly	explicitly	ADV
cblr-2899	336	96	providing	provide	VERB
cblr-2899	336	97	that	that	SCONJ
cblr-2899	336	98	the	the	DET
cblr-2899	336	99	proposal	proposal	NOUN
cblr-2899	336	100	does	do	AUX
cblr-2899	336	101	not	not	PART
cblr-2899	336	102	aim	aim	VERB
cblr-2899	336	103	to	to	PART
cblr-2899	336	104	set	set	VERB
cblr-2899	336	105	up	up	ADP
cblr-2899	336	106	such	such	DET
cblr-2899	336	107	an	an	DET
cblr-2899	336	108	agency	agency	NOUN
cblr-2899	336	109	for	for	ADP
cblr-2899	336	110	the	the	DET
cblr-2899	336	111	time	time	NOUN
cblr-2899	336	112	being	being	NOUN
cblr-2899	336	113	)	)	PUNCT
cblr-2899	336	114	.	.	PUNCT
cblr-2899	337	1	96	96	NUM
cblr-2899	337	2	search	search	NOUN
cblr-2899	337	3	results	result	NOUN
cblr-2899	337	4	for	for	ADP
cblr-2899	337	5	"	"	PUNCT
cblr-2899	337	6	rating	rating	NOUN
cblr-2899	337	7	agency	agency	NOUN
cblr-2899	337	8	conflict	conflict	NOUN
cblr-2899	337	9	of	of	ADP
cblr-2899	337	10	interest	interest	NOUN
cblr-2899	337	11	,	,	PUNCT
cblr-2899	337	12	"	"	PUNCT
cblr-2899	337	13	google	google	NOUN
cblr-2899	337	14	,	,	PUNCT
cblr-2899	337	15	www.google.com	www.google.com	X
cblr-2899	337	16	(	(	PUNCT
cblr-2899	337	17	last	last	ADV
cblr-2899	337	18	visited	visit	VERB
cblr-2899	337	19	dec	dec	PROPN
cblr-2899	337	20	.	.	PROPN
cblr-2899	337	21	19	19	NUM
cblr-2899	337	22	,	,	PUNCT
cblr-2899	337	23	2012	2012	NUM
cblr-2899	337	24	)	)	PUNCT
cblr-2899	337	25	;	;	PUNCT
cblr-2899	337	26	see	see	VERB
cblr-2899	337	27	also	also	ADV
cblr-2899	337	28	claire	claire	PROPN
cblr-2899	337	29	a.	a.	PROPN
cblr-2899	337	30	hill	hill	PROPN
cblr-2899	337	31	,	,	PUNCT
cblr-2899	337	32	limits	limit	NOUN
cblr-2899	337	33	of	of	ADP
cblr-2899	337	34	dodd	dodd	PROPN
cblr-2899	337	35	-	-	PUNCT
cblr-2899	337	36	frank	frank	PROPN
cblr-2899	337	37	's	's	PART
cblr-2899	337	38	rating	rating	NOUN
cblr-2899	337	39	agency	agency	NOUN
cblr-2899	337	40	reform	reform	NOUN
cblr-2899	337	41	,	,	PUNCT
cblr-2899	337	42	15	15	NUM
cblr-2899	337	43	chap	chap	NOUN
cblr-2899	337	44	.	.	PUNCT
cblr-2899	338	1	l.	l.	PROPN
cblr-2899	338	2	rev	rev	PROPN
cblr-2899	338	3	.	.	PROPN
cblr-2899	338	4	133	133	NUM
cblr-2899	338	5	,	,	PUNCT
cblr-2899	338	6	136	136	NUM
cblr-2899	338	7	(	(	PUNCT
cblr-2899	338	8	2010	2010	NUM
cblr-2899	338	9	)	)	PUNCT
cblr-2899	338	10	(	(	PUNCT
cblr-2899	338	11	showing	show	VERB
cblr-2899	338	12	that	that	DET
cblr-2899	338	13	search	search	NOUN
cblr-2899	338	14	on	on	ADP
cblr-2899	338	15	google	google	NOUN
cblr-2899	338	16	for	for	ADP
cblr-2899	338	17	"	"	PUNCT
cblr-2899	338	18	rating	rating	NOUN
cblr-2899	338	19	agency	agency	NOUN
cblr-2899	338	20	conflict	conflict	NOUN
cblr-2899	338	21	of	of	ADP
cblr-2899	338	22	interest	interest	NOUN
cblr-2899	338	23	"	"	PUNCT
cblr-2899	338	24	yielded	yield	VERB
cblr-2899	338	25	approximately	approximately	ADV
cblr-2899	338	26	688,000	688,000	NUM
cblr-2899	338	27	results	result	NOUN
cblr-2899	338	28	in	in	ADP
cblr-2899	338	29	april	april	PROPN
cblr-2899	338	30	2011	2011	NUM
cblr-2899	338	31	)	)	PUNCT
cblr-2899	338	32	.	.	PUNCT
cblr-2899	339	1	9	9	NUM
cblr-2899	339	2	comment	comment	NOUN
cblr-2899	339	3	letter	letter	NOUN
cblr-2899	339	4	from	from	ADP
cblr-2899	339	5	william	william	PROPN
cblr-2899	339	6	j.	j.	PROPN
cblr-2899	339	7	harrington	harrington	PROPN
cblr-2899	339	8	to	to	ADP
cblr-2899	339	9	sec	sec	PROPN
cblr-2899	339	10	10	10	NUM
cblr-2899	339	11	(	(	PUNCT
cblr-2899	339	12	aug	aug	PROPN
cblr-2899	339	13	.	.	PROPN
cblr-2899	339	14	8	8	NUM
cblr-2899	339	15	,	,	PUNCT
cblr-2899	339	16	2011	2011	NUM
cblr-2899	339	17	)	)	PUNCT
cblr-2899	339	18	,	,	PUNCT
cblr-2899	339	19	www.sec.gov/comments/s7-18-11/s71811-33.pdf	www.sec.gov/comments/s7-18-11/s71811-33.pdf	PROPN
cblr-2899	339	20	.	.	PROPN
cblr-2899	339	21	1018	1018	NUM
cblr-2899	339	22	columbia	columbia	PROPN
cblr-2899	339	23	b	b	PROPN
cblr-2899	339	24	usiness	usiness	PROPN
cblr-2899	339	25	la	la	PROPN
cblr-2899	339	26	w	w	PROPN
cblr-2899	339	27	re	re	PROPN
cblr-2899	339	28	vie	vie	PROPN
cblr-2899	339	29	w	w	PROPN
cblr-2899	340	1	[	[	X
cblr-2899	340	2	vol	vol	NOUN
cblr-2899	340	3	.	.	PUNCT
cblr-2899	340	4	2012	2012	NUM
cblr-2899	340	5	additional	additional	ADJ
cblr-2899	340	6	ratings.98	ratings.98	NOUN
cblr-2899	340	7	pursuant	pursuant	NOUN
cblr-2899	340	8	to	to	ADP
cblr-2899	340	9	dodd	dodd	PROPN
cblr-2899	340	10	-	-	PUNCT
cblr-2899	340	11	frank	frank	PROPN
cblr-2899	340	12	,	,	PUNCT
cblr-2899	340	13	the	the	DET
cblr-2899	340	14	sec	sec	PROPN
cblr-2899	340	15	is	be	AUX
cblr-2899	340	16	required	require	VERB
cblr-2899	340	17	to	to	PART
cblr-2899	340	18	conduct	conduct	VERB
cblr-2899	340	19	a	a	DET
cblr-2899	340	20	study	study	NOUN
cblr-2899	340	21	that	that	SCONJ
cblr-2899	340	22	"	"	PUNCT
cblr-2899	340	23	give[s	give[s	NOUN
cblr-2899	340	24	]	]	PUNCT
cblr-2899	340	25	thorough	thorough	ADJ
cblr-2899	340	26	consideration	consideration	NOUN
cblr-2899	340	27	"	"	PUNCT
cblr-2899	340	28	to	to	ADP
cblr-2899	340	29	such	such	DET
cblr-2899	340	30	a	a	DET
cblr-2899	340	31	system	system	NOUN
cblr-2899	340	32	by	by	ADP
cblr-2899	340	33	2012	2012	NUM
cblr-2899	340	34	,	,	PUNCT
cblr-2899	340	35	and	and	CCONJ
cblr-2899	340	36	implement	implement	VERB
cblr-2899	340	37	it	it	PRON
cblr-2899	340	38	unless	unless	SCONJ
cblr-2899	340	39	the	the	DET
cblr-2899	340	40	sec	sec	PROPN
cblr-2899	340	41	determines	determine	VERB
cblr-2899	340	42	that	that	SCONJ
cblr-2899	340	43	an	an	DET
cblr-2899	340	44	alternative	alternative	ADJ
cblr-2899	340	45	system	system	NOUN
cblr-2899	340	46	better	well	ADV
cblr-2899	340	47	serves	serve	VERB
cblr-2899	340	48	the	the	DET
cblr-2899	340	49	public	public	ADJ
cblr-2899	340	50	interest	interest	NOUN
cblr-2899	340	51	and	and	CCONJ
cblr-2899	340	52	the	the	DET
cblr-2899	340	53	protection	protection	NOUN
cblr-2899	340	54	of	of	ADP
cblr-2899	340	55	investors.99	investors.99	PROPN
cblr-2899	340	56	although	although	SCONJ
cblr-2899	340	57	such	such	DET
cblr-2899	340	58	a	a	DET
cblr-2899	340	59	system	system	NOUN
cblr-2899	340	60	continues	continue	VERB
cblr-2899	340	61	to	to	PART
cblr-2899	340	62	rely	rely	VERB
cblr-2899	340	63	on	on	ADP
cblr-2899	340	64	issuers	issuer	NOUN
cblr-2899	340	65	paying	pay	VERB
cblr-2899	340	66	the	the	DET
cblr-2899	340	67	cras	cras	X
cblr-2899	340	68	their	their	PRON
cblr-2899	340	69	fees	fee	NOUN
cblr-2899	340	70	,	,	PUNCT
cblr-2899	340	71	it	it	PRON
cblr-2899	340	72	avoids	avoid	VERB
cblr-2899	340	73	the	the	DET
cblr-2899	340	74	issuer	issuer	NOUN
cblr-2899	340	75	-	-	PUNCT
cblr-2899	340	76	pays	pay	VERB
cblr-2899	340	77	conflict	conflict	NOUN
cblr-2899	340	78	of	of	ADP
cblr-2899	340	79	interest	interest	NOUN
cblr-2899	340	80	problem	problem	NOUN
cblr-2899	340	81	by	by	ADP
cblr-2899	340	82	denying	deny	VERB
cblr-2899	340	83	the	the	DET
cblr-2899	340	84	issuer	issuer	NOUN
cblr-2899	340	85	a	a	DET
cblr-2899	340	86	chance	chance	NOUN
cblr-2899	340	87	to	to	ADP
cblr-2899	340	88	"	"	PUNCT
cblr-2899	340	89	ratings	rating	NOUN
cblr-2899	340	90	shop	shop	NOUN
cblr-2899	340	91	"	"	PUNCT
cblr-2899	340	92	and	and	CCONJ
cblr-2899	340	93	select	select	VERB
cblr-2899	340	94	the	the	DET
cblr-2899	340	95	nrsro	nrsro	NOUN
cblr-2899	340	96	of	of	ADP
cblr-2899	340	97	its	its	PRON
cblr-2899	340	98	choice	choice	NOUN
cblr-2899	340	99	.	.	PUNCT
cblr-2899	341	1	the	the	DET
cblr-2899	341	2	advantage	advantage	NOUN
cblr-2899	341	3	of	of	ADP
cblr-2899	341	4	this	this	DET
cblr-2899	341	5	system	system	NOUN
cblr-2899	341	6	is	be	AUX
cblr-2899	341	7	that	that	SCONJ
cblr-2899	341	8	it	it	PRON
cblr-2899	341	9	is	be	AUX
cblr-2899	341	10	a	a	DET
cblr-2899	341	11	simple	simple	ADJ
cblr-2899	341	12	and	and	CCONJ
cblr-2899	341	13	direct	direct	ADJ
cblr-2899	341	14	method	method	NOUN
cblr-2899	341	15	.	.	PUNCT
cblr-2899	342	1	it	it	PRON
cblr-2899	342	2	also	also	ADV
cblr-2899	342	3	has	have	VERB
cblr-2899	342	4	the	the	DET
cblr-2899	342	5	potential	potential	NOUN
cblr-2899	342	6	of	of	ADP
cblr-2899	342	7	encouraging	encourage	VERB
cblr-2899	342	8	entry	entry	NOUN
cblr-2899	342	9	into	into	ADP
cblr-2899	342	10	the	the	DET
cblr-2899	342	11	market	market	NOUN
cblr-2899	342	12	.	.	PUNCT
cblr-2899	343	1	the	the	DET
cblr-2899	343	2	board	board	NOUN
cblr-2899	343	3	could	could	AUX
cblr-2899	343	4	match	match	VERB
cblr-2899	343	5	issuers	issuer	NOUN
cblr-2899	343	6	with	with	ADP
cblr-2899	343	7	new	new	ADJ
cblr-2899	343	8	agencies	agency	NOUN
cblr-2899	343	9	who	who	PRON
cblr-2899	343	10	have	have	VERB
cblr-2899	343	11	little	little	ADJ
cblr-2899	343	12	reputational	reputational	ADJ
cblr-2899	343	13	capital	capital	NOUN
cblr-2899	343	14	and	and	CCONJ
cblr-2899	343	15	thus	thus	ADV
cblr-2899	343	16	help	help	VERB
cblr-2899	343	17	those	those	DET
cblr-2899	343	18	new	new	ADJ
cblr-2899	343	19	agencies	agency	NOUN
cblr-2899	343	20	enhance	enhance	VERB
cblr-2899	343	21	their	their	PRON
cblr-2899	343	22	visibility	visibility	NOUN
cblr-2899	343	23	and	and	CCONJ
cblr-2899	343	24	acceptance	acceptance	NOUN
cblr-2899	343	25	in	in	ADP
cblr-2899	343	26	the	the	DET
cblr-2899	343	27	market	market	NOUN
cblr-2899	343	28	.	.	PUNCT
cblr-2899	344	1	such	such	DET
cblr-2899	344	2	a	a	DET
cblr-2899	344	3	system	system	NOUN
cblr-2899	344	4	could	could	AUX
cblr-2899	344	5	encourage	encourage	VERB
cblr-2899	344	6	new	new	ADJ
cblr-2899	344	7	entrants	entrant	NOUN
cblr-2899	344	8	to	to	PART
cblr-2899	344	9	become	become	VERB
cblr-2899	344	10	nrsros	nrsros	NOUN
cblr-2899	344	11	or	or	CCONJ
cblr-2899	344	12	encourage	encourage	VERB
cblr-2899	344	13	existing	exist	VERB
cblr-2899	344	14	,	,	PUNCT
cblr-2899	344	15	smaller	small	ADJ
cblr-2899	344	16	nrsros	nrsro	NOUN
cblr-2899	344	17	to	to	PART
cblr-2899	344	18	increase	increase	VERB
cblr-2899	344	19	the	the	DET
cblr-2899	344	20	scope	scope	NOUN
cblr-2899	344	21	of	of	ADP
cblr-2899	344	22	the	the	DET
cblr-2899	344	23	securities	security	NOUN
cblr-2899	344	24	they	they	PRON
cblr-2899	344	25	rate	rate	VERB
cblr-2899	344	26	.	.	PUNCT
cblr-2899	344	27	'00	'00	NUM
cblr-2899	344	28	in	in	ADP
cblr-2899	344	29	addition	addition	NOUN
cblr-2899	344	30	,	,	PUNCT
cblr-2899	344	31	this	this	DET
cblr-2899	344	32	system	system	NOUN
cblr-2899	344	33	could	could	AUX
cblr-2899	344	34	lead	lead	VERB
cblr-2899	344	35	to	to	ADP
cblr-2899	344	36	greater	great	ADJ
cblr-2899	344	37	diversity	diversity	NOUN
cblr-2899	344	38	of	of	ADP
cblr-2899	344	39	opinions	opinion	NOUN
cblr-2899	344	40	,	,	PUNCT
cblr-2899	344	41	since	since	SCONJ
cblr-2899	344	42	the	the	DET
cblr-2899	344	43	issuer	issuer	NOUN
cblr-2899	344	44	is	be	AUX
cblr-2899	344	45	only	only	ADV
cblr-2899	344	46	required	require	VERB
cblr-2899	344	47	to	to	PART
cblr-2899	344	48	go	go	VERB
cblr-2899	344	49	through	through	ADP
cblr-2899	344	50	this	this	DET
cblr-2899	344	51	mandatory	mandatory	ADJ
cblr-2899	344	52	assignment	assignment	NOUN
cblr-2899	344	53	system	system	NOUN
cblr-2899	344	54	for	for	ADP
cblr-2899	344	55	an	an	DET
cblr-2899	344	56	initial	initial	ADJ
cblr-2899	344	57	rating	rating	NOUN
cblr-2899	344	58	,	,	PUNCT
cblr-2899	344	59	and	and	CCONJ
cblr-2899	344	60	could	could	AUX
cblr-2899	344	61	subsequently	subsequently	ADV
cblr-2899	344	62	pay	pay	VERB
cblr-2899	344	63	for	for	ADP
cblr-2899	344	64	a	a	DET
cblr-2899	344	65	second	second	ADJ
cblr-2899	344	66	rating	rating	NOUN
cblr-2899	344	67	from	from	ADP
cblr-2899	344	68	the	the	DET
cblr-2899	344	69	nrsro	nrsro	NOUN
cblr-2899	344	70	of	of	ADP
cblr-2899	344	71	its	its	PRON
cblr-2899	344	72	choice.101	choice.101	PROPN
cblr-2899	344	73	however	however	ADV
cblr-2899	344	74	,	,	PUNCT
cblr-2899	344	75	the	the	DET
cblr-2899	344	76	model	model	NOUN
cblr-2899	344	77	has	have	VERB
cblr-2899	344	78	several	several	ADJ
cblr-2899	344	79	disadvantages	disadvantage	NOUN
cblr-2899	344	80	.	.	PUNCT
cblr-2899	345	1	government	government	NOUN
cblr-2899	345	2	agencies	agency	NOUN
cblr-2899	345	3	are	be	AUX
cblr-2899	345	4	themselves	themselves	PRON
cblr-2899	345	5	vulnerable	vulnerable	ADJ
cblr-2899	345	6	to	to	ADP
cblr-2899	345	7	biases	bias	NOUN
cblr-2899	345	8	and	and	CCONJ
cblr-2899	345	9	political	political	ADJ
cblr-2899	345	10	pressure	pressure	NOUN
cblr-2899	345	11	.	.	PUNCT
cblr-2899	346	1	any	any	DET
cblr-2899	346	2	indication	indication	NOUN
cblr-2899	346	3	of	of	ADP
cblr-2899	346	4	such	such	ADJ
cblr-2899	346	5	biases	bias	NOUN
cblr-2899	346	6	could	could	AUX
cblr-2899	346	7	severely	severely	ADV
cblr-2899	346	8	hamper	hamper	VERB
cblr-2899	346	9	the	the	DET
cblr-2899	346	10	credibility	credibility	NOUN
cblr-2899	346	11	of	of	ADP
cblr-2899	346	12	the	the	DET
cblr-2899	346	13	system	system	NOUN
cblr-2899	346	14	,	,	PUNCT
cblr-2899	346	15	making	make	VERB
cblr-2899	346	16	it	it	PRON
cblr-2899	346	17	seem	seem	VERB
cblr-2899	346	18	like	like	ADP
cblr-2899	346	19	an	an	DET
cblr-2899	346	20	unfair	unfair	ADJ
cblr-2899	346	21	allocation	allocation	NOUN
cblr-2899	346	22	of	of	ADP
cblr-2899	346	23	market	market	NOUN
cblr-2899	346	24	power	power	NOUN
cblr-2899	346	25	.	.	PUNCT
cblr-2899	347	1	for	for	ADP
cblr-2899	347	2	instance	instance	NOUN
cblr-2899	347	3	,	,	PUNCT
cblr-2899	347	4	in	in	ADP
cblr-2899	347	5	response	response	NOUN
cblr-2899	347	6	to	to	ADP
cblr-2899	347	7	s&p	s&p	PROPN
cblr-2899	347	8	's	's	PART
cblr-2899	347	9	recent	recent	ADJ
cblr-2899	347	10	u.s	u.s	PROPN
cblr-2899	347	11	.	.	PROPN
cblr-2899	347	12	sovereign	sovereign	ADJ
cblr-2899	347	13	debt	debt	NOUN
cblr-2899	347	14	downgrades	downgrade	NOUN
cblr-2899	347	15	,	,	PUNCT
cblr-2899	347	16	a	a	DET
cblr-2899	347	17	government	government	NOUN
cblr-2899	347	18	agency	agency	NOUN
cblr-2899	347	19	may	may	AUX
cblr-2899	347	20	be	be	AUX
cblr-2899	347	21	tempted	tempt	VERB
cblr-2899	347	22	to	to	PART
cblr-2899	347	23	shift	shift	VERB
cblr-2899	347	24	98	98	NUM
cblr-2899	347	25	see	see	NOUN
cblr-2899	347	26	coffee	coffee	NOUN
cblr-2899	347	27	,	,	PUNCT
cblr-2899	347	28	supra	supra	PROPN
cblr-2899	347	29	note	note	NOUN
cblr-2899	347	30	33	33	NUM
cblr-2899	347	31	,	,	PUNCT
cblr-2899	347	32	at	at	ADP
cblr-2899	347	33	256	256	NUM
cblr-2899	347	34	;	;	PUNCT
cblr-2899	347	35	see	see	VERB
cblr-2899	347	36	also	also	ADV
cblr-2899	347	37	cleary	cleary	PROPN
cblr-2899	347	38	,	,	PUNCT
cblr-2899	347	39	gottlieb	gottlieb	PROPN
cblr-2899	347	40	,	,	PUNCT
cblr-2899	347	41	steen	steen	PROPN
cblr-2899	347	42	&	&	CCONJ
cblr-2899	347	43	hamilton	hamilton	PROPN
cblr-2899	347	44	llp	llp	PROPN
cblr-2899	347	45	,	,	PUNCT
cblr-2899	347	46	dodd	dodd	PROPN
cblr-2899	347	47	-	-	PUNCT
cblr-2899	347	48	frank	frank	PROPN
cblr-2899	347	49	wall	wall	PROPN
cblr-2899	347	50	street	street	PROPN
cblr-2899	347	51	reform	reform	PROPN
cblr-2899	347	52	and	and	CCONJ
cblr-2899	347	53	consumer	consumer	NOUN
cblr-2899	347	54	protection	protection	NOUN
cblr-2899	347	55	act	act	NOUN
cblr-2899	347	56	poised	poise	VERB
cblr-2899	347	57	to	to	PART
cblr-2899	347	58	usher	usher	VERB
cblr-2899	347	59	in	in	ADP
cblr-2899	347	60	sweeping	sweeping	ADJ
cblr-2899	347	61	reform	reform	NOUN
cblr-2899	347	62	of	of	ADP
cblr-2899	347	63	u.s	u.s	PROPN
cblr-2899	347	64	.	.	PROPN
cblr-2899	347	65	financial	financial	ADJ
cblr-2899	347	66	services	service	NOUN
cblr-2899	347	67	regulation	regulation	VERB
cblr-2899	347	68	34	34	NUM
cblr-2899	347	69	-	-	SYM
cblr-2899	347	70	35	35	NUM
cblr-2899	347	71	(	(	PUNCT
cblr-2899	347	72	2010	2010	NUM
cblr-2899	347	73	)	)	PUNCT
cblr-2899	347	74	,	,	PUNCT
cblr-2899	347	75	available	available	ADJ
cblr-2899	347	76	at	at	ADP
cblr-2899	347	77	www.cgsh.com/files/news	www.cgsh.com/files/news	PROPN
cblr-2899	347	78	/8a4361fa-13lb-46b9	/8a4361fa-13lb-46b9	NOUN
cblr-2899	347	79	-	-	PUNCT
cblr-2899	347	80	a3ad-779430dac8a6	a3ad-779430dac8a6	NOUN
cblr-2899	347	81	/	/	SYM
cblr-2899	347	82	presentation	presentation	NOUN
cblr-2899	347	83	/	/	SYM
cblr-2899	347	84	newsattachment/	newsattachment/	NUM
cblr-2899	347	85	153327b9	153327b9	NUM
cblr-2899	347	86	-	-	PUNCT
cblr-2899	347	87	3dao-4d63	3dao-4d63	NUM
cblr-2899	347	88	-	-	PUNCT
cblr-2899	347	89	b2cb-32c8022d8159	b2cb-32c8022d8159	NOUN
cblr-2899	347	90	/	/	SYM
cblr-2899	347	91	cleary%20gottlieb%2ododdfrank%20alert%20memo.pdf	cleary%20gottlieb%2ododdfrank%20alert%20memo.pdf	NOUN
cblr-2899	347	92	.	.	NOUN
cblr-2899	347	93	9	9	NUM
cblr-2899	347	94	dodd	dodd	PROPN
cblr-2899	347	95	-	-	PUNCT
cblr-2899	347	96	frank	frank	PROPN
cblr-2899	347	97	wall	wall	PROPN
cblr-2899	347	98	street	street	PROPN
cblr-2899	347	99	reform	reform	PROPN
cblr-2899	347	100	and	and	CCONJ
cblr-2899	347	101	consumer	consumer	NOUN
cblr-2899	347	102	protection	protection	PROPN
cblr-2899	347	103	act	act	NOUN
cblr-2899	347	104	§	§	PROPN
cblr-2899	347	105	939f(d)(1	939f(d)(1	NOUN
cblr-2899	347	106	)	)	PUNCT
cblr-2899	347	107	,	,	PUNCT
cblr-2899	347	108	pub	pub	NOUN
cblr-2899	347	109	.	.	PUNCT
cblr-2899	348	1	l.	l.	PROPN
cblr-2899	348	2	no	no	INTJ
cblr-2899	348	3	.	.	PROPN
cblr-2899	348	4	111	111	NUM
cblr-2899	348	5	-	-	SYM
cblr-2899	348	6	203	203	NUM
cblr-2899	348	7	,	,	PUNCT
cblr-2899	348	8	124	124	NUM
cblr-2899	348	9	stat	stat	NOUN
cblr-2899	348	10	.	.	PUNCT
cblr-2899	349	1	1376	1376	NUM
cblr-2899	349	2	(	(	PUNCT
cblr-2899	349	3	2010	2010	NUM
cblr-2899	349	4	)	)	PUNCT
cblr-2899	349	5	.	.	PUNCT
cblr-2899	350	1	100	100	NUM
cblr-2899	350	2	see	see	VERB
cblr-2899	350	3	coffee	coffee	NOUN
cblr-2899	350	4	,	,	PUNCT
cblr-2899	350	5	supra	supra	PROPN
cblr-2899	350	6	note	note	NOUN
cblr-2899	350	7	33	33	NUM
cblr-2899	350	8	,	,	PUNCT
cblr-2899	350	9	at	at	ADP
cblr-2899	350	10	268	268	NUM
cblr-2899	350	11	.	.	PUNCT
cblr-2899	351	1	101	101	NUM
cblr-2899	352	1	i	i	PRON
cblr-2899	352	2	d.	d.	PROPN
cblr-2899	352	3	at	at	ADP
cblr-2899	352	4	257	257	NUM
cblr-2899	352	5	.	.	PUNCT
cblr-2899	353	1	no	no	INTJ
cblr-2899	353	2	.	.	NOUN
cblr-2899	354	1	3:994	3:994	NUM
cblr-2899	354	2	]	]	X
cblr-2899	354	3	reg	reg	PROPN
cblr-2899	354	4	ula	ula	PROPN
cblr-2899	354	5	ting	ting	PROPN
cblr-2899	354	6	credit	credit	PROPN
cblr-2899	354	7	ra	ra	PROPN
cblr-2899	354	8	ting	te	VERB
cblr-2899	354	9	a	a	DET
cblr-2899	354	10	gencies	gencie	NOUN
cblr-2899	354	11	1019	1019	NUM
cblr-2899	354	12	business	business	NOUN
cblr-2899	354	13	away	away	ADV
cblr-2899	354	14	from	from	ADP
cblr-2899	354	15	s&p	s&p	PROPN
cblr-2899	354	16	to	to	ADP
cblr-2899	354	17	other	other	ADJ
cblr-2899	354	18	agencies	agency	NOUN
cblr-2899	354	19	with	with	ADP
cblr-2899	354	20	a	a	DET
cblr-2899	354	21	more	more	ADV
cblr-2899	354	22	optimistic	optimistic	ADJ
cblr-2899	354	23	view	view	NOUN
cblr-2899	354	24	of	of	ADP
cblr-2899	354	25	u.s	u.s	PROPN
cblr-2899	354	26	.	.	PROPN
cblr-2899	354	27	debt	debt	NOUN
cblr-2899	354	28	.	.	PUNCT
cblr-2899	355	1	1	1	NUM
cblr-2899	355	2	02	02	NUM
cblr-2899	355	3	selecting	select	VERB
cblr-2899	355	4	members	member	NOUN
cblr-2899	355	5	of	of	ADP
cblr-2899	355	6	the	the	DET
cblr-2899	355	7	board	board	NOUN
cblr-2899	355	8	also	also	ADV
cblr-2899	355	9	will	will	AUX
cblr-2899	355	10	be	be	AUX
cblr-2899	355	11	a	a	DET
cblr-2899	355	12	significant	significant	ADJ
cblr-2899	355	13	challenge	challenge	NOUN
cblr-2899	355	14	in	in	ADP
cblr-2899	355	15	itself	itself	PRON
cblr-2899	355	16	,	,	PUNCT
cblr-2899	355	17	since	since	SCONJ
cblr-2899	355	18	there	there	PRON
cblr-2899	355	19	are	be	VERB
cblr-2899	355	20	many	many	ADJ
cblr-2899	355	21	ways	way	NOUN
cblr-2899	355	22	in	in	ADP
cblr-2899	355	23	which	which	PRON
cblr-2899	355	24	the	the	DET
cblr-2899	355	25	individual	individual	ADJ
cblr-2899	355	26	members	member	NOUN
cblr-2899	355	27	could	could	AUX
cblr-2899	355	28	be	be	AUX
cblr-2899	355	29	conflicted	conflict	VERB
cblr-2899	355	30	.	.	PUNCT
cblr-2899	356	1	103	103	NUM
cblr-2899	356	2	in	in	ADP
cblr-2899	356	3	particular	particular	ADJ
cblr-2899	356	4	the	the	DET
cblr-2899	356	5	system	system	NOUN
cblr-2899	356	6	could	could	AUX
cblr-2899	356	7	create	create	VERB
cblr-2899	356	8	undesirable	undesirable	ADJ
cblr-2899	356	9	incentives	incentive	NOUN
cblr-2899	356	10	for	for	SCONJ
cblr-2899	356	11	rating	rating	NOUN
cblr-2899	356	12	agencies	agency	NOUN
cblr-2899	356	13	to	to	PART
cblr-2899	356	14	lobby	lobby	VERB
cblr-2899	356	15	and	and	CCONJ
cblr-2899	356	16	support	support	VERB
cblr-2899	356	17	particular	particular	ADJ
cblr-2899	356	18	board	board	NOUN
cblr-2899	356	19	members	member	NOUN
cblr-2899	356	20	in	in	ADP
cblr-2899	356	21	order	order	NOUN
cblr-2899	356	22	to	to	PART
cblr-2899	356	23	obtain	obtain	VERB
cblr-2899	356	24	increased	increase	VERB
cblr-2899	356	25	business	business	NOUN
cblr-2899	356	26	.	.	PUNCT
cblr-2899	357	1	under	under	ADP
cblr-2899	357	2	this	this	DET
cblr-2899	357	3	proposal	proposal	NOUN
cblr-2899	357	4	,	,	PUNCT
cblr-2899	357	5	the	the	DET
cblr-2899	357	6	allocation	allocation	NOUN
cblr-2899	357	7	system	system	NOUN
cblr-2899	357	8	could	could	AUX
cblr-2899	357	9	be	be	AUX
cblr-2899	357	10	a	a	DET
cblr-2899	357	11	completely	completely	ADV
cblr-2899	357	12	random	random	ADJ
cblr-2899	357	13	allocation	allocation	NOUN
cblr-2899	357	14	of	of	ADP
cblr-2899	357	15	rating	rating	NOUN
cblr-2899	357	16	contracts	contract	NOUN
cblr-2899	357	17	,	,	PUNCT
cblr-2899	357	18	or	or	CCONJ
cblr-2899	357	19	instead	instead	ADV
cblr-2899	357	20	,	,	PUNCT
cblr-2899	357	21	an	an	DET
cblr-2899	357	22	allocation	allocation	NOUN
cblr-2899	357	23	that	that	PRON
cblr-2899	357	24	awards	award	NOUN
cblr-2899	357	25	rating	rating	NOUN
cblr-2899	357	26	agencies	agency	NOUN
cblr-2899	357	27	of	of	ADP
cblr-2899	357	28	higher	high	ADJ
cblr-2899	357	29	quality	quality	NOUN
cblr-2899	357	30	with	with	ADP
cblr-2899	357	31	proportionately	proportionately	ADV
cblr-2899	357	32	more	more	ADJ
cblr-2899	357	33	business	business	NOUN
cblr-2899	357	34	.	.	PUNCT
cblr-2899	358	1	there	there	PRON
cblr-2899	358	2	are	be	VERB
cblr-2899	358	3	several	several	ADJ
cblr-2899	358	4	problems	problem	NOUN
cblr-2899	358	5	with	with	ADP
cblr-2899	358	6	an	an	DET
cblr-2899	358	7	allocation	allocation	NOUN
cblr-2899	358	8	system	system	NOUN
cblr-2899	358	9	based	base	VERB
cblr-2899	358	10	on	on	ADP
cblr-2899	358	11	a	a	DET
cblr-2899	358	12	random	random	ADJ
cblr-2899	358	13	lottery	lottery	NOUN
cblr-2899	358	14	without	without	ADP
cblr-2899	358	15	consideration	consideration	NOUN
cblr-2899	358	16	of	of	ADP
cblr-2899	358	17	performance	performance	NOUN
cblr-2899	358	18	measures	measure	NOUN
cblr-2899	358	19	.	.	PUNCT
cblr-2899	359	1	104	104	NUM
cblr-2899	359	2	if	if	SCONJ
cblr-2899	359	3	based	base	VERB
cblr-2899	359	4	on	on	ADP
cblr-2899	359	5	random	random	ADJ
cblr-2899	359	6	allocations	allocation	NOUN
cblr-2899	359	7	,	,	PUNCT
cblr-2899	359	8	the	the	DET
cblr-2899	359	9	assumption	assumption	NOUN
cblr-2899	359	10	would	would	AUX
cblr-2899	359	11	be	be	AUX
cblr-2899	359	12	that	that	SCONJ
cblr-2899	359	13	all	all	DET
cblr-2899	359	14	ratings	rating	NOUN
cblr-2899	359	15	are	be	AUX
cblr-2899	359	16	equivalent	equivalent	ADJ
cblr-2899	359	17	or	or	CCONJ
cblr-2899	359	18	interchangeable	interchangeable	ADJ
cblr-2899	359	19	,	,	PUNCT
cblr-2899	359	20	based	base	VERB
cblr-2899	359	21	on	on	ADP
cblr-2899	359	22	comparable	comparable	ADJ
cblr-2899	359	23	assessments	assessment	NOUN
cblr-2899	359	24	and	and	CCONJ
cblr-2899	359	25	diligence	diligence	NOUN
cblr-2899	359	26	.	.	PUNCT
cblr-2899	360	1	in	in	ADP
cblr-2899	360	2	effect	effect	NOUN
cblr-2899	360	3	,	,	PUNCT
cblr-2899	360	4	this	this	DET
cblr-2899	360	5	presupposition	presupposition	NOUN
cblr-2899	360	6	could	could	AUX
cblr-2899	360	7	create	create	VERB
cblr-2899	360	8	a	a	DET
cblr-2899	360	9	minimum	minimum	ADJ
cblr-2899	360	10	standard	standard	NOUN
cblr-2899	360	11	of	of	ADP
cblr-2899	360	12	competence	competence	NOUN
cblr-2899	360	13	sufficient	sufficient	ADJ
cblr-2899	360	14	to	to	PART
cblr-2899	360	15	receive	receive	VERB
cblr-2899	360	16	rating	rating	NOUN
cblr-2899	360	17	contracts	contract	NOUN
cblr-2899	360	18	,	,	PUNCT
cblr-2899	360	19	the	the	DET
cblr-2899	360	20	result	result	NOUN
cblr-2899	360	21	of	of	ADP
cblr-2899	360	22	which	which	PRON
cblr-2899	360	23	might	might	AUX
cblr-2899	360	24	be	be	AUX
cblr-2899	360	25	that	that	SCONJ
cblr-2899	360	26	all	all	DET
cblr-2899	360	27	ratings	rating	NOUN
cblr-2899	360	28	will	will	AUX
cblr-2899	360	29	converge	converge	VERB
cblr-2899	360	30	to	to	ADP
cblr-2899	360	31	that	that	DET
cblr-2899	360	32	standard	standard	NOUN
cblr-2899	360	33	.	.	PUNCT
cblr-2899	361	1	cras	cras	PROPN
cblr-2899	361	2	meeting	meet	VERB
cblr-2899	361	3	this	this	DET
cblr-2899	361	4	minimum	minimum	ADJ
cblr-2899	361	5	operating	operating	NOUN
cblr-2899	361	6	standard	standard	NOUN
cblr-2899	361	7	may	may	AUX
cblr-2899	361	8	then	then	ADV
cblr-2899	361	9	have	have	VERB
cblr-2899	361	10	little	little	ADJ
cblr-2899	361	11	incentive	incentive	NOUN
cblr-2899	361	12	to	to	PART
cblr-2899	361	13	compete	compete	VERB
cblr-2899	361	14	with	with	ADP
cblr-2899	361	15	each	each	DET
cblr-2899	361	16	other	other	ADJ
cblr-2899	361	17	and	and	CCONJ
cblr-2899	361	18	attain	attain	VERB
cblr-2899	361	19	a	a	DET
cblr-2899	361	20	higher	high	ADJ
cblr-2899	361	21	level	level	NOUN
cblr-2899	361	22	of	of	ADP
cblr-2899	361	23	competence	competence	NOUN
cblr-2899	361	24	,	,	PUNCT
cblr-2899	361	25	given	give	VERB
cblr-2899	361	26	that	that	SCONJ
cblr-2899	361	27	the	the	DET
cblr-2899	361	28	government	government	NOUN
cblr-2899	361	29	basically	basically	ADV
cblr-2899	361	30	assures	assure	VERB
cblr-2899	361	31	their	their	PRON
cblr-2899	361	32	market	market	NOUN
cblr-2899	361	33	share.10	share.10	NOUN
cblr-2899	361	34	5	5	NUM
cblr-2899	361	35	the	the	DET
cblr-2899	361	36	outcome	outcome	NOUN
cblr-2899	361	37	could	could	AUX
cblr-2899	361	38	be	be	AUX
cblr-2899	361	39	to	to	PART
cblr-2899	361	40	chill	chill	VERB
cblr-2899	361	41	market	market	NOUN
cblr-2899	361	42	competition	competition	NOUN
cblr-2899	361	43	and	and	CCONJ
cblr-2899	361	44	significantly	significantly	ADV
cblr-2899	361	45	decrease	decrease	VERB
cblr-2899	361	46	expenditure	expenditure	NOUN
cblr-2899	361	47	on	on	ADP
cblr-2899	361	48	innovative	innovative	ADJ
cblr-2899	361	49	rating	rating	NOUN
cblr-2899	361	50	techniques.106	techniques.106	NOUN
cblr-2899	361	51	102	102	NUM
cblr-2899	361	52	binyamin	binyamin	NOUN
cblr-2899	361	53	appelbaum	appelbaum	PROPN
cblr-2899	361	54	&	&	CCONJ
cblr-2899	361	55	eric	eric	PROPN
cblr-2899	361	56	dash	dash	NOUN
cblr-2899	361	57	,	,	PUNCT
cblr-2899	361	58	s&p	s&p	PROPN
cblr-2899	361	59	downgrades	downgrade	VERB
cblr-2899	361	60	debt	debt	NOUN
cblr-2899	361	61	rating	rating	NOUN
cblr-2899	361	62	of	of	ADP
cblr-2899	361	63	u.s	u.s	PROPN
cblr-2899	361	64	.	.	PROPN
cblr-2899	361	65	for	for	ADP
cblr-2899	361	66	the	the	DET
cblr-2899	361	67	first	first	ADJ
cblr-2899	361	68	time	time	NOUN
cblr-2899	361	69	,	,	PUNCT
cblr-2899	361	70	n.y	n.y	PROPN
cblr-2899	361	71	.	.	PROPN
cblr-2899	361	72	times	times	PROPN
cblr-2899	361	73	,	,	PUNCT
cblr-2899	361	74	aug	aug	PROPN
cblr-2899	361	75	.	.	PROPN
cblr-2899	361	76	16	16	NUM
cblr-2899	361	77	,	,	PUNCT
cblr-2899	361	78	2011	2011	NUM
cblr-2899	361	79	,	,	PUNCT
cblr-2899	361	80	at	at	ADP
cblr-2899	361	81	al	al	PROPN
cblr-2899	361	82	.	.	PROPN
cblr-2899	361	83	103	103	NUM
cblr-2899	361	84	oversight	oversight	NOUN
cblr-2899	361	85	of	of	ADP
cblr-2899	361	86	the	the	DET
cblr-2899	361	87	credit	credit	NOUN
cblr-2899	361	88	rating	rating	NOUN
cblr-2899	361	89	agencies	agency	NOUN
cblr-2899	361	90	post	post	VERB
cblr-2899	361	91	dodd	dodd	PROPN
cblr-2899	361	92	-	-	PUNCT
cblr-2899	361	93	frank	frank	PROPN
cblr-2899	361	94	:	:	PUNCT
cblr-2899	361	95	hearing	hearing	NOUN
cblr-2899	361	96	before	before	ADP
cblr-2899	361	97	the	the	DET
cblr-2899	361	98	subcomm	subcomm	NOUN
cblr-2899	361	99	.	.	PUNCT
cblr-2899	362	1	on	on	ADP
cblr-2899	362	2	oversight	oversight	NOUN
cblr-2899	362	3	&	&	CCONJ
cblr-2899	362	4	investigations	investigation	NOUN
cblr-2899	362	5	of	of	ADP
cblr-2899	362	6	the	the	DET
cblr-2899	362	7	h.	h.	PROPN
cblr-2899	362	8	comm	comm	NOUN
cblr-2899	362	9	.	.	PUNCT
cblr-2899	363	1	on	on	ADP
cblr-2899	363	2	fin	fin	NOUN
cblr-2899	363	3	.	.	PUNCT
cblr-2899	364	1	servs	servs	PROPN
cblr-2899	364	2	.	.	PROPN
cblr-2899	364	3	,	,	PUNCT
cblr-2899	364	4	112th	112th	PROPN
cblr-2899	364	5	cong	cong	NOUN
cblr-2899	364	6	.	.	PUNCT
cblr-2899	365	1	23	23	NUM
cblr-2899	365	2	(	(	PUNCT
cblr-2899	365	3	2011	2011	NUM
cblr-2899	365	4	)	)	PUNCT
cblr-2899	366	1	[	[	X
cblr-2899	366	2	hereinafter	hereinafter	NOUN
cblr-2899	366	3	2011	2011	NUM
cblr-2899	366	4	hearings	hearing	NOUN
cblr-2899	366	5	]	]	PUNCT
cblr-2899	366	6	(	(	PUNCT
cblr-2899	366	7	statement	statement	NOUN
cblr-2899	366	8	of	of	ADP
cblr-2899	366	9	james	james	PROPN
cblr-2899	366	10	h.	h.	PROPN
cblr-2899	366	11	gellert	gellert	PROPN
cblr-2899	366	12	,	,	PUNCT
cblr-2899	366	13	chairman	chairman	NOUN
cblr-2899	366	14	and	and	CCONJ
cblr-2899	366	15	ceo	ceo	NOUN
cblr-2899	366	16	of	of	ADP
cblr-2899	366	17	rapid	rapid	ADJ
cblr-2899	366	18	ratings	rating	NOUN
cblr-2899	366	19	int'l	int'l	NOUN
cblr-2899	366	20	,	,	PUNCT
cblr-2899	366	21	inc	inc	PROPN
cblr-2899	366	22	.	.	PROPN
cblr-2899	366	23	)	)	PUNCT
cblr-2899	366	24	,	,	PUNCT
cblr-2899	366	25	available	available	ADJ
cblr-2899	366	26	at	at	ADP
cblr-2899	366	27	www.rapidratings.com/images/customlgellert&testimonyjo	www.rapidratings.com/images/customlgellert&testimonyjo	PROPN
cblr-2899	366	28	house	house	PROPN
cblr-2899	366	29	cfs	cfs	PROPN
cblr-2899	366	30	oversight	oversight	NOUN
cblr-2899	366	31	andinvestigationsjuly_27_201	andinvestigationsjuly_27_201	VERB
cblr-2899	366	32	lfinalwbio.pdf	lfinalwbio.pdf	PROPN
cblr-2899	366	33	.	.	PUNCT
cblr-2899	367	1	104	104	NUM
cblr-2899	367	2	oecd	oecd	PROPN
cblr-2899	367	3	hearing	hearing	NOUN
cblr-2899	367	4	,	,	PUNCT
cblr-2899	367	5	supra	supra	PROPN
cblr-2899	367	6	note	note	NOUN
cblr-2899	367	7	4	4	NUM
cblr-2899	367	8	,	,	PUNCT
cblr-2899	367	9	at	at	ADP
cblr-2899	367	10	11	11	NUM
cblr-2899	367	11	.	.	PUNCT
cblr-2899	367	12	105	105	NUM
cblr-2899	367	13	coffee	coffee	NOUN
cblr-2899	367	14	,	,	PUNCT
cblr-2899	367	15	supra	supra	PROPN
cblr-2899	367	16	note	note	NOUN
cblr-2899	367	17	33	33	NUM
cblr-2899	367	18	,	,	PUNCT
cblr-2899	367	19	at	at	ADP
cblr-2899	367	20	258	258	NUM
cblr-2899	367	21	.	.	PUNCT
cblr-2899	367	22	106	106	NUM
cblr-2899	367	23	2011	2011	NUM
cblr-2899	367	24	hearings	hearing	NOUN
cblr-2899	367	25	,	,	PUNCT
cblr-2899	367	26	supra	supra	PROPN
cblr-2899	367	27	note	note	NOUN
cblr-2899	367	28	104	104	NUM
cblr-2899	367	29	,	,	PUNCT
cblr-2899	367	30	at	at	ADP
cblr-2899	367	31	23	23	NUM
cblr-2899	367	32	.	.	PUNCT
cblr-2899	368	1	col	col	PROPN
cblr-2899	368	2	umbia	umbia	PROPN
cblr-2899	368	3	b	b	PROPN
cblr-2899	368	4	usiness	usiness	PROPN
cblr-2899	368	5	la	la	PROPN
cblr-2899	368	6	w	w	PROPN
cblr-2899	368	7	re	re	PROPN
cblr-2899	368	8	vie	vie	PROPN
cblr-2899	368	9	w	w	PROPN
cblr-2899	369	1	[	[	X
cblr-2899	369	2	vol	vol	NOUN
cblr-2899	369	3	.	.	PUNCT
cblr-2899	369	4	20121020	20121020	NUM
cblr-2899	369	5	instead	instead	ADV
cblr-2899	369	6	,	,	PUNCT
cblr-2899	369	7	a	a	DET
cblr-2899	369	8	larger	large	ADJ
cblr-2899	369	9	share	share	NOUN
cblr-2899	369	10	of	of	ADP
cblr-2899	369	11	rating	rating	NOUN
cblr-2899	369	12	contracts	contract	NOUN
cblr-2899	369	13	could	could	AUX
cblr-2899	369	14	be	be	AUX
cblr-2899	369	15	awarded	award	VERB
cblr-2899	369	16	based	base	VERB
cblr-2899	369	17	on	on	ADP
cblr-2899	369	18	the	the	DET
cblr-2899	369	19	quality	quality	NOUN
cblr-2899	369	20	of	of	ADP
cblr-2899	369	21	past	past	ADJ
cblr-2899	369	22	performance	performance	NOUN
cblr-2899	369	23	.	.	PUNCT
cblr-2899	370	1	this	this	PRON
cblr-2899	370	2	may	may	AUX
cblr-2899	370	3	revive	revive	VERB
cblr-2899	370	4	competition	competition	NOUN
cblr-2899	370	5	and	and	CCONJ
cblr-2899	370	6	innovation	innovation	NOUN
cblr-2899	370	7	,	,	PUNCT
cblr-2899	370	8	but	but	CCONJ
cblr-2899	370	9	still	still	ADV
cblr-2899	370	10	raises	raise	VERB
cblr-2899	370	11	other	other	ADJ
cblr-2899	370	12	concerns	concern	NOUN
cblr-2899	370	13	,	,	PUNCT
cblr-2899	370	14	particularly	particularly	ADV
cblr-2899	370	15	about	about	ADP
cblr-2899	370	16	the	the	DET
cblr-2899	370	17	intrusion	intrusion	NOUN
cblr-2899	370	18	of	of	ADP
cblr-2899	370	19	government	government	NOUN
cblr-2899	370	20	control	control	NOUN
cblr-2899	370	21	in	in	ADP
cblr-2899	370	22	the	the	DET
cblr-2899	370	23	private	private	ADJ
cblr-2899	370	24	markets	market	NOUN
cblr-2899	370	25	.	.	PUNCT
cblr-2899	371	1	some	some	PRON
cblr-2899	371	2	have	have	AUX
cblr-2899	371	3	expressed	express	VERB
cblr-2899	371	4	concern	concern	NOUN
cblr-2899	371	5	about	about	ADP
cblr-2899	371	6	the	the	DET
cblr-2899	371	7	expertise	expertise	NOUN
cblr-2899	371	8	and	and	CCONJ
cblr-2899	371	9	ability	ability	NOUN
cblr-2899	371	10	of	of	ADP
cblr-2899	371	11	government	government	NOUN
cblr-2899	371	12	agencies	agency	NOUN
cblr-2899	371	13	to	to	PART
cblr-2899	371	14	determine	determine	VERB
cblr-2899	371	15	the	the	DET
cblr-2899	371	16	metrics	metric	NOUN
cblr-2899	371	17	that	that	PRON
cblr-2899	371	18	define	define	VERB
cblr-2899	371	19	"	"	PUNCT
cblr-2899	371	20	quality	quality	NOUN
cblr-2899	371	21	"	"	PUNCT
cblr-2899	371	22	and	and	CCONJ
cblr-2899	371	23	further	far	ADV
cblr-2899	371	24	doubt	doubt	VERB
cblr-2899	371	25	their	their	PRON
cblr-2899	371	26	ability	ability	NOUN
cblr-2899	371	27	to	to	PART
cblr-2899	371	28	control	control	VERB
cblr-2899	371	29	for	for	ADP
cblr-2899	371	30	quality.10	quality.10	NOUN
cblr-2899	371	31	7	7	NUM
cblr-2899	371	32	more	more	ADV
cblr-2899	371	33	specifically	specifically	ADV
cblr-2899	371	34	,	,	PUNCT
cblr-2899	371	35	the	the	DET
cblr-2899	371	36	private	private	ADJ
cblr-2899	371	37	market	market	NOUN
cblr-2899	371	38	could	could	AUX
cblr-2899	371	39	essentially	essentially	ADV
cblr-2899	371	40	lose	lose	VERB
cblr-2899	371	41	all	all	DET
cblr-2899	371	42	control	control	NOUN
cblr-2899	371	43	over	over	ADP
cblr-2899	371	44	the	the	DET
cblr-2899	371	45	competitive	competitive	ADJ
cblr-2899	371	46	distribution	distribution	NOUN
cblr-2899	371	47	of	of	ADP
cblr-2899	371	48	rating	rating	NOUN
cblr-2899	371	49	contracts	contract	NOUN
cblr-2899	371	50	and	and	CCONJ
cblr-2899	371	51	be	be	AUX
cblr-2899	371	52	found	find	VERB
cblr-2899	371	53	to	to	PART
cblr-2899	371	54	rely	rely	VERB
cblr-2899	371	55	on	on	ADP
cblr-2899	371	56	the	the	DET
cblr-2899	371	57	sole	sole	ADJ
cblr-2899	371	58	judgment	judgment	NOUN
cblr-2899	371	59	of	of	ADP
cblr-2899	371	60	the	the	DET
cblr-2899	371	61	board	board	NOUN
cblr-2899	371	62	to	to	PART
cblr-2899	371	63	determine	determine	VERB
cblr-2899	371	64	which	which	PRON
cblr-2899	371	65	agencies	agency	NOUN
cblr-2899	371	66	deserve	deserve	VERB
cblr-2899	371	67	more	more	ADJ
cblr-2899	371	68	business	business	NOUN
cblr-2899	371	69	.	.	PUNCT
cblr-2899	372	1	devising	devise	VERB
cblr-2899	372	2	quality	quality	NOUN
cblr-2899	372	3	determinations	determination	NOUN
cblr-2899	372	4	is	be	AUX
cblr-2899	372	5	also	also	ADV
cblr-2899	372	6	a	a	DET
cblr-2899	372	7	burdensome	burdensome	ADJ
cblr-2899	372	8	and	and	CCONJ
cblr-2899	372	9	highly	highly	ADV
cblr-2899	372	10	complex	complex	ADJ
cblr-2899	372	11	task	task	NOUN
cblr-2899	372	12	for	for	ADP
cblr-2899	372	13	any	any	DET
cblr-2899	372	14	one	one	NUM
cblr-2899	372	15	body	body	NOUN
cblr-2899	372	16	to	to	PART
cblr-2899	372	17	take	take	VERB
cblr-2899	372	18	on	on	ADP
cblr-2899	372	19	,	,	PUNCT
cblr-2899	372	20	let	let	VERB
cblr-2899	372	21	alone	alone	ADV
cblr-2899	372	22	an	an	DET
cblr-2899	372	23	understaffed	understaffed	ADJ
cblr-2899	372	24	,	,	PUNCT
cblr-2899	372	25	underpaid	underpaid	ADJ
cblr-2899	372	26	,	,	PUNCT
cblr-2899	372	27	and	and	CCONJ
cblr-2899	372	28	unqualified	unqualified	ADJ
cblr-2899	372	29	government	government	NOUN
cblr-2899	372	30	entity	entity	NOUN
cblr-2899	372	31	like	like	ADP
cblr-2899	372	32	the	the	DET
cblr-2899	372	33	board	board	NOUN
cblr-2899	372	34	.	.	PUNCT
cblr-2899	373	1	having	have	VERB
cblr-2899	373	2	the	the	DET
cblr-2899	373	3	government	government	NOUN
cblr-2899	373	4	involved	involve	VERB
cblr-2899	373	5	in	in	ADP
cblr-2899	373	6	this	this	DET
cblr-2899	373	7	manner	manner	NOUN
cblr-2899	373	8	may	may	AUX
cblr-2899	373	9	also	also	ADV
cblr-2899	373	10	create	create	VERB
cblr-2899	373	11	the	the	DET
cblr-2899	373	12	impression	impression	NOUN
cblr-2899	373	13	that	that	SCONJ
cblr-2899	373	14	the	the	DET
cblr-2899	373	15	government	government	NOUN
cblr-2899	373	16	is	be	AUX
cblr-2899	373	17	certifying	certify	VERB
cblr-2899	373	18	or	or	CCONJ
cblr-2899	373	19	endorsing	endorse	VERB
cblr-2899	373	20	the	the	DET
cblr-2899	373	21	ratings	rating	NOUN
cblr-2899	373	22	.	.	PUNCT
cblr-2899	374	1	this	this	DET
cblr-2899	374	2	consequence	consequence	NOUN
cblr-2899	374	3	would	would	AUX
cblr-2899	374	4	be	be	AUX
cblr-2899	374	5	dangerous	dangerous	ADJ
cblr-2899	374	6	because	because	SCONJ
cblr-2899	374	7	it	it	PRON
cblr-2899	374	8	could	could	AUX
cblr-2899	374	9	increase	increase	VERB
cblr-2899	374	10	investor	investor	NOUN
cblr-2899	374	11	reliance	reliance	NOUN
cblr-2899	374	12	on	on	ADP
cblr-2899	374	13	ratings	rating	NOUN
cblr-2899	374	14	instead	instead	ADV
cblr-2899	374	15	of	of	ADP
cblr-2899	374	16	encouraging	encourage	VERB
cblr-2899	374	17	investors	investor	NOUN
cblr-2899	374	18	to	to	PART
cblr-2899	374	19	make	make	VERB
cblr-2899	374	20	their	their	PRON
cblr-2899	374	21	own	own	ADJ
cblr-2899	374	22	risk	risk	NOUN
cblr-2899	374	23	assessments	assessment	NOUN
cblr-2899	374	24	as	as	ADP
cblr-2899	374	25	well.1	well.1	PROPN
cblr-2899	374	26	08	08	NUM
cblr-2899	374	27	since	since	SCONJ
cblr-2899	374	28	the	the	DET
cblr-2899	374	29	regulation	regulation	NOUN
cblr-2899	374	30	would	would	AUX
cblr-2899	374	31	not	not	PART
cblr-2899	374	32	preclude	preclude	VERB
cblr-2899	374	33	an	an	DET
cblr-2899	374	34	issuer	issuer	NOUN
cblr-2899	374	35	from	from	ADP
cblr-2899	374	36	soliciting	solicit	VERB
cblr-2899	374	37	a	a	DET
cblr-2899	374	38	second	second	ADJ
cblr-2899	374	39	rating	rating	NOUN
cblr-2899	374	40	after	after	SCONJ
cblr-2899	374	41	the	the	DET
cblr-2899	374	42	initial	initial	ADJ
cblr-2899	374	43	rating	rating	NOUN
cblr-2899	374	44	has	have	AUX
cblr-2899	374	45	been	be	AUX
cblr-2899	374	46	given	give	VERB
cblr-2899	374	47	,	,	PUNCT
cblr-2899	374	48	there	there	PRON
cblr-2899	374	49	is	be	VERB
cblr-2899	374	50	also	also	ADV
cblr-2899	374	51	a	a	DET
cblr-2899	374	52	viable	viable	ADJ
cblr-2899	374	53	risk	risk	NOUN
cblr-2899	374	54	that	that	SCONJ
cblr-2899	374	55	the	the	DET
cblr-2899	374	56	"	"	PUNCT
cblr-2899	374	57	big	big	ADJ
cblr-2899	374	58	three	three	NUM
cblr-2899	374	59	"	"	PUNCT
cblr-2899	374	60	(	(	PUNCT
cblr-2899	374	61	moody	moody	NOUN
cblr-2899	374	62	's	's	PART
cblr-2899	374	63	,	,	PUNCT
cblr-2899	374	64	s&p	s&p	PROPN
cblr-2899	374	65	,	,	PUNCT
cblr-2899	374	66	and	and	CCONJ
cblr-2899	374	67	fitch	fitch	NOUN
cblr-2899	374	68	)	)	PUNCT
cblr-2899	374	69	would	would	AUX
cblr-2899	374	70	just	just	ADV
cblr-2899	374	71	abandon	abandon	VERB
cblr-2899	374	72	their	their	PRON
cblr-2899	374	73	nrsro	nrsro	ADJ
cblr-2899	374	74	status	status	NOUN
cblr-2899	374	75	and	and	CCONJ
cblr-2899	374	76	focus	focus	VERB
cblr-2899	374	77	exclusively	exclusively	ADV
cblr-2899	374	78	on	on	ADP
cblr-2899	374	79	issuing	issue	VERB
cblr-2899	374	80	"	"	PUNCT
cblr-2899	374	81	second	second	ADJ
cblr-2899	374	82	opinions	opinion	NOUN
cblr-2899	374	83	,	,	PUNCT
cblr-2899	374	84	"	"	PUNCT
cblr-2899	374	85	which	which	PRON
cblr-2899	374	86	the	the	DET
cblr-2899	374	87	market	market	NOUN
cblr-2899	374	88	would	would	AUX
cblr-2899	374	89	accept	accept	VERB
cblr-2899	374	90	as	as	ADP
cblr-2899	374	91	more	more	ADJ
cblr-2899	374	92	reliable.10	reliable.10	NOUN
cblr-2899	374	93	'	'	PUNCT
cblr-2899	374	94	the	the	DET
cblr-2899	374	95	danger	danger	NOUN
cblr-2899	374	96	would	would	AUX
cblr-2899	374	97	be	be	AUX
cblr-2899	374	98	that	that	SCONJ
cblr-2899	374	99	the	the	DET
cblr-2899	374	100	market	market	NOUN
cblr-2899	374	101	would	would	AUX
cblr-2899	374	102	largely	largely	ADV
cblr-2899	374	103	ignore	ignore	VERB
cblr-2899	374	104	the	the	DET
cblr-2899	374	105	initial	initial	ADJ
cblr-2899	374	106	ratings	rating	NOUN
cblr-2899	374	107	produced	produce	VERB
cblr-2899	374	108	by	by	ADP
cblr-2899	374	109	the	the	DET
cblr-2899	374	110	government	government	NOUN
cblr-2899	374	111	-	-	PUNCT
cblr-2899	374	112	assigned	assign	VERB
cblr-2899	374	113	nrsros	nrsro	NOUN
cblr-2899	374	114	,	,	PUNCT
cblr-2899	374	115	therefore	therefore	ADV
cblr-2899	374	116	reinstating	reinstate	VERB
cblr-2899	374	117	the	the	DET
cblr-2899	374	118	same	same	ADJ
cblr-2899	374	119	conflict	conflict	NOUN
cblr-2899	374	120	-	-	PUNCT
cblr-2899	374	121	of	of	ADP
cblr-2899	374	122	-	-	PUNCT
cblr-2899	374	123	interest	interest	NOUN
cblr-2899	374	124	concerns	concern	NOUN
cblr-2899	374	125	the	the	DET
cblr-2899	374	126	franken	franken	PROPN
cblr-2899	374	127	proposal	proposal	NOUN
cblr-2899	374	128	sought	seek	VERB
cblr-2899	374	129	to	to	PART
cblr-2899	374	130	eliminate.110	eliminate.110	VERB
cblr-2899	374	131	this	this	DET
cblr-2899	374	132	result	result	NOUN
cblr-2899	374	133	assumes	assume	VERB
cblr-2899	374	134	,	,	PUNCT
cblr-2899	374	135	however	however	ADV
cblr-2899	374	136	,	,	PUNCT
cblr-2899	374	137	that	that	SCONJ
cblr-2899	374	138	the	the	DET
cblr-2899	374	139	market	market	NOUN
cblr-2899	374	140	would	would	AUX
cblr-2899	374	141	be	be	AUX
cblr-2899	374	142	comfortable	comfortable	ADJ
cblr-2899	374	143	with	with	ADP
cblr-2899	374	144	the	the	DET
cblr-2899	374	145	ratings	rating	NOUN
cblr-2899	374	146	produced	produce	VERB
cblr-2899	374	147	by	by	ADP
cblr-2899	374	148	a	a	DET
cblr-2899	374	149	cra	cra	PROPN
cblr-2899	374	150	that	that	PRON
cblr-2899	374	151	has	have	AUX
cblr-2899	374	152	withdrawn	withdraw	VERB
cblr-2899	374	153	its	its	PRON
cblr-2899	374	154	nrsro	nrsro	ADJ
cblr-2899	374	155	status	status	NOUN
cblr-2899	374	156	.	.	PUNCT
cblr-2899	375	1	107	107	NUM
cblr-2899	375	2	richardson	richardson	PROPN
cblr-2899	375	3	&	&	CCONJ
cblr-2899	375	4	white	white	PROPN
cblr-2899	375	5	,	,	PUNCT
cblr-2899	375	6	supra	supra	PROPN
cblr-2899	375	7	note	note	PROPN
cblr-2899	375	8	25	25	NUM
cblr-2899	375	9	,	,	PUNCT
cblr-2899	375	10	at	at	ADP
cblr-2899	375	11	109	109	NUM
cblr-2899	375	12	.	.	SYM
cblr-2899	375	13	108	108	NUM
cblr-2899	375	14	cinquegrana	cinquegrana	PROPN
cblr-2899	375	15	,	,	PUNCT
cblr-2899	375	16	supra	supra	PROPN
cblr-2899	375	17	note	note	PROPN
cblr-2899	375	18	88	88	NUM
cblr-2899	375	19	,	,	PUNCT
cblr-2899	375	20	at	at	ADP
cblr-2899	375	21	9	9	NUM
cblr-2899	375	22	.	.	NUM
cblr-2899	375	23	109	109	NUM
cblr-2899	375	24	coffee	coffee	NOUN
cblr-2899	375	25	,	,	PUNCT
cblr-2899	375	26	supra	supra	PROPN
cblr-2899	375	27	note	note	NOUN
cblr-2899	375	28	33	33	NUM
cblr-2899	375	29	,	,	PUNCT
cblr-2899	375	30	at	at	ADP
cblr-2899	375	31	264	264	NUM
cblr-2899	375	32	.	.	PUNCT
cblr-2899	376	1	110	110	NUM
cblr-2899	377	1	i	i	PRON
cblr-2899	377	2	d.	d.	VERB
cblr-2899	377	3	at	at	ADP
cblr-2899	377	4	264	264	NUM
cblr-2899	377	5	.	.	PUNCT
cblr-2899	378	1	1021regulating	1021regulating	NUM
cblr-2899	378	2	credit	credit	NOUN
cblr-2899	378	3	rating	rating	NOUN
cblr-2899	378	4	agenciesno	agenciesno	NOUN
cblr-2899	378	5	.	.	PUNCT
cblr-2899	379	1	3:994]1	3:994]1	NUM
cblr-2899	379	2	these	these	PRON
cblr-2899	379	3	are	be	AUX
cblr-2899	379	4	all	all	PRON
cblr-2899	379	5	reasons	reason	NOUN
cblr-2899	379	6	why	why	SCONJ
cblr-2899	379	7	the	the	DET
cblr-2899	379	8	franken	franken	PROPN
cblr-2899	379	9	proposal	proposal	NOUN
cblr-2899	379	10	may	may	AUX
cblr-2899	379	11	not	not	PART
cblr-2899	379	12	be	be	AUX
cblr-2899	379	13	the	the	DET
cblr-2899	379	14	best	good	ADJ
cblr-2899	379	15	solution	solution	NOUN
cblr-2899	379	16	after	after	ADV
cblr-2899	379	17	all	all	ADV
cblr-2899	379	18	.	.	PUNCT
cblr-2899	380	1	so	so	ADV
cblr-2899	380	2	the	the	DET
cblr-2899	380	3	question	question	NOUN
cblr-2899	380	4	is	be	AUX
cblr-2899	380	5	:	:	PUNCT
cblr-2899	380	6	what	what	PRON
cblr-2899	380	7	other	other	ADJ
cblr-2899	380	8	options	option	NOUN
cblr-2899	380	9	are	be	AUX
cblr-2899	380	10	there	there	PRON
cblr-2899	380	11	?	?	PUNCT
cblr-2899	381	1	vi	vi	X
cblr-2899	381	2	.	.	PUNCT
cblr-2899	381	3	potential	potential	ADJ
cblr-2899	381	4	alternatives	alternative	NOUN
cblr-2899	381	5	to	to	ADP
cblr-2899	381	6	the	the	DET
cblr-2899	381	7	franken	franken	PROPN
cblr-2899	381	8	proposal	proposal	PROPN
cblr-2899	381	9	a.	a.	NOUN
cblr-2899	381	10	government	government	NOUN
cblr-2899	381	11	rating	rating	NOUN
cblr-2899	381	12	agency	agency	NOUN
cblr-2899	381	13	ratings	rating	NOUN
cblr-2899	381	14	already	already	ADV
cblr-2899	381	15	have	have	VERB
cblr-2899	381	16	many	many	ADJ
cblr-2899	381	17	characteristics	characteristic	NOUN
cblr-2899	381	18	of	of	ADP
cblr-2899	381	19	a	a	DET
cblr-2899	381	20	.public	.public	NOUN
cblr-2899	381	21	good	good	NOUN
cblr-2899	381	22	,	,	PUNCT
cblr-2899	381	23	so	so	ADV
cblr-2899	381	24	a	a	DET
cblr-2899	381	25	logical	logical	ADJ
cblr-2899	381	26	solution	solution	NOUN
cblr-2899	381	27	could	could	AUX
cblr-2899	381	28	be	be	AUX
cblr-2899	381	29	creating	create	VERB
cblr-2899	381	30	a	a	DET
cblr-2899	381	31	public	public	ADJ
cblr-2899	381	32	governmental	governmental	ADJ
cblr-2899	381	33	entity	entity	NOUN
cblr-2899	381	34	that	that	PRON
cblr-2899	381	35	issues	issue	VERB
cblr-2899	381	36	credit	credit	NOUN
cblr-2899	381	37	ratings	rating	NOUN
cblr-2899	381	38	.	.	PUNCT
cblr-2899	382	1	this	this	DET
cblr-2899	382	2	solution	solution	NOUN
cblr-2899	382	3	would	would	AUX
cblr-2899	382	4	avoid	avoid	VERB
cblr-2899	382	5	the	the	DET
cblr-2899	382	6	conflict	conflict	NOUN
cblr-2899	382	7	of	of	ADP
cblr-2899	382	8	interest	interest	NOUN
cblr-2899	382	9	problem	problem	NOUN
cblr-2899	382	10	of	of	ADP
cblr-2899	382	11	the	the	DET
cblr-2899	382	12	issuerpays	issuerpays	NOUN
cblr-2899	382	13	model	model	NOUN
cblr-2899	382	14	and	and	CCONJ
cblr-2899	382	15	the	the	DET
cblr-2899	382	16	free	free	ADJ
cblr-2899	382	17	rider	rider	NOUN
cblr-2899	382	18	problems	problem	NOUN
cblr-2899	382	19	of	of	ADP
cblr-2899	382	20	the	the	DET
cblr-2899	382	21	investor	investor	NOUN
cblr-2899	382	22	-	-	PUNCT
cblr-2899	382	23	pays	pay	NOUN
cblr-2899	382	24	model	model	NOUN
cblr-2899	382	25	.	.	PUNCT
cblr-2899	383	1	"'1	"'1	PUNCT
cblr-2899	383	2	however	however	ADV
cblr-2899	383	3	,	,	PUNCT
cblr-2899	383	4	the	the	DET
cblr-2899	383	5	cost	cost	NOUN
cblr-2899	383	6	of	of	ADP
cblr-2899	383	7	putting	put	VERB
cblr-2899	383	8	in	in	ADP
cblr-2899	383	9	the	the	DET
cblr-2899	383	10	apparatus	apparatus	NOUN
cblr-2899	383	11	for	for	ADP
cblr-2899	383	12	a	a	DET
cblr-2899	383	13	single	single	ADJ
cblr-2899	383	14	rating	rating	NOUN
cblr-2899	383	15	agency	agency	NOUN
cblr-2899	383	16	to	to	PART
cblr-2899	383	17	replace	replace	VERB
cblr-2899	383	18	a	a	DET
cblr-2899	383	19	multibillion	multibillion	NUM
cblr-2899	383	20	-	-	PUNCT
cblr-2899	383	21	dollar	dollar	NOUN
cblr-2899	383	22	industry	industry	NOUN
cblr-2899	383	23	is	be	AUX
cblr-2899	383	24	probably	probably	ADV
cblr-2899	383	25	unrealistically	unrealistically	ADV
cblr-2899	383	26	high.112	high.112	VERB
cblr-2899	383	27	if	if	SCONJ
cblr-2899	383	28	the	the	DET
cblr-2899	383	29	large	large	ADJ
cblr-2899	383	30	cost	cost	NOUN
cblr-2899	383	31	of	of	ADP
cblr-2899	383	32	setting	set	VERB
cblr-2899	383	33	up	up	ADP
cblr-2899	383	34	such	such	DET
cblr-2899	383	35	a	a	DET
cblr-2899	383	36	governmental	governmental	ADJ
cblr-2899	383	37	system	system	NOUN
cblr-2899	383	38	can	can	AUX
cblr-2899	383	39	not	not	PART
cblr-2899	383	40	be	be	AUX
cblr-2899	383	41	fully	fully	ADV
cblr-2899	383	42	funded	fund	VERB
cblr-2899	383	43	by	by	ADP
cblr-2899	383	44	fees	fee	NOUN
cblr-2899	383	45	from	from	ADP
cblr-2899	383	46	investors	investor	NOUN
cblr-2899	383	47	and	and	CCONJ
cblr-2899	383	48	issuers	issuer	NOUN
cblr-2899	383	49	(	(	PUNCT
cblr-2899	383	50	which	which	PRON
cblr-2899	383	51	is	be	AUX
cblr-2899	383	52	very	very	ADV
cblr-2899	383	53	likely	likely	ADJ
cblr-2899	383	54	,	,	PUNCT
cblr-2899	383	55	because	because	SCONJ
cblr-2899	383	56	high	high	ADJ
cblr-2899	383	57	fees	fee	NOUN
cblr-2899	383	58	could	could	AUX
cblr-2899	383	59	dramatically	dramatically	ADV
cblr-2899	383	60	increase	increase	VERB
cblr-2899	383	61	an	an	DET
cblr-2899	383	62	issuer	issuer	NOUN
cblr-2899	383	63	's	's	PART
cblr-2899	383	64	borrowing	borrowing	NOUN
cblr-2899	383	65	costs	cost	NOUN
cblr-2899	383	66	and	and	CCONJ
cblr-2899	383	67	force	force	VERB
cblr-2899	383	68	it	it	PRON
cblr-2899	383	69	to	to	PART
cblr-2899	383	70	exit	exit	VERB
cblr-2899	383	71	the	the	DET
cblr-2899	383	72	market	market	NOUN
cblr-2899	383	73	)	)	PUNCT
cblr-2899	383	74	,	,	PUNCT
cblr-2899	383	75	taxpayers	taxpayer	NOUN
cblr-2899	383	76	will	will	AUX
cblr-2899	383	77	be	be	AUX
cblr-2899	383	78	forced	force	VERB
cblr-2899	383	79	to	to	PART
cblr-2899	383	80	pay	pay	VERB
cblr-2899	383	81	for	for	ADP
cblr-2899	383	82	services	service	NOUN
cblr-2899	383	83	that	that	PRON
cblr-2899	383	84	benefit	benefit	VERB
cblr-2899	383	85	only	only	ADV
cblr-2899	383	86	a	a	DET
cblr-2899	383	87	small	small	ADJ
cblr-2899	383	88	class	class	NOUN
cblr-2899	383	89	of	of	ADP
cblr-2899	383	90	investors	investor	NOUN
cblr-2899	383	91	.	.	PUNCT
cblr-2899	384	1	additionally	additionally	ADV
cblr-2899	384	2	,	,	PUNCT
cblr-2899	384	3	the	the	DET
cblr-2899	384	4	government	government	NOUN
cblr-2899	384	5	is	be	AUX
cblr-2899	384	6	not	not	PART
cblr-2899	384	7	as	as	ADV
cblr-2899	384	8	good	good	ADJ
cblr-2899	384	9	at	at	ADP
cblr-2899	384	10	keeping	keep	VERB
cblr-2899	384	11	up	up	ADP
cblr-2899	384	12	with	with	ADP
cblr-2899	384	13	financial	financial	ADJ
cblr-2899	384	14	innovations	innovation	NOUN
cblr-2899	384	15	in	in	ADP
cblr-2899	384	16	the	the	DET
cblr-2899	384	17	private	private	ADJ
cblr-2899	384	18	sector	sector	NOUN
cblr-2899	384	19	because	because	SCONJ
cblr-2899	384	20	governments	government	NOUN
cblr-2899	384	21	can	can	AUX
cblr-2899	384	22	not	not	PART
cblr-2899	384	23	pay	pay	VERB
cblr-2899	384	24	their	their	PRON
cblr-2899	384	25	employees	employee	NOUN
cblr-2899	384	26	as	as	ADV
cblr-2899	384	27	much	much	ADV
cblr-2899	384	28	,	,	PUNCT
cblr-2899	384	29	which	which	PRON
cblr-2899	384	30	generally	generally	ADV
cblr-2899	384	31	translates	translate	VERB
cblr-2899	384	32	into	into	ADP
cblr-2899	384	33	less	less	ADJ
cblr-2899	384	34	skill	skill	NOUN
cblr-2899	384	35	,	,	PUNCT
cblr-2899	384	36	research	research	NOUN
cblr-2899	384	37	,	,	PUNCT
cblr-2899	384	38	and	and	CCONJ
cblr-2899	384	39	quality	quality	NOUN
cblr-2899	384	40	.	.	PUNCT
cblr-2899	385	1	113	113	NUM
cblr-2899	385	2	rating	rating	NOUN
cblr-2899	385	3	agencies	agency	NOUN
cblr-2899	385	4	also	also	ADV
cblr-2899	385	5	rate	rate	VERB
cblr-2899	385	6	government	government	NOUN
cblr-2899	385	7	debt	debt	NOUN
cblr-2899	385	8	and	and	CCONJ
cblr-2899	385	9	so	so	ADV
cblr-2899	385	10	a	a	DET
cblr-2899	385	11	government	government	NOUN
cblr-2899	385	12	rating	rating	NOUN
cblr-2899	385	13	agency	agency	NOUN
cblr-2899	385	14	would	would	AUX
cblr-2899	385	15	be	be	AUX
cblr-2899	385	16	faced	face	VERB
cblr-2899	385	17	with	with	ADP
cblr-2899	385	18	a	a	DET
cblr-2899	385	19	serious	serious	ADJ
cblr-2899	385	20	conflict	conflict	NOUN
cblr-2899	385	21	of	of	ADP
cblr-2899	385	22	interest	interest	NOUN
cblr-2899	385	23	since	since	SCONJ
cblr-2899	385	24	it	it	PRON
cblr-2899	385	25	would	would	AUX
cblr-2899	385	26	be	be	AUX
cblr-2899	385	27	subject	subject	ADJ
cblr-2899	385	28	to	to	ADP
cblr-2899	385	29	political	political	ADJ
cblr-2899	385	30	pressures	pressure	NOUN
cblr-2899	385	31	.	.	PUNCT
cblr-2899	386	1	giving	give	VERB
cblr-2899	386	2	a	a	DET
cblr-2899	386	3	negative	negative	ADJ
cblr-2899	386	4	rating	rating	NOUN
cblr-2899	386	5	to	to	ADP
cblr-2899	386	6	a	a	DET
cblr-2899	386	7	favored	favor	VERB
cblr-2899	386	8	country	country	NOUN
cblr-2899	386	9	or	or	CCONJ
cblr-2899	386	10	influential	influential	ADJ
cblr-2899	386	11	firm	firm	NOUN
cblr-2899	386	12	would	would	AUX
cblr-2899	386	13	create	create	VERB
cblr-2899	386	14	tension	tension	NOUN
cblr-2899	386	15	among	among	ADP
cblr-2899	386	16	politically	politically	ADV
cblr-2899	386	17	111	111	NUM
cblr-2899	386	18	see	see	NOUN
cblr-2899	386	19	yair	yair	PROPN
cblr-2899	386	20	listokin	listokin	PROPN
cblr-2899	386	21	&	&	CCONJ
cblr-2899	386	22	benjamin	benjamin	PROPN
cblr-2899	386	23	taibleson	taibleson	PROPN
cblr-2899	386	24	,	,	PUNCT
cblr-2899	386	25	if	if	SCONJ
cblr-2899	386	26	you	you	PRON
cblr-2899	386	27	misrate	misrate	VERB
cblr-2899	386	28	,	,	PUNCT
cblr-2899	386	29	then	then	ADV
cblr-2899	386	30	you	you	PRON
cblr-2899	386	31	lose	lose	VERB
cblr-2899	386	32	:	:	PUNCT
cblr-2899	386	33	improving	improve	VERB
cblr-2899	386	34	credit	credit	NOUN
cblr-2899	386	35	rating	rating	NOUN
cblr-2899	386	36	accuracy	accuracy	NOUN
cblr-2899	386	37	through	through	ADP
cblr-2899	386	38	incentive	incentive	NOUN
cblr-2899	386	39	compensation	compensation	NOUN
cblr-2899	386	40	,	,	PUNCT
cblr-2899	386	41	27	27	NUM
cblr-2899	386	42	yale	yale	NOUN
cblr-2899	386	43	j.	j.	PROPN
cblr-2899	386	44	on	on	ADP
cblr-2899	386	45	reg	reg	PROPN
cblr-2899	386	46	.	.	PROPN
cblr-2899	387	1	91	91	NUM
cblr-2899	387	2	,	,	PUNCT
cblr-2899	387	3	102	102	NUM
cblr-2899	387	4	(	(	PUNCT
cblr-2899	387	5	2010	2010	NUM
cblr-2899	387	6	)	)	PUNCT
cblr-2899	387	7	.	.	PUNCT
cblr-2899	388	1	112	112	NUM
cblr-2899	388	2	see	see	VERB
cblr-2899	388	3	,	,	PUNCT
cblr-2899	388	4	e.g.	e.g.	ADV
cblr-2899	388	5	,	,	PUNCT
cblr-2899	388	6	maria	maria	PROPN
cblr-2899	388	7	sheahen	sheahen	PROPN
cblr-2899	388	8	&	&	CCONJ
cblr-2899	388	9	kathrin	kathrin	PROPN
cblr-2899	388	10	jones	jones	PROPN
cblr-2899	388	11	europe	europe	PROPN
cblr-2899	388	12	rating	rating	PROPN
cblr-2899	388	13	agency	agency	NOUN
cblr-2899	388	14	would	would	AUX
cblr-2899	388	15	cost	cost	VERB
cblr-2899	388	16	300	300	NUM
cblr-2899	388	17	million	million	NUM
cblr-2899	388	18	euros	euro	NOUN
cblr-2899	388	19	,	,	PUNCT
cblr-2899	388	20	reuters	reuter	NOUN
cblr-2899	388	21	,	,	PUNCT
cblr-2899	388	22	july	july	PROPN
cblr-2899	388	23	18	18	NUM
cblr-2899	388	24	,	,	PUNCT
cblr-2899	388	25	2011	2011	NUM
cblr-2899	388	26	,	,	PUNCT
cblr-2899	388	27	available	available	ADJ
cblr-2899	388	28	at	at	ADP
cblr-2899	388	29	http://www.reuters.com/article/2011/07/18/us-ratings-idustre76h29r20	http://www.reuters.com/article/2011/07/18/us-ratings-idustre76h29r20	NOUN
cblr-2899	388	30	110718	110718	NUM
cblr-2899	388	31	.	.	PUNCT
cblr-2899	389	1	113	113	NUM
cblr-2899	389	2	coffee	coffee	NOUN
cblr-2899	389	3	,	,	PUNCT
cblr-2899	389	4	supra	supra	PROPN
cblr-2899	389	5	note	note	NOUN
cblr-2899	389	6	33	33	NUM
cblr-2899	389	7	,	,	PUNCT
cblr-2899	389	8	at	at	ADP
cblr-2899	389	9	260	260	NUM
cblr-2899	389	10	.	.	PUNCT
cblr-2899	390	1	[	[	X
cblr-2899	390	2	vol	vol	NOUN
cblr-2899	390	3	.	.	PUNCT
cblr-2899	390	4	20121022	20121022	NUM
cblr-2899	390	5	col	col	PROPN
cblr-2899	390	6	umbia	umbia	PROPN
cblr-2899	390	7	b	b	PROPN
cblr-2899	390	8	usiness	usiness	PROPN
cblr-2899	390	9	la	la	PROPN
cblr-2899	390	10	w	w	PROPN
cblr-2899	390	11	re	re	PROPN
cblr-2899	390	12	vie	vie	PROPN
cblr-2899	390	13	w	w	PROPN
cblr-2899	390	14	regula	regula	PROPN
cblr-2899	390	15	ting	te	VERB
cblr-2899	390	16	credit	credit	NOUN
cblr-2899	390	17	rating	rating	NOUN
cblr-2899	390	18	agencies	agency	NOUN
cblr-2899	390	19	powerful	powerful	ADJ
cblr-2899	390	20	entities	entity	NOUN
cblr-2899	390	21	.	.	PUNCT
cblr-2899	391	1	this	this	PRON
cblr-2899	391	2	is	be	AUX
cblr-2899	391	3	similar	similar	ADJ
cblr-2899	391	4	to	to	ADP
cblr-2899	391	5	,	,	PUNCT
cblr-2899	391	6	and	and	CCONJ
cblr-2899	391	7	even	even	ADV
cblr-2899	391	8	more	more	ADV
cblr-2899	391	9	problematic	problematic	ADJ
cblr-2899	391	10	than	than	ADP
cblr-2899	391	11	,	,	PUNCT
cblr-2899	391	12	the	the	DET
cblr-2899	391	13	bias	bias	NOUN
cblr-2899	391	14	concerns	concern	NOUN
cblr-2899	391	15	associated	associate	VERB
cblr-2899	391	16	with	with	ADP
cblr-2899	391	17	the	the	DET
cblr-2899	391	18	franken	franken	PROPN
cblr-2899	391	19	proposal	proposal	NOUN
cblr-2899	391	20	,	,	PUNCT
cblr-2899	391	21	since	since	SCONJ
cblr-2899	391	22	the	the	DET
cblr-2899	391	23	government	government	NOUN
cblr-2899	391	24	entity	entity	NOUN
cblr-2899	391	25	itself	itself	PRON
cblr-2899	391	26	would	would	AUX
cblr-2899	391	27	be	be	AUX
cblr-2899	391	28	issuing	issue	VERB
cblr-2899	391	29	the	the	DET
cblr-2899	391	30	credit	credit	NOUN
cblr-2899	391	31	rating	rating	NOUN
cblr-2899	391	32	,	,	PUNCT
cblr-2899	391	33	not	not	PART
cblr-2899	391	34	just	just	ADV
cblr-2899	391	35	deciding	decide	VERB
cblr-2899	391	36	which	which	PRON
cblr-2899	391	37	cras	cras	PROPN
cblr-2899	391	38	receive	receive	VERB
cblr-2899	391	39	the	the	DET
cblr-2899	391	40	rating	rating	NOUN
cblr-2899	391	41	contract	contract	NOUN
cblr-2899	391	42	.	.	PUNCT
cblr-2899	392	1	illustrating	illustrate	VERB
cblr-2899	392	2	this	this	DET
cblr-2899	392	3	point	point	NOUN
cblr-2899	392	4	,	,	PUNCT
cblr-2899	392	5	professor	professor	NOUN
cblr-2899	392	6	coffee	coffee	NOUN
cblr-2899	392	7	suggests	suggest	VERB
cblr-2899	392	8	that	that	SCONJ
cblr-2899	392	9	the	the	DET
cblr-2899	392	10	idea	idea	NOUN
cblr-2899	392	11	of	of	ADP
cblr-2899	392	12	creating	create	VERB
cblr-2899	392	13	a	a	DET
cblr-2899	392	14	european	european	PROPN
cblr-2899	392	15	cra	cra	PROPN
cblr-2899	392	16	was	be	AUX
cblr-2899	392	17	triggered	trigger	VERB
cblr-2899	392	18	in	in	ADP
cblr-2899	392	19	part	part	NOUN
cblr-2899	392	20	by	by	ADP
cblr-2899	392	21	political	political	ADJ
cblr-2899	392	22	disapproval	disapproval	NOUN
cblr-2899	392	23	of	of	ADP
cblr-2899	392	24	the	the	DET
cblr-2899	392	25	downgrading	downgrading	NOUN
cblr-2899	392	26	of	of	ADP
cblr-2899	392	27	european	european	ADJ
cblr-2899	392	28	sovereign	sovereign	ADJ
cblr-2899	392	29	debt.114	debt.114	NOUN
cblr-2899	392	30	in	in	ADP
cblr-2899	392	31	response	response	NOUN
cblr-2899	392	32	to	to	ADP
cblr-2899	392	33	some	some	PRON
cblr-2899	392	34	of	of	ADP
cblr-2899	392	35	these	these	DET
cblr-2899	392	36	concerns	concern	NOUN
cblr-2899	392	37	,	,	PUNCT
cblr-2899	392	38	a	a	DET
cblr-2899	392	39	"	"	PUNCT
cblr-2899	392	40	government	government	NOUN
cblr-2899	392	41	utility	utility	NOUN
cblr-2899	392	42	model	model	NOUN
cblr-2899	392	43	"	"	PUNCT
cblr-2899	392	44	has	have	AUX
cblr-2899	392	45	been	be	AUX
cblr-2899	392	46	proposed	propose	VERB
cblr-2899	392	47	.	.	PUNCT
cblr-2899	393	1	in	in	ADP
cblr-2899	393	2	this	this	DET
cblr-2899	393	3	model	model	NOUN
cblr-2899	393	4	,	,	PUNCT
cblr-2899	393	5	a	a	DET
cblr-2899	393	6	government	government	NOUN
cblr-2899	393	7	rating	rating	NOUN
cblr-2899	393	8	agency	agency	NOUN
cblr-2899	393	9	would	would	AUX
cblr-2899	393	10	not	not	PART
cblr-2899	393	11	replace	replace	VERB
cblr-2899	393	12	existing	exist	VERB
cblr-2899	393	13	agencies	agency	NOUN
cblr-2899	393	14	but	but	CCONJ
cblr-2899	393	15	simply	simply	ADV
cblr-2899	393	16	add	add	VERB
cblr-2899	393	17	its	its	PRON
cblr-2899	393	18	own	own	ADJ
cblr-2899	393	19	ratings	rating	NOUN
cblr-2899	393	20	to	to	ADP
cblr-2899	393	21	the	the	DET
cblr-2899	393	22	ones	one	NOUN
cblr-2899	393	23	already	already	ADV
cblr-2899	393	24	available	available	ADJ
cblr-2899	393	25	in	in	ADP
cblr-2899	393	26	the	the	DET
cblr-2899	393	27	market	market	NOUN
cblr-2899	393	28	.	.	PUNCT
cblr-2899	394	1	"	"	PUNCT
cblr-2899	394	2	'	'	PUNCT
cblr-2899	394	3	this	this	DET
cblr-2899	394	4	way	way	NOUN
cblr-2899	394	5	,	,	PUNCT
cblr-2899	394	6	the	the	DET
cblr-2899	394	7	investors	investor	NOUN
cblr-2899	394	8	could	could	AUX
cblr-2899	394	9	"	"	PUNCT
cblr-2899	394	10	compare	compare	VERB
cblr-2899	394	11	the	the	DET
cblr-2899	394	12	moody	moody	NOUN
cblr-2899	394	13	's	's	PART
cblr-2899	394	14	or	or	CCONJ
cblr-2899	394	15	s&p	s&p	PROPN
cblr-2899	394	16	rating	rating	NOUN
cblr-2899	394	17	against	against	ADP
cblr-2899	394	18	the	the	DET
cblr-2899	394	19	governmental	governmental	ADJ
cblr-2899	394	20	rating	rating	NOUN
cblr-2899	394	21	.	.	PUNCT
cblr-2899	395	1	"'16	"'16	NOUN
cblr-2899	395	2	however	however	ADV
cblr-2899	395	3	,	,	PUNCT
cblr-2899	395	4	if	if	SCONJ
cblr-2899	395	5	the	the	DET
cblr-2899	395	6	government	government	NOUN
cblr-2899	395	7	ratings	rating	NOUN
cblr-2899	395	8	are	be	AUX
cblr-2899	395	9	less	less	ADV
cblr-2899	395	10	reliable	reliable	ADJ
cblr-2899	395	11	as	as	ADP
cblr-2899	395	12	a	a	DET
cblr-2899	395	13	result	result	NOUN
cblr-2899	395	14	of	of	ADP
cblr-2899	395	15	inferior	inferior	ADJ
cblr-2899	395	16	skill	skill	NOUN
cblr-2899	395	17	,	,	PUNCT
cblr-2899	395	18	political	political	ADJ
cblr-2899	395	19	pressure	pressure	NOUN
cblr-2899	395	20	,	,	PUNCT
cblr-2899	395	21	and	and	CCONJ
cblr-2899	395	22	all	all	DET
cblr-2899	395	23	the	the	DET
cblr-2899	395	24	other	other	ADJ
cblr-2899	395	25	reasons	reason	NOUN
cblr-2899	395	26	mentioned	mention	VERB
cblr-2899	395	27	above	above	ADV
cblr-2899	395	28	,	,	PUNCT
cblr-2899	395	29	any	any	DET
cblr-2899	395	30	value	value	NOUN
cblr-2899	395	31	in	in	ADP
cblr-2899	395	32	comparing	compare	VERB
cblr-2899	395	33	them	they	PRON
cblr-2899	395	34	to	to	ADP
cblr-2899	395	35	other	other	ADJ
cblr-2899	395	36	credit	credit	NOUN
cblr-2899	395	37	ratings	rating	NOUN
cblr-2899	395	38	will	will	AUX
cblr-2899	395	39	be	be	AUX
cblr-2899	395	40	lost	lose	VERB
cblr-2899	395	41	and	and	CCONJ
cblr-2899	395	42	rendered	render	VERB
cblr-2899	395	43	meaningless	meaningless	ADJ
cblr-2899	395	44	.	.	PUNCT
cblr-2899	396	1	b.	b.	PROPN
cblr-2899	396	2	return	return	NOUN
cblr-2899	396	3	to	to	ADP
cblr-2899	396	4	investor	investor	NOUN
cblr-2899	396	5	-	-	PUNCT
cblr-2899	396	6	pays	pay	NOUN
cblr-2899	396	7	model	model	NOUN
cblr-2899	396	8	perhaps	perhaps	ADV
cblr-2899	396	9	the	the	DET
cblr-2899	396	10	most	most	ADV
cblr-2899	396	11	common	common	ADJ
cblr-2899	396	12	alternative	alternative	NOUN
cblr-2899	396	13	proposed	propose	VERB
cblr-2899	396	14	is	be	AUX
cblr-2899	396	15	a	a	DET
cblr-2899	396	16	return	return	NOUN
cblr-2899	396	17	to	to	ADP
cblr-2899	396	18	the	the	DET
cblr-2899	396	19	investor	investor	NOUN
cblr-2899	396	20	-	-	PUNCT
cblr-2899	396	21	pays	pay	NOUN
cblr-2899	396	22	model	model	NOUN
cblr-2899	396	23	,	,	PUNCT
cblr-2899	396	24	under	under	ADP
cblr-2899	396	25	which	which	PRON
cblr-2899	396	26	cras	cras	PROPN
cblr-2899	396	27	originally	originally	ADV
cblr-2899	396	28	operated	operate	VERB
cblr-2899	396	29	.	.	PUNCT
cblr-2899	397	1	in	in	ADP
cblr-2899	397	2	its	its	PRON
cblr-2899	397	3	most	most	ADV
cblr-2899	397	4	basic	basic	ADJ
cblr-2899	397	5	form	form	NOUN
cblr-2899	397	6	,	,	PUNCT
cblr-2899	397	7	this	this	DET
cblr-2899	397	8	model	model	NOUN
cblr-2899	397	9	would	would	AUX
cblr-2899	397	10	require	require	VERB
cblr-2899	397	11	every	every	DET
cblr-2899	397	12	institutional	institutional	ADJ
cblr-2899	397	13	investor	investor	NOUN
cblr-2899	397	14	to	to	PART
cblr-2899	397	15	purchase	purchase	VERB
cblr-2899	397	16	its	its	PRON
cblr-2899	397	17	own	own	ADJ
cblr-2899	397	18	ratings	rating	NOUN
cblr-2899	397	19	from	from	ADP
cblr-2899	397	20	a	a	DET
cblr-2899	397	21	rating	rating	NOUN
cblr-2899	397	22	agency	agency	NOUN
cblr-2899	397	23	of	of	ADP
cblr-2899	397	24	its	its	PRON
cblr-2899	397	25	choice	choice	NOUN
cblr-2899	397	26	before	before	ADP
cblr-2899	397	27	purchasing	purchase	VERB
cblr-2899	397	28	a	a	DET
cblr-2899	397	29	debt	debt	NOUN
cblr-2899	397	30	security	security	NOUN
cblr-2899	397	31	.	.	PUNCT
cblr-2899	398	1	the	the	DET
cblr-2899	398	2	goal	goal	NOUN
cblr-2899	398	3	of	of	ADP
cblr-2899	398	4	this	this	DET
cblr-2899	398	5	model	model	NOUN
cblr-2899	398	6	is	be	AUX
cblr-2899	398	7	to	to	PART
cblr-2899	398	8	induce	induce	VERB
cblr-2899	398	9	cras	cra	NOUN
cblr-2899	398	10	to	to	PART
cblr-2899	398	11	compete	compete	VERB
cblr-2899	398	12	for	for	ADP
cblr-2899	398	13	investor	investor	NOUN
cblr-2899	398	14	favor	favor	NOUN
cblr-2899	398	15	,	,	PUNCT
cblr-2899	398	16	thus	thus	ADV
cblr-2899	398	17	avoiding	avoid	VERB
cblr-2899	398	18	the	the	DET
cblr-2899	398	19	issuer	issuer	NOUN
cblr-2899	398	20	-	-	PUNCT
cblr-2899	398	21	pays	pay	VERB
cblr-2899	398	22	conflict	conflict	NOUN
cblr-2899	398	23	of	of	ADP
cblr-2899	398	24	interest	interest	NOUN
cblr-2899	398	25	.	.	PUNCT
cblr-2899	399	1	the	the	DET
cblr-2899	399	2	classic	classic	ADJ
cblr-2899	399	3	problem	problem	NOUN
cblr-2899	399	4	with	with	ADP
cblr-2899	399	5	the	the	DET
cblr-2899	399	6	investor	investor	NOUN
cblr-2899	399	7	-	-	PUNCT
cblr-2899	399	8	pays	pay	NOUN
cblr-2899	399	9	setup	setup	NOUN
cblr-2899	399	10	,	,	PUNCT
cblr-2899	399	11	which	which	PRON
cblr-2899	399	12	led	lead	VERB
cblr-2899	399	13	the	the	DET
cblr-2899	399	14	cras	cras	X
cblr-2899	399	15	to	to	PART
cblr-2899	399	16	move	move	VERB
cblr-2899	399	17	away	away	ADV
cblr-2899	399	18	from	from	ADP
cblr-2899	399	19	this	this	DET
cblr-2899	399	20	structure	structure	NOUN
cblr-2899	399	21	in	in	ADP
cblr-2899	399	22	the	the	DET
cblr-2899	399	23	first	first	ADJ
cblr-2899	399	24	place	place	NOUN
cblr-2899	399	25	,	,	PUNCT
cblr-2899	399	26	is	be	AUX
cblr-2899	399	27	the	the	DET
cblr-2899	399	28	potential	potential	NOUN
cblr-2899	399	29	for	for	ADP
cblr-2899	399	30	free	free	ADJ
cblr-2899	399	31	riding.11	riding.11	NOUN
cblr-2899	399	32	7	7	NUM
cblr-2899	399	33	after	after	ADP
cblr-2899	399	34	buying	buy	VERB
cblr-2899	399	35	a	a	DET
cblr-2899	399	36	rating	rating	NOUN
cblr-2899	399	37	,	,	PUNCT
cblr-2899	399	38	an	an	DET
cblr-2899	399	39	investor	investor	NOUN
cblr-2899	399	40	could	could	AUX
cblr-2899	399	41	re	re	AUX
cblr-2899	399	42	sell	sell	VERB
cblr-2899	399	43	or	or	CCONJ
cblr-2899	399	44	leak	leak	VERB
cblr-2899	399	45	the	the	DET
cblr-2899	399	46	information	information	NOUN
cblr-2899	399	47	to	to	ADP
cblr-2899	399	48	other	other	ADJ
cblr-2899	399	49	investors	investor	NOUN
cblr-2899	399	50	,	,	PUNCT
cblr-2899	399	51	who	who	PRON
cblr-2899	399	52	would	would	AUX
cblr-2899	399	53	then	then	ADV
cblr-2899	399	54	in	in	ADP
cblr-2899	399	55	turn	turn	NOUN
cblr-2899	399	56	re	re	AUX
cblr-2899	399	57	sell	sell	VERB
cblr-2899	399	58	or	or	CCONJ
cblr-2899	399	59	leak	leak	VERB
cblr-2899	399	60	it	it	PRON
cblr-2899	399	61	to	to	ADP
cblr-2899	399	62	114	114	NUM
cblr-2899	399	63	coffee	coffee	NOUN
cblr-2899	399	64	,	,	PUNCT
cblr-2899	399	65	supra	supra	PROPN
cblr-2899	399	66	note	note	NOUN
cblr-2899	399	67	33	33	NUM
cblr-2899	399	68	,	,	PUNCT
cblr-2899	399	69	at	at	ADP
cblr-2899	399	70	261	261	NUM
cblr-2899	399	71	.	.	NOUN
cblr-2899	400	1	115	115	NUM
cblr-2899	400	2	oecd	oecd	PROPN
cblr-2899	400	3	hearing	hearing	NOUN
cblr-2899	400	4	,	,	PUNCT
cblr-2899	400	5	supra	supra	PROPN
cblr-2899	400	6	note	note	NOUN
cblr-2899	400	7	4	4	NUM
cblr-2899	400	8	,	,	PUNCT
cblr-2899	400	9	at	at	ADP
cblr-2899	400	10	12	12	NUM
cblr-2899	400	11	.	.	PUNCT
cblr-2899	400	12	116	116	NUM
cblr-2899	400	13	coffee	coffee	NOUN
cblr-2899	400	14	,	,	PUNCT
cblr-2899	400	15	supra	supra	PROPN
cblr-2899	400	16	note	note	NOUN
cblr-2899	400	17	33	33	NUM
cblr-2899	400	18	,	,	PUNCT
cblr-2899	400	19	at	at	ADP
cblr-2899	400	20	257	257	NUM
cblr-2899	400	21	.	.	PUNCT
cblr-2899	401	1	117	117	NUM
cblr-2899	402	1	i	i	PROPN
cblr-2899	402	2	d.	d.	PROPN
cblr-2899	402	3	no	no	INTJ
cblr-2899	402	4	.	.	PUNCT
cblr-2899	403	1	3:994	3:994	NUM
cblr-2899	403	2	]	]	PUNCT
cblr-2899	403	3	1023	1023	NUM
cblr-2899	403	4	others	other	NOUN
cblr-2899	403	5	-	-	PUNCT
cblr-2899	403	6	effectively	effectively	ADV
cblr-2899	403	7	disgorging	disgorge	VERB
cblr-2899	403	8	the	the	DET
cblr-2899	403	9	cras	cra	NOUN
cblr-2899	403	10	of	of	ADP
cblr-2899	403	11	their	their	PRON
cblr-2899	403	12	profits	profit	NOUN
cblr-2899	403	13	.	.	PUNCT
cblr-2899	403	14	'	'	PUNCT
cblr-2899	404	1	one	one	NUM
cblr-2899	404	2	way	way	NOUN
cblr-2899	404	3	to	to	PART
cblr-2899	404	4	deal	deal	VERB
cblr-2899	404	5	with	with	ADP
cblr-2899	404	6	this	this	DET
cblr-2899	404	7	problem	problem	NOUN
cblr-2899	404	8	is	be	AUX
cblr-2899	404	9	to	to	PART
cblr-2899	404	10	simply	simply	ADV
cblr-2899	404	11	mandate	mandate	VERB
cblr-2899	404	12	that	that	SCONJ
cblr-2899	404	13	"	"	PUNCT
cblr-2899	404	14	substantial	substantial	ADJ
cblr-2899	404	15	"	"	PUNCT
cblr-2899	404	16	institutional	institutional	ADJ
cblr-2899	404	17	investors	investor	NOUN
cblr-2899	404	18	hire	hire	VERB
cblr-2899	404	19	and	and	CCONJ
cblr-2899	404	20	pay	pay	VERB
cblr-2899	404	21	for	for	ADP
cblr-2899	404	22	the	the	DET
cblr-2899	404	23	ratings.119	ratings.119	NOUN
cblr-2899	404	24	however	however	ADV
cblr-2899	404	25	,	,	PUNCT
cblr-2899	404	26	as	as	SCONJ
cblr-2899	404	27	professor	professor	NOUN
cblr-2899	404	28	coffee	coffee	NOUN
cblr-2899	404	29	points	point	VERB
cblr-2899	404	30	out	out	ADP
cblr-2899	404	31	,	,	PUNCT
cblr-2899	404	32	proposals	proposal	NOUN
cblr-2899	404	33	that	that	PRON
cblr-2899	404	34	affirmatively	affirmatively	ADV
cblr-2899	404	35	require	require	VERB
cblr-2899	404	36	investors	investor	NOUN
cblr-2899	404	37	to	to	PART
cblr-2899	404	38	take	take	VERB
cblr-2899	404	39	action	action	NOUN
cblr-2899	404	40	would	would	AUX
cblr-2899	404	41	extend	extend	VERB
cblr-2899	404	42	the	the	DET
cblr-2899	404	43	sec	sec	PROPN
cblr-2899	404	44	's	's	PART
cblr-2899	404	45	power	power	NOUN
cblr-2899	404	46	from	from	ADP
cblr-2899	404	47	regulating	regulate	VERB
cblr-2899	404	48	the	the	DET
cblr-2899	404	49	behavior	behavior	NOUN
cblr-2899	404	50	of	of	ADP
cblr-2899	404	51	some	some	DET
cblr-2899	404	52	select	select	ADJ
cblr-2899	404	53	individual	individual	ADJ
cblr-2899	404	54	institutions	institution	NOUN
cblr-2899	404	55	to	to	PART
cblr-2899	404	56	regulating	regulate	VERB
cblr-2899	404	57	the	the	DET
cblr-2899	404	58	behavior	behavior	NOUN
cblr-2899	404	59	of	of	ADP
cblr-2899	404	60	investors	investor	NOUN
cblr-2899	404	61	as	as	ADP
cblr-2899	404	62	a	a	DET
cblr-2899	404	63	group	group	NOUN
cblr-2899	404	64	.	.	PUNCT
cblr-2899	405	1	120	120	NUM
cblr-2899	405	2	such	such	DET
cblr-2899	405	3	an	an	DET
cblr-2899	405	4	enlargement	enlargement	NOUN
cblr-2899	405	5	of	of	ADP
cblr-2899	405	6	centralized	centralized	ADJ
cblr-2899	405	7	power	power	NOUN
cblr-2899	405	8	could	could	AUX
cblr-2899	405	9	be	be	AUX
cblr-2899	405	10	met	meet	VERB
cblr-2899	405	11	with	with	ADP
cblr-2899	405	12	fierce	fierce	ADJ
cblr-2899	405	13	opposition	opposition	NOUN
cblr-2899	405	14	.	.	PUNCT
cblr-2899	406	1	investors	investor	NOUN
cblr-2899	406	2	are	be	AUX
cblr-2899	406	3	also	also	ADV
cblr-2899	406	4	likely	likely	ADJ
cblr-2899	406	5	to	to	PART
cblr-2899	406	6	resist	resist	VERB
cblr-2899	406	7	having	have	VERB
cblr-2899	406	8	to	to	PART
cblr-2899	406	9	pay	pay	VERB
cblr-2899	406	10	for	for	ADP
cblr-2899	406	11	the	the	DET
cblr-2899	406	12	ratings	rating	NOUN
cblr-2899	406	13	and	and	CCONJ
cblr-2899	406	14	could	could	AUX
cblr-2899	406	15	constitute	constitute	VERB
cblr-2899	406	16	a	a	DET
cblr-2899	406	17	powerful	powerful	ADJ
cblr-2899	406	18	political	political	ADJ
cblr-2899	406	19	lobby	lobby	NOUN
cblr-2899	406	20	against	against	ADP
cblr-2899	406	21	such	such	DET
cblr-2899	406	22	a	a	DET
cblr-2899	406	23	reform	reform	NOUN
cblr-2899	406	24	.	.	PUNCT
cblr-2899	407	1	121	121	NUM
cblr-2899	407	2	additionally	additionally	ADV
cblr-2899	407	3	,	,	PUNCT
cblr-2899	407	4	the	the	DET
cblr-2899	407	5	investor	investor	NOUN
cblr-2899	407	6	-	-	PUNCT
cblr-2899	407	7	pays	pay	NOUN
cblr-2899	407	8	model	model	NOUN
cblr-2899	407	9	may	may	AUX
cblr-2899	407	10	not	not	PART
cblr-2899	407	11	solve	solve	VERB
cblr-2899	407	12	the	the	DET
cblr-2899	407	13	incentive	incentive	NOUN
cblr-2899	407	14	problems	problem	NOUN
cblr-2899	407	15	that	that	PRON
cblr-2899	407	16	currently	currently	ADV
cblr-2899	407	17	haunt	haunt	VERB
cblr-2899	407	18	the	the	DET
cblr-2899	407	19	industry	industry	NOUN
cblr-2899	407	20	as	as	SCONJ
cblr-2899	407	21	investors	investor	NOUN
cblr-2899	407	22	suffer	suffer	VERB
cblr-2899	407	23	from	from	ADP
cblr-2899	407	24	their	their	PRON
cblr-2899	407	25	own	own	ADJ
cblr-2899	407	26	conflicts	conflict	NOUN
cblr-2899	407	27	of	of	ADP
cblr-2899	407	28	interest	interest	NOUN
cblr-2899	407	29	.	.	PUNCT
cblr-2899	408	1	122	122	NUM
cblr-2899	408	2	many	many	ADJ
cblr-2899	408	3	institutional	institutional	ADJ
cblr-2899	408	4	investors	investor	NOUN
cblr-2899	408	5	can	can	AUX
cblr-2899	408	6	only	only	ADV
cblr-2899	408	7	hold	hold	VERB
cblr-2899	408	8	investment	investment	NOUN
cblr-2899	408	9	-	-	PUNCT
cblr-2899	408	10	grade	grade	NOUN
cblr-2899	408	11	securities	security	NOUN
cblr-2899	408	12	,	,	PUNCT
cblr-2899	408	13	so	so	ADV
cblr-2899	408	14	inflated	inflated	ADJ
cblr-2899	408	15	ratings	rating	NOUN
cblr-2899	408	16	offer	offer	VERB
cblr-2899	408	17	them	they	PRON
cblr-2899	408	18	the	the	DET
cblr-2899	408	19	opportunity	opportunity	NOUN
cblr-2899	408	20	to	to	PART
cblr-2899	408	21	purchase	purchase	VERB
cblr-2899	408	22	riskier	risky	ADJ
cblr-2899	408	23	,	,	PUNCT
cblr-2899	408	24	and	and	CCONJ
cblr-2899	408	25	thus	thus	ADV
cblr-2899	408	26	higher	higher	ADV
cblr-2899	408	27	-	-	PUNCT
cblr-2899	408	28	yielding	yield	VERB
cblr-2899	408	29	,	,	PUNCT
cblr-2899	408	30	securities.123	securities.123	VERB
cblr-2899	408	31	alternatively	alternatively	ADV
cblr-2899	408	32	,	,	PUNCT
cblr-2899	408	33	before	before	SCONJ
cblr-2899	408	34	the	the	DET
cblr-2899	408	35	securities	security	NOUN
cblr-2899	408	36	are	be	AUX
cblr-2899	408	37	issued	issue	VERB
cblr-2899	408	38	,	,	PUNCT
cblr-2899	408	39	some	some	DET
cblr-2899	408	40	investors	investor	NOUN
cblr-2899	408	41	would	would	AUX
cblr-2899	408	42	prefer	prefer	VERB
cblr-2899	408	43	more	more	ADJ
cblr-2899	408	44	conservative	conservative	ADJ
cblr-2899	408	45	ratings	rating	NOUN
cblr-2899	408	46	so	so	SCONJ
cblr-2899	408	47	they	they	PRON
cblr-2899	408	48	could	could	AUX
cblr-2899	408	49	purchase	purchase	VERB
cblr-2899	408	50	the	the	DET
cblr-2899	408	51	securities	security	NOUN
cblr-2899	408	52	at	at	ADP
cblr-2899	408	53	depressed	depressed	ADJ
cblr-2899	408	54	and	and	CCONJ
cblr-2899	408	55	undervalued	undervalued	ADJ
cblr-2899	408	56	prices	price	NOUN
cblr-2899	408	57	.	.	PUNCT
cblr-2899	409	1	24	24	NUM
cblr-2899	409	2	as	as	SCONJ
cblr-2899	409	3	emphasized	emphasize	VERB
cblr-2899	409	4	above	above	ADV
cblr-2899	409	5	,	,	PUNCT
cblr-2899	409	6	in	in	ADP
cblr-2899	409	7	a	a	DET
cblr-2899	409	8	market	market	NOUN
cblr-2899	409	9	bubble	bubble	NOUN
cblr-2899	409	10	no	no	DET
cblr-2899	409	11	player	player	NOUN
cblr-2899	409	12	has	have	VERB
cblr-2899	409	13	a	a	DET
cblr-2899	409	14	strong	strong	ADJ
cblr-2899	409	15	incentive	incentive	NOUN
cblr-2899	409	16	to	to	PART
cblr-2899	409	17	learn	learn	VERB
cblr-2899	409	18	the	the	DET
cblr-2899	409	19	truth	truth	NOUN
cblr-2899	409	20	,	,	PUNCT
cblr-2899	409	21	so	so	ADV
cblr-2899	409	22	118	118	NUM
cblr-2899	409	23	coffee	coffee	NOUN
cblr-2899	409	24	,	,	PUNCT
cblr-2899	409	25	supra	supra	PROPN
cblr-2899	409	26	note	note	NOUN
cblr-2899	409	27	33	33	NUM
cblr-2899	409	28	,	,	PUNCT
cblr-2899	409	29	at	at	ADP
cblr-2899	409	30	257	257	NUM
cblr-2899	409	31	.	.	PUNCT
cblr-2899	410	1	119	119	NUM
cblr-2899	411	1	i	i	PRON
cblr-2899	411	2	d.	d.	NOUN
cblr-2899	411	3	at	at	ADP
cblr-2899	411	4	258	258	NUM
cblr-2899	411	5	-	-	SYM
cblr-2899	411	6	59	59	NUM
cblr-2899	411	7	.	.	PUNCT
cblr-2899	411	8	120	120	NUM
cblr-2899	412	1	i	i	PRON
cblr-2899	412	2	d.	d.	PROPN
cblr-2899	412	3	at	at	ADP
cblr-2899	412	4	259	259	NUM
cblr-2899	412	5	n.72	n.72	PROPN
cblr-2899	412	6	.	.	PROPN
cblr-2899	412	7	121	121	NUM
cblr-2899	413	1	i	i	PROPN
cblr-2899	413	2	d.	d.	PROPN
cblr-2899	413	3	122	122	NUM
cblr-2899	413	4	richardson	richardson	PROPN
cblr-2899	413	5	&	&	CCONJ
cblr-2899	413	6	white	white	PROPN
cblr-2899	413	7	,	,	PUNCT
cblr-2899	413	8	supra	supra	PROPN
cblr-2899	413	9	note	note	NOUN
cblr-2899	413	10	25	25	NUM
cblr-2899	413	11	,	,	PUNCT
cblr-2899	413	12	at	at	ADP
cblr-2899	413	13	107	107	NUM
cblr-2899	413	14	.	.	PUNCT
cblr-2899	414	1	123	123	NUM
cblr-2899	414	2	i	i	PRON
cblr-2899	414	3	d.	d.	PROPN
cblr-2899	414	4	at	at	ADP
cblr-2899	414	5	105	105	NUM
cblr-2899	414	6	(	(	PUNCT
cblr-2899	414	7	"	"	PUNCT
cblr-2899	414	8	further	far	ADV
cblr-2899	414	9	,	,	PUNCT
cblr-2899	414	10	if	if	SCONJ
cblr-2899	414	11	(	(	PUNCT
cblr-2899	414	12	subsequent	subsequent	ADJ
cblr-2899	414	13	to	to	ADP
cblr-2899	414	14	issuance	issuance	NOUN
cblr-2899	414	15	)	)	PUNCT
cblr-2899	415	1	the	the	DET
cblr-2899	415	2	bond	bond	NOUN
cblr-2899	415	3	markets	market	NOUN
cblr-2899	415	4	realize	realize	VERB
cblr-2899	415	5	that	that	SCONJ
cblr-2899	415	6	the	the	DET
cblr-2899	415	7	rating	rating	NOUN
cblr-2899	415	8	offered	offer	VERB
cblr-2899	415	9	by	by	ADP
cblr-2899	415	10	a	a	DET
cblr-2899	415	11	nrsro	nrsro	NOUN
cblr-2899	415	12	is	be	AUX
cblr-2899	415	13	too	too	ADV
cblr-2899	415	14	optimistic	optimistic	ADJ
cblr-2899	415	15	,	,	PUNCT
cblr-2899	415	16	which	which	PRON
cblr-2899	415	17	causes	cause	VERB
cblr-2899	415	18	the	the	DET
cblr-2899	415	19	markets	market	NOUN
cblr-2899	415	20	to	to	PART
cblr-2899	415	21	reprice	reprice	VERB
cblr-2899	415	22	the	the	DET
cblr-2899	415	23	bond	bond	NOUN
cblr-2899	415	24	downward	downward	ADV
cblr-2899	415	25	and	and	CCONJ
cblr-2899	415	26	thus	thus	ADV
cblr-2899	415	27	increase	increase	VERB
cblr-2899	415	28	its	its	PRON
cblr-2899	415	29	yield	yield	NOUN
cblr-2899	415	30	,	,	PUNCT
cblr-2899	415	31	then	then	ADV
cblr-2899	415	32	a	a	DET
cblr-2899	415	33	bank	bank	NOUN
cblr-2899	415	34	that	that	PRON
cblr-2899	415	35	wishes	wish	VERB
cblr-2899	415	36	to	to	PART
cblr-2899	415	37	increase	increase	VERB
cblr-2899	415	38	its	its	PRON
cblr-2899	415	39	risk	risk	NOUN
cblr-2899	415	40	profile	profile	NOUN
cblr-2899	415	41	can	can	AUX
cblr-2899	415	42	invest	invest	VERB
cblr-2899	415	43	in	in	ADP
cblr-2899	415	44	that	that	DET
cblr-2899	415	45	higher	higher	ADV
cblr-2899	415	46	-	-	PUNCT
cblr-2899	415	47	yielding	yield	VERB
cblr-2899	415	48	(	(	PUNCT
cblr-2899	415	49	but	but	CCONJ
cblr-2899	415	50	riskier	risky	ADJ
cblr-2899	415	51	)	)	PUNCT
cblr-2899	415	52	bond	bond	NOUN
cblr-2899	415	53	but	but	CCONJ
cblr-2899	415	54	can	can	AUX
cblr-2899	415	55	still	still	ADV
cblr-2899	415	56	appear	appear	VERB
cblr-2899	415	57	to	to	PART
cblr-2899	415	58	be	be	AUX
cblr-2899	415	59	adhering	adhere	VERB
cblr-2899	415	60	to	to	ADP
cblr-2899	415	61	its	its	PRON
cblr-2899	415	62	regulator	regulator	NOUN
cblr-2899	415	63	's	's	PART
cblr-2899	415	64	safety	safety	NOUN
cblr-2899	415	65	standards	standard	NOUN
cblr-2899	415	66	because	because	SCONJ
cblr-2899	415	67	of	of	ADP
cblr-2899	415	68	the	the	DET
cblr-2899	415	69	nrsro	nrsro	NOUN
cblr-2899	415	70	's	's	PART
cblr-2899	415	71	(	(	PUNCT
cblr-2899	415	72	excessively	excessively	ADV
cblr-2899	415	73	optimistic	optimistic	ADJ
cblr-2899	415	74	)	)	PUNCT
cblr-2899	415	75	rating	rating	NOUN
cblr-2899	415	76	.	.	PUNCT
cblr-2899	415	77	"	"	PUNCT
cblr-2899	415	78	)	)	PUNCT
cblr-2899	415	79	.	.	PUNCT
cblr-2899	416	1	124	124	NUM
cblr-2899	417	1	i	i	PRON
cblr-2899	417	2	d.	d.	PROPN
cblr-2899	417	3	at	at	ADP
cblr-2899	417	4	107	107	NUM
cblr-2899	417	5	(	(	PUNCT
cblr-2899	417	6	arguing	argue	VERB
cblr-2899	417	7	that	that	SCONJ
cblr-2899	417	8	investors	investor	NOUN
cblr-2899	417	9	prefer	prefer	VERB
cblr-2899	417	10	lower	low	ADJ
cblr-2899	417	11	ratings	rating	NOUN
cblr-2899	417	12	at	at	ADP
cblr-2899	417	13	the	the	DET
cblr-2899	417	14	time	time	NOUN
cblr-2899	417	15	of	of	ADP
cblr-2899	417	16	issuance	issuance	NOUN
cblr-2899	417	17	since	since	SCONJ
cblr-2899	417	18	they	they	PRON
cblr-2899	417	19	will	will	AUX
cblr-2899	417	20	receive	receive	VERB
cblr-2899	417	21	higher	high	ADJ
cblr-2899	417	22	returns	return	NOUN
cblr-2899	417	23	,	,	PUNCT
cblr-2899	417	24	as	as	SCONJ
cblr-2899	417	25	would	would	AUX
cblr-2899	417	26	short	short	ADJ
cblr-2899	417	27	sellers	seller	NOUN
cblr-2899	417	28	of	of	ADP
cblr-2899	417	29	any	any	DET
cblr-2899	417	30	security	security	NOUN
cblr-2899	417	31	,	,	PUNCT
cblr-2899	417	32	but	but	CCONJ
cblr-2899	417	33	at	at	ADP
cblr-2899	417	34	the	the	DET
cblr-2899	417	35	time	time	NOUN
cblr-2899	417	36	of	of	ADP
cblr-2899	417	37	subsequent	subsequent	ADJ
cblr-2899	417	38	ratings	rating	NOUN
cblr-2899	417	39	changes	change	NOUN
cblr-2899	417	40	,	,	PUNCT
cblr-2899	417	41	investors	investor	NOUN
cblr-2899	417	42	who	who	PRON
cblr-2899	417	43	already	already	ADV
cblr-2899	417	44	hold	hold	VERB
cblr-2899	417	45	the	the	DET
cblr-2899	417	46	bonds	bond	NOUN
cblr-2899	417	47	would	would	AUX
cblr-2899	417	48	favor	favor	VERB
cblr-2899	417	49	upgrades	upgrade	NOUN
cblr-2899	417	50	and	and	CCONJ
cblr-2899	417	51	disfavor	disfavor	NOUN
cblr-2899	417	52	downgrades	downgrade	NOUN
cblr-2899	417	53	,	,	PUNCT
cblr-2899	417	54	whereas	whereas	SCONJ
cblr-2899	417	55	short	short	ADJ
cblr-2899	417	56	sellers	seller	NOUN
cblr-2899	417	57	prefer	prefer	VERB
cblr-2899	417	58	the	the	DET
cblr-2899	417	59	opposite	opposite	NOUN
cblr-2899	417	60	)	)	PUNCT
cblr-2899	417	61	.	.	PUNCT
cblr-2899	418	1	[	[	X
cblr-2899	418	2	vol	vol	NOUN
cblr-2899	418	3	.	.	PUNCT
cblr-2899	418	4	20121024	20121024	NUM
cblr-2899	418	5	col	col	PROPN
cblr-2899	418	6	umbia	umbia	PROPN
cblr-2899	418	7	b	b	PROPN
cblr-2899	418	8	usiness	usiness	PROPN
cblr-2899	418	9	la	la	PROPN
cblr-2899	418	10	w	w	PROPN
cblr-2899	418	11	re	re	PROPN
cblr-2899	418	12	vie	vie	PROPN
cblr-2899	418	13	w	w	PROPN
cblr-2899	418	14	competition	competition	NOUN
cblr-2899	418	15	will	will	AUX
cblr-2899	418	16	once	once	ADV
cblr-2899	418	17	again	again	ADV
cblr-2899	418	18	be	be	AUX
cblr-2899	418	19	distorted.12	distorted.12	NOUN
cblr-2899	418	20	5	5	NUM
cblr-2899	418	21	however	however	ADV
cblr-2899	418	22	,	,	PUNCT
cblr-2899	418	23	there	there	PRON
cblr-2899	418	24	is	be	VERB
cblr-2899	418	25	general	general	ADJ
cblr-2899	418	26	agreement	agreement	NOUN
cblr-2899	418	27	in	in	ADP
cblr-2899	418	28	the	the	DET
cblr-2899	418	29	literature	literature	NOUN
cblr-2899	418	30	that	that	SCONJ
cblr-2899	418	31	"	"	PUNCT
cblr-2899	418	32	these	these	DET
cblr-2899	418	33	potential	potential	ADJ
cblr-2899	418	34	[	[	X
cblr-2899	418	35	investor	investor	NOUN
cblr-2899	418	36	]	]	PUNCT
cblr-2899	418	37	conflicts	conflict	NOUN
cblr-2899	418	38	seem	seem	VERB
cblr-2899	418	39	much	much	ADV
cblr-2899	418	40	less	less	ADV
cblr-2899	418	41	severe	severe	ADJ
cblr-2899	418	42	than	than	ADP
cblr-2899	418	43	those	those	PRON
cblr-2899	418	44	of	of	ADP
cblr-2899	418	45	the	the	DET
cblr-2899	418	46	issuer	issuer	NOUN
cblr-2899	418	47	-	-	PUNCT
cblr-2899	418	48	pays	pay	NOUN
cblr-2899	418	49	model	model	NOUN
cblr-2899	418	50	.	.	PUNCT
cblr-2899	419	1	"12	"12	PROPN
cblr-2899	419	2	6	6	NUM
cblr-2899	419	3	another	another	DET
cblr-2899	419	4	significant	significant	ADJ
cblr-2899	419	5	drawback	drawback	NOUN
cblr-2899	419	6	with	with	ADP
cblr-2899	419	7	the	the	DET
cblr-2899	419	8	investor	investor	NOUN
cblr-2899	419	9	-	-	PUNCT
cblr-2899	419	10	pays	pay	NOUN
cblr-2899	419	11	approach	approach	NOUN
cblr-2899	419	12	is	be	AUX
cblr-2899	419	13	the	the	DET
cblr-2899	419	14	danger	danger	NOUN
cblr-2899	419	15	of	of	ADP
cblr-2899	419	16	implicit	implicit	ADJ
cblr-2899	419	17	collusion	collusion	NOUN
cblr-2899	419	18	between	between	ADP
cblr-2899	419	19	issuers	issuer	NOUN
cblr-2899	419	20	and	and	CCONJ
cblr-2899	419	21	cras	cras	X
cblr-2899	419	22	through	through	ADP
cblr-2899	419	23	bribes	bribe	NOUN
cblr-2899	419	24	or	or	CCONJ
cblr-2899	419	25	bonus	bonus	NOUN
cblr-2899	419	26	payments	payment	NOUN
cblr-2899	419	27	that	that	PRON
cblr-2899	419	28	sidestep	sidestep	VERB
cblr-2899	419	29	the	the	DET
cblr-2899	419	30	investors	investor	NOUN
cblr-2899	419	31	,	,	PUNCT
cblr-2899	419	32	even	even	ADV
cblr-2899	419	33	though	though	SCONJ
cblr-2899	419	34	the	the	DET
cblr-2899	419	35	investors	investor	NOUN
cblr-2899	419	36	are	be	AUX
cblr-2899	419	37	still	still	ADV
cblr-2899	419	38	the	the	DET
cblr-2899	419	39	nominal	nominal	ADJ
cblr-2899	419	40	payers	payer	NOUN
cblr-2899	419	41	.	.	PUNCT
cblr-2899	420	1	additionally	additionally	ADV
cblr-2899	420	2	,	,	PUNCT
cblr-2899	420	3	there	there	PRON
cblr-2899	420	4	is	be	VERB
cblr-2899	420	5	the	the	DET
cblr-2899	420	6	possibility	possibility	NOUN
cblr-2899	420	7	of	of	ADP
cblr-2899	420	8	issuers	issuer	NOUN
cblr-2899	420	9	influencing	influence	VERB
cblr-2899	420	10	investor	investor	NOUN
cblr-2899	420	11	choice	choice	NOUN
cblr-2899	420	12	by	by	ADP
cblr-2899	420	13	offering	offer	VERB
cblr-2899	420	14	reimbursement	reimbursement	NOUN
cblr-2899	420	15	of	of	ADP
cblr-2899	420	16	expenses	expense	NOUN
cblr-2899	420	17	under	under	ADP
cblr-2899	420	18	specified	specified	ADJ
cblr-2899	420	19	conditions	condition	NOUN
cblr-2899	420	20	.	.	PUNCT
cblr-2899	421	1	this	this	PRON
cblr-2899	421	2	would	would	AUX
cblr-2899	421	3	result	result	VERB
cblr-2899	421	4	in	in	ADP
cblr-2899	421	5	"	"	PUNCT
cblr-2899	421	6	the	the	DET
cblr-2899	421	7	conflict	conflict	NOUN
cblr-2899	421	8	of	of	ADP
cblr-2899	421	9	interest	interest	NOUN
cblr-2899	421	10	problem	problem	NOUN
cblr-2899	421	11	now	now	ADV
cblr-2899	421	12	re	re	VERB
cblr-2899	421	13	-	-	NOUN
cblr-2899	421	14	enter[ing	enter[ing	NOUN
cblr-2899	421	15	)	)	PUNCT
cblr-2899	421	16	through	through	ADP
cblr-2899	421	17	the	the	DET
cblr-2899	421	18	back	back	ADJ
cblr-2899	421	19	door	door	NOUN
cblr-2899	421	20	.	.	PUNCT
cblr-2899	422	1	"1	"1	NOUN
cblr-2899	422	2	27	27	NUM
cblr-2899	422	3	grundfest	grundfest	NOUN
cblr-2899	422	4	and	and	CCONJ
cblr-2899	422	5	hochenberg	hochenberg	PROPN
cblr-2899	422	6	have	have	AUX
cblr-2899	422	7	proposed	propose	VERB
cblr-2899	422	8	a	a	DET
cblr-2899	422	9	more	more	ADV
cblr-2899	422	10	radical	radical	ADJ
cblr-2899	422	11	version	version	NOUN
cblr-2899	422	12	of	of	ADP
cblr-2899	422	13	the	the	DET
cblr-2899	422	14	investor	investor	NOUN
cblr-2899	422	15	-	-	PUNCT
cblr-2899	422	16	pays	pay	VERB
cblr-2899	423	1	model.1	model.1	PROPN
cblr-2899	423	2	28	28	NUM
cblr-2899	423	3	they	they	PRON
cblr-2899	423	4	propose	propose	VERB
cblr-2899	423	5	that	that	SCONJ
cblr-2899	423	6	the	the	DET
cblr-2899	423	7	market	market	NOUN
cblr-2899	423	8	continue	continue	VERB
cblr-2899	423	9	to	to	PART
cblr-2899	423	10	offer	offer	VERB
cblr-2899	423	11	issuer	issuer	NOUN
cblr-2899	423	12	-	-	PUNCT
cblr-2899	423	13	paid	pay	VERB
cblr-2899	423	14	nrsro	nrsro	ADJ
cblr-2899	423	15	ratings	rating	NOUN
cblr-2899	423	16	,	,	PUNCT
cblr-2899	423	17	but	but	CCONJ
cblr-2899	423	18	that	that	SCONJ
cblr-2899	423	19	issuers	issuer	NOUN
cblr-2899	423	20	also	also	ADV
cblr-2899	423	21	be	be	AUX
cblr-2899	423	22	required	require	VERB
cblr-2899	423	23	to	to	PART
cblr-2899	423	24	purchase	purchase	VERB
cblr-2899	423	25	an	an	DET
cblr-2899	423	26	accompanying	accompanying	ADJ
cblr-2899	423	27	rating	rating	NOUN
cblr-2899	423	28	from	from	ADP
cblr-2899	423	29	a	a	DET
cblr-2899	423	30	so	so	ADV
cblr-2899	423	31	-	-	PUNCT
cblr-2899	423	32	called	call	VERB
cblr-2899	423	33	investor	investor	NOUN
cblr-2899	423	34	owned	own	VERB
cblr-2899	423	35	and	and	CCONJ
cblr-2899	423	36	controlled	control	VERB
cblr-2899	423	37	rating	rating	NOUN
cblr-2899	423	38	agency	agency	NOUN
cblr-2899	423	39	(	(	PUNCT
cblr-2899	423	40	"	"	PUNCT
cblr-2899	423	41	iocra").12	iocra").12	NOUN
cblr-2899	423	42	9	9	NUM
cblr-2899	423	43	these	these	PRON
cblr-2899	423	44	are	be	AUX
cblr-2899	423	45	essentially	essentially	ADV
cblr-2899	423	46	rating	rating	NOUN
cblr-2899	423	47	agencies	agency	NOUN
cblr-2899	423	48	owned	own	VERB
cblr-2899	423	49	by	by	ADP
cblr-2899	423	50	the	the	DET
cblr-2899	423	51	largest	large	ADJ
cblr-2899	423	52	debt	debt	NOUN
cblr-2899	423	53	market	market	NOUN
cblr-2899	423	54	investors	investor	NOUN
cblr-2899	423	55	.	.	PUNCT
cblr-2899	424	1	the	the	DET
cblr-2899	424	2	authors	author	NOUN
cblr-2899	424	3	of	of	ADP
cblr-2899	424	4	this	this	DET
cblr-2899	424	5	proposal	proposal	NOUN
cblr-2899	424	6	suggest	suggest	VERB
cblr-2899	424	7	that	that	SCONJ
cblr-2899	424	8	:	:	PUNCT
cblr-2899	424	9	because	because	SCONJ
cblr-2899	424	10	iocras	iocra	NOUN
cblr-2899	424	11	would	would	AUX
cblr-2899	424	12	be	be	AUX
cblr-2899	424	13	under	under	ADP
cblr-2899	424	14	the	the	DET
cblr-2899	424	15	control	control	NOUN
cblr-2899	424	16	of	of	ADP
cblr-2899	424	17	the	the	DET
cblr-2899	424	18	sophisticated	sophisticated	ADJ
cblr-2899	424	19	investor	investor	NOUN
cblr-2899	424	20	community	community	NOUN
cblr-2899	424	21	,	,	PUNCT
cblr-2899	424	22	and	and	CCONJ
cblr-2899	424	23	because	because	SCONJ
cblr-2899	424	24	any	any	DET
cblr-2899	424	25	one	one	NUM
cblr-2899	424	26	investor	investor	NOUN
cblr-2899	424	27	's	's	PART
cblr-2899	424	28	ownership	ownership	NOUN
cblr-2899	424	29	interest	interest	NOUN
cblr-2899	424	30	in	in	ADP
cblr-2899	424	31	an	an	DET
cblr-2899	424	32	iocra	iocra	NOUN
cblr-2899	424	33	would	would	AUX
cblr-2899	424	34	be	be	AUX
cblr-2899	424	35	capped	cap	VERB
cblr-2899	424	36	,	,	PUNCT
cblr-2899	424	37	the	the	DET
cblr-2899	424	38	incentives	incentive	NOUN
cblr-2899	424	39	of	of	ADP
cblr-2899	424	40	iocras	iocra	NOUN
cblr-2899	424	41	should	should	AUX
cblr-2899	424	42	be	be	AUX
cblr-2899	424	43	oriented	orient	VERB
cblr-2899	424	44	to	to	ADP
cblr-2899	424	45	generating	generate	VERB
cblr-2899	424	46	ratings	rating	NOUN
cblr-2899	424	47	that	that	PRON
cblr-2899	424	48	accurately	accurately	ADV
cblr-2899	424	49	reflect	reflect	VERB
cblr-2899	424	50	the	the	DET
cblr-2899	424	51	risks	risk	NOUN
cblr-2899	424	52	of	of	ADP
cblr-2899	424	53	holding	hold	VERB
cblr-2899	424	54	specific	specific	ADJ
cblr-2899	424	55	debt	debt	NOUN
cblr-2899	424	56	instruments	instrument	NOUN
cblr-2899	424	57	,	,	PUNCT
cblr-2899	424	58	even	even	ADV
cblr-2899	424	59	though	though	SCONJ
cblr-2899	424	60	their	their	PRON
cblr-2899	424	61	fees	fee	NOUN
cblr-2899	424	62	would	would	AUX
cblr-2899	424	63	also	also	ADV
cblr-2899	424	64	be	be	AUX
cblr-2899	424	65	paid	pay	VERB
cblr-2899	424	66	by	by	ADP
cblr-2899	424	67	issuers	issuer	NOUN
cblr-2899	424	68	.	.	PUNCT
cblr-2899	424	69	.	.	PUNCT
cblr-2899	424	70	.	.	PUNCT
cblr-2899	424	71	.	.	PUNCT
cblr-2899	425	1	[	[	X
cblr-2899	425	2	i]f	i]f	NOUN
cblr-2899	425	3	iocras	iocra	NOUN
cblr-2899	425	4	were	be	AUX
cblr-2899	425	5	to	to	PART
cblr-2899	425	6	fail	fail	VERB
cblr-2899	425	7	in	in	ADP
cblr-2899	425	8	anticipating	anticipate	VERB
cblr-2899	425	9	credit	credit	NOUN
cblr-2899	425	10	market	market	NOUN
cblr-2899	425	11	125	125	NUM
cblr-2899	425	12	coffee	coffee	NOUN
cblr-2899	425	13	,	,	PUNCT
cblr-2899	425	14	supra	supra	PROPN
cblr-2899	425	15	note	note	NOUN
cblr-2899	425	16	33	33	NUM
cblr-2899	425	17	,	,	PUNCT
cblr-2899	425	18	at	at	ADP
cblr-2899	425	19	272	272	NUM
cblr-2899	425	20	.	.	PUNCT
cblr-2899	426	1	126	126	NUM
cblr-2899	426	2	richardson	richardson	PROPN
cblr-2899	426	3	&	&	CCONJ
cblr-2899	426	4	white	white	PROPN
cblr-2899	426	5	,	,	PUNCT
cblr-2899	426	6	supra	supra	PROPN
cblr-2899	426	7	note	note	NOUN
cblr-2899	426	8	25	25	NUM
cblr-2899	426	9	,	,	PUNCT
cblr-2899	426	10	at	at	ADP
cblr-2899	426	11	107	107	NUM
cblr-2899	426	12	.	.	PUNCT
cblr-2899	427	1	127	127	NUM
cblr-2899	427	2	coffee	coffee	NOUN
cblr-2899	427	3	,	,	PUNCT
cblr-2899	427	4	supra	supra	PROPN
cblr-2899	427	5	note	note	NOUN
cblr-2899	427	6	33	33	NUM
cblr-2899	427	7	,	,	PUNCT
cblr-2899	427	8	at	at	ADP
cblr-2899	427	9	259	259	NUM
cblr-2899	427	10	.	.	PUNCT
cblr-2899	427	11	128	128	NUM
cblr-2899	428	1	see	see	VERB
cblr-2899	428	2	generally	generally	ADV
cblr-2899	428	3	joseph	joseph	PROPN
cblr-2899	428	4	grundfest	grundfest	PROPN
cblr-2899	428	5	&	&	CCONJ
cblr-2899	428	6	evgeniya	evgeniya	PROPN
cblr-2899	428	7	e.	e.	PROPN
cblr-2899	428	8	hochenberg	hochenberg	PROPN
cblr-2899	428	9	,	,	PUNCT
cblr-2899	428	10	investor	investor	NOUN
cblr-2899	428	11	owned	own	VERB
cblr-2899	428	12	and	and	CCONJ
cblr-2899	428	13	controlled	control	VERB
cblr-2899	428	14	rating	rating	NOUN
cblr-2899	428	15	agencies	agency	NOUN
cblr-2899	428	16	:	:	PUNCT
cblr-2899	428	17	a	a	DET
cblr-2899	428	18	summary	summary	NOUN
cblr-2899	428	19	introduction	introduction	NOUN
cblr-2899	428	20	(	(	PUNCT
cblr-2899	428	21	rock	rock	PROPN
cblr-2899	428	22	ctr	ctr	PROPN
cblr-2899	428	23	.	.	PUNCT
cblr-2899	429	1	for	for	ADP
cblr-2899	429	2	corporate	corporate	ADJ
cblr-2899	429	3	governance	governance	NOUN
cblr-2899	429	4	,	,	PUNCT
cblr-2899	429	5	working	working	NOUN
cblr-2899	429	6	paper	paper	NOUN
cblr-2899	429	7	no	no	INTJ
cblr-2899	429	8	.	.	PROPN
cblr-2899	429	9	66	66	NUM
cblr-2899	429	10	,	,	PUNCT
cblr-2899	429	11	2009	2009	NUM
cblr-2899	429	12	)	)	PUNCT
cblr-2899	429	13	,	,	PUNCT
cblr-2899	429	14	available	available	ADJ
cblr-2899	429	15	at	at	ADP
cblr-2899	429	16	http://papers.ssrn.com/sol3/papers.cfm?abstractid=1494527	http://papers.ssrn.com/sol3/papers.cfm?abstractid=1494527	PROPN
cblr-2899	429	17	.	.	PROPN
cblr-2899	430	1	129	129	NUM
cblr-2899	430	2	see	see	VERB
cblr-2899	430	3	i	i	PRON
cblr-2899	430	4	d.	d.	PROPN
cblr-2899	430	5	no	no	INTJ
cblr-2899	430	6	.	.	PUNCT
cblr-2899	431	1	3:994]1	3:994]1	NUM
cblr-2899	431	2	regulating	regulate	VERB
cblr-2899	431	3	credit	credit	NOUN
cblr-2899	431	4	ra	ra	PROPN
cblr-2899	431	5	ting	ting	PROPN
cblr-2899	431	6	agencies	agencies	PROPN
cblr-2899	431	7	1025	1025	NUM
cblr-2899	431	8	issues	issue	NOUN
cblr-2899	431	9	,	,	PUNCT
cblr-2899	431	10	the	the	DET
cblr-2899	431	11	investor	investor	NOUN
cblr-2899	431	12	community	community	NOUN
cblr-2899	431	13	would	would	AUX
cblr-2899	431	14	,	,	PUNCT
cblr-2899	431	15	at	at	ADP
cblr-2899	431	16	the	the	DET
cblr-2899	431	17	end	end	NOUN
cblr-2899	431	18	of	of	ADP
cblr-2899	431	19	the	the	DET
cblr-2899	431	20	day	day	NOUN
cblr-2899	431	21	,	,	PUNCT
cblr-2899	431	22	have	have	VERB
cblr-2899	431	23	only	only	ADV
cblr-2899	431	24	itself	itself	PRON
cblr-2899	431	25	to	to	PART
cblr-2899	431	26	blame	blame	VERB
cblr-2899	431	27	.	.	PUNCT
cblr-2899	432	1	130	130	NUM
cblr-2899	432	2	although	although	SCONJ
cblr-2899	432	3	certainly	certainly	ADV
cblr-2899	432	4	creative	creative	ADJ
cblr-2899	432	5	,	,	PUNCT
cblr-2899	432	6	the	the	DET
cblr-2899	432	7	approach	approach	NOUN
cblr-2899	432	8	is	be	AUX
cblr-2899	432	9	unrealistic	unrealistic	ADJ
cblr-2899	432	10	.	.	PUNCT
cblr-2899	433	1	institutional	institutional	ADJ
cblr-2899	433	2	investors	investor	NOUN
cblr-2899	433	3	are	be	AUX
cblr-2899	433	4	often	often	ADV
cblr-2899	433	5	in	in	ADP
cblr-2899	433	6	active	active	ADJ
cblr-2899	433	7	competition	competition	NOUN
cblr-2899	433	8	with	with	ADP
cblr-2899	433	9	each	each	DET
cblr-2899	433	10	other	other	ADJ
cblr-2899	433	11	and	and	CCONJ
cblr-2899	433	12	do	do	AUX
cblr-2899	433	13	not	not	PART
cblr-2899	433	14	share	share	VERB
cblr-2899	433	15	information	information	NOUN
cblr-2899	433	16	freely	freely	ADV
cblr-2899	433	17	.	.	PUNCT
cblr-2899	434	1	131	131	NUM
cblr-2899	434	2	additionally	additionally	ADV
cblr-2899	434	3	,	,	PUNCT
cblr-2899	434	4	there	there	PRON
cblr-2899	434	5	is	be	VERB
cblr-2899	434	6	no	no	DET
cblr-2899	434	7	way	way	NOUN
cblr-2899	434	8	to	to	PART
cblr-2899	434	9	mandate	mandate	VERB
cblr-2899	434	10	the	the	DET
cblr-2899	434	11	creation	creation	NOUN
cblr-2899	434	12	of	of	ADP
cblr-2899	434	13	such	such	ADJ
cblr-2899	434	14	institutions	institution	NOUN
cblr-2899	434	15	,	,	PUNCT
cblr-2899	434	16	which	which	PRON
cblr-2899	434	17	likely	likely	ADV
cblr-2899	434	18	would	would	AUX
cblr-2899	434	19	have	have	AUX
cblr-2899	434	20	been	be	AUX
cblr-2899	434	21	established	establish	VERB
cblr-2899	434	22	already	already	ADV
cblr-2899	434	23	if	if	SCONJ
cblr-2899	434	24	they	they	PRON
cblr-2899	434	25	were	be	AUX
cblr-2899	434	26	profitable	profitable	ADJ
cblr-2899	434	27	or	or	CCONJ
cblr-2899	434	28	viable	viable	ADJ
cblr-2899	434	29	.	.	PUNCT
cblr-2899	435	1	finally	finally	ADV
cblr-2899	435	2	,	,	PUNCT
cblr-2899	435	3	the	the	DET
cblr-2899	435	4	model	model	NOUN
cblr-2899	435	5	carries	carry	VERB
cblr-2899	435	6	the	the	DET
cblr-2899	435	7	potential	potential	ADJ
cblr-2899	435	8	risk	risk	NOUN
cblr-2899	435	9	that	that	SCONJ
cblr-2899	435	10	issuers	issuer	NOUN
cblr-2899	435	11	will	will	AUX
cblr-2899	435	12	pay	pay	VERB
cblr-2899	435	13	for	for	ADP
cblr-2899	435	14	the	the	DET
cblr-2899	435	15	cheapest	cheap	ADJ
cblr-2899	435	16	and	and	CCONJ
cblr-2899	435	17	least	least	ADJ
cblr-2899	435	18	reliable	reliable	ADJ
cblr-2899	435	19	iocra	iocra	ADJ
cblr-2899	435	20	ratings	rating	NOUN
cblr-2899	435	21	simply	simply	ADV
cblr-2899	435	22	to	to	PART
cblr-2899	435	23	satisfy	satisfy	VERB
cblr-2899	435	24	their	their	PRON
cblr-2899	435	25	requirement	requirement	NOUN
cblr-2899	435	26	and	and	CCONJ
cblr-2899	435	27	then	then	ADV
cblr-2899	435	28	solicit	solicit	VERB
cblr-2899	435	29	ratings	rating	NOUN
cblr-2899	435	30	from	from	ADP
cblr-2899	435	31	cras	cra	NOUN
cblr-2899	435	32	of	of	ADP
cblr-2899	435	33	their	their	PRON
cblr-2899	435	34	choice	choice	NOUN
cblr-2899	435	35	,	,	PUNCT
cblr-2899	435	36	causing	cause	VERB
cblr-2899	435	37	the	the	DET
cblr-2899	435	38	market	market	NOUN
cblr-2899	435	39	to	to	PART
cblr-2899	435	40	rely	rely	VERB
cblr-2899	435	41	primarily	primarily	ADV
cblr-2899	435	42	on	on	ADP
cblr-2899	435	43	the	the	DET
cblr-2899	435	44	same	same	ADJ
cblr-2899	435	45	problematic	problematic	ADJ
cblr-2899	435	46	ratings	rating	NOUN
cblr-2899	435	47	as	as	ADP
cblr-2899	435	48	before	before	ADV
cblr-2899	435	49	.	.	PUNCT
cblr-2899	436	1	132	132	NUM
cblr-2899	436	2	this	this	PRON
cblr-2899	436	3	would	would	AUX
cblr-2899	436	4	undermine	undermine	VERB
cblr-2899	436	5	the	the	DET
cblr-2899	436	6	entire	entire	ADJ
cblr-2899	436	7	set	set	NOUN
cblr-2899	436	8	-	-	PUNCT
cblr-2899	436	9	up	up	NOUN
cblr-2899	436	10	envisioned	envision	VERB
cblr-2899	436	11	by	by	ADP
cblr-2899	436	12	grundfest	grundfest	NOUN
cblr-2899	436	13	and	and	CCONJ
cblr-2899	436	14	hochenberg	hochenberg	PROPN
cblr-2899	436	15	.	.	PUNCT
cblr-2899	437	1	c.	c.	NOUN
cblr-2899	437	2	sanctions	sanction	NOUN
cblr-2899	437	3	using	use	VERB
cblr-2899	437	4	sanctions	sanction	NOUN
cblr-2899	437	5	to	to	PART
cblr-2899	437	6	discipline	discipline	VERB
cblr-2899	437	7	the	the	DET
cblr-2899	437	8	rating	rating	NOUN
cblr-2899	437	9	agencies	agency	NOUN
cblr-2899	437	10	is	be	AUX
cblr-2899	437	11	another	another	DET
cblr-2899	437	12	solution	solution	NOUN
cblr-2899	437	13	that	that	PRON
cblr-2899	437	14	has	have	AUX
cblr-2899	437	15	been	be	AUX
cblr-2899	437	16	put	put	VERB
cblr-2899	437	17	forward	forward	ADV
cblr-2899	437	18	.	.	PUNCT
cblr-2899	438	1	13	13	NUM
cblr-2899	438	2	3	3	NUM
cblr-2899	438	3	the	the	DET
cblr-2899	438	4	aim	aim	NOUN
cblr-2899	438	5	is	be	AUX
cblr-2899	438	6	to	to	PART
cblr-2899	438	7	solve	solve	VERB
cblr-2899	438	8	the	the	DET
cblr-2899	438	9	problems	problem	NOUN
cblr-2899	438	10	associated	associate	VERB
cblr-2899	438	11	with	with	ADP
cblr-2899	438	12	lags	lag	NOUN
cblr-2899	438	13	between	between	ADP
cblr-2899	438	14	the	the	DET
cblr-2899	438	15	time	time	NOUN
cblr-2899	438	16	when	when	SCONJ
cblr-2899	438	17	a	a	DET
cblr-2899	438	18	rating	rating	NOUN
cblr-2899	438	19	is	be	AUX
cblr-2899	438	20	purchased	purchase	VERB
cblr-2899	438	21	and	and	CCONJ
cblr-2899	438	22	the	the	DET
cblr-2899	438	23	time	time	NOUN
cblr-2899	438	24	when	when	SCONJ
cblr-2899	438	25	the	the	DET
cblr-2899	438	26	accuracy	accuracy	NOUN
cblr-2899	438	27	or	or	CCONJ
cblr-2899	438	28	quality	quality	NOUN
cblr-2899	438	29	of	of	ADP
cblr-2899	438	30	a	a	DET
cblr-2899	438	31	rating	rating	NOUN
cblr-2899	438	32	can	can	AUX
cblr-2899	438	33	be	be	AUX
cblr-2899	438	34	measured	measure	VERB
cblr-2899	438	35	.	.	PUNCT
cblr-2899	439	1	134	134	NUM
cblr-2899	439	2	one	one	NUM
cblr-2899	439	3	option	option	NOUN
cblr-2899	439	4	is	be	AUX
cblr-2899	439	5	to	to	PART
cblr-2899	439	6	defer	defer	VERB
cblr-2899	439	7	compensation	compensation	NOUN
cblr-2899	439	8	.	.	PUNCT
cblr-2899	440	1	this	this	DET
cblr-2899	440	2	way	way	NOUN
cblr-2899	440	3	,	,	PUNCT
cblr-2899	440	4	cras	cras	PROPN
cblr-2899	440	5	'	'	PART
cblr-2899	440	6	profits	profit	NOUN
cblr-2899	440	7	would	would	AUX
cblr-2899	440	8	increase	increase	VERB
cblr-2899	440	9	"	"	PUNCT
cblr-2899	440	10	if	if	SCONJ
cblr-2899	440	11	bonds	bond	NOUN
cblr-2899	440	12	they	they	PRON
cblr-2899	440	13	rate	rate	VERB
cblr-2899	440	14	as	as	SCONJ
cblr-2899	440	15	investment	investment	NOUN
cblr-2899	440	16	grade	grade	NOUN
cblr-2899	440	17	perform	perform	VERB
cblr-2899	440	18	well	well	ADV
cblr-2899	440	19	and	and	CCONJ
cblr-2899	440	20	fall	fall	VERB
cblr-2899	440	21	if	if	SCONJ
cblr-2899	440	22	such	such	ADJ
cblr-2899	440	23	bonds	bond	NOUN
cblr-2899	440	24	default	default	VERB
cblr-2899	440	25	more	more	ADV
cblr-2899	440	26	often	often	ADV
cblr-2899	440	27	than	than	SCONJ
cblr-2899	440	28	expected	expect	VERB
cblr-2899	440	29	.	.	PUNCT
cblr-2899	440	30	"	"	PUNCT
cblr-2899	441	1	135	135	NUM
cblr-2899	441	2	larry	larry	PROPN
cblr-2899	441	3	harris	harris	PROPN
cblr-2899	441	4	suggests	suggest	VERB
cblr-2899	441	5	that	that	SCONJ
cblr-2899	441	6	cras	cras	PROPN
cblr-2899	441	7	put	put	VERB
cblr-2899	441	8	a	a	DET
cblr-2899	441	9	130	130	NUM
cblr-2899	441	10	grundfest	grundfest	NOUN
cblr-2899	441	11	&	&	CCONJ
cblr-2899	441	12	hochenberg	hochenberg	PROPN
cblr-2899	441	13	,	,	PUNCT
cblr-2899	441	14	supra	supra	PROPN
cblr-2899	441	15	note	note	PROPN
cblr-2899	441	16	128	128	NUM
cblr-2899	441	17	,	,	PUNCT
cblr-2899	441	18	at	at	ADP
cblr-2899	441	19	6	6	NUM
cblr-2899	441	20	.	.	PUNCT
cblr-2899	441	21	131	131	NUM
cblr-2899	441	22	coffee	coffee	NOUN
cblr-2899	441	23	,	,	PUNCT
cblr-2899	441	24	supra	supra	PROPN
cblr-2899	441	25	note	note	NOUN
cblr-2899	441	26	33	33	NUM
cblr-2899	441	27	,	,	PUNCT
cblr-2899	441	28	at	at	ADP
cblr-2899	441	29	259	259	NUM
cblr-2899	441	30	.	.	PUNCT
cblr-2899	442	1	132	132	NUM
cblr-2899	442	2	see	see	VERB
cblr-2899	442	3	i	i	PRON
cblr-2899	442	4	d.	d.	PROPN
cblr-2899	442	5	at	at	ADP
cblr-2899	442	6	258	258	NUM
cblr-2899	442	7	(	(	PUNCT
cblr-2899	442	8	"	"	PUNCT
cblr-2899	442	9	a	a	DET
cblr-2899	442	10	further	further	ADJ
cblr-2899	442	11	danger	danger	NOUN
cblr-2899	442	12	in	in	ADP
cblr-2899	442	13	this	this	DET
cblr-2899	442	14	model	model	NOUN
cblr-2899	442	15	might	might	AUX
cblr-2899	442	16	be	be	AUX
cblr-2899	442	17	that	that	SCONJ
cblr-2899	442	18	some	some	DET
cblr-2899	442	19	institutional	institutional	ADJ
cblr-2899	442	20	investors	investor	NOUN
cblr-2899	442	21	would	would	AUX
cblr-2899	442	22	opt	opt	VERB
cblr-2899	442	23	for	for	ADP
cblr-2899	442	24	the	the	DET
cblr-2899	442	25	cheapest	cheap	ADJ
cblr-2899	442	26	rating	rating	NOUN
cblr-2899	442	27	agency	agency	NOUN
cblr-2899	442	28	,	,	PUNCT
cblr-2899	442	29	which	which	DET
cblr-2899	442	30	agency	agency	NOUN
cblr-2899	442	31	might	might	AUX
cblr-2899	442	32	in	in	ADP
cblr-2899	442	33	turn	turn	VERB
cblr-2899	442	34	economize	economize	VERB
cblr-2899	442	35	on	on	ADP
cblr-2899	442	36	its	its	PRON
cblr-2899	442	37	own	own	ADJ
cblr-2899	442	38	efforts	effort	NOUN
cblr-2899	442	39	by	by	ADP
cblr-2899	442	40	simply	simply	ADV
cblr-2899	442	41	conforming	conform	VERB
cblr-2899	442	42	to	to	ADP
cblr-2899	442	43	the	the	DET
cblr-2899	442	44	ratings	rating	NOUN
cblr-2899	442	45	provided	provide	VERB
cblr-2899	442	46	by	by	ADP
cblr-2899	442	47	the	the	DET
cblr-2899	442	48	"	"	PUNCT
cblr-2899	442	49	issuer	issuer	NOUN
cblr-2899	442	50	paid	pay	VERB
cblr-2899	442	51	"	"	PUNCT
cblr-2899	442	52	rating	rating	NOUN
cblr-2899	442	53	agency	agency	NOUN
cblr-2899	442	54	.	.	PUNCT
cblr-2899	442	55	"	"	PUNCT
cblr-2899	442	56	)	)	PUNCT
cblr-2899	442	57	.	.	PUNCT
cblr-2899	443	1	133	133	NUM
cblr-2899	443	2	see	see	VERB
cblr-2899	443	3	generally	generally	ADV
cblr-2899	443	4	john	john	PROPN
cblr-2899	443	5	patrick	patrick	PROPN
cblr-2899	443	6	hunt	hunt	PROPN
cblr-2899	443	7	,	,	PUNCT
cblr-2899	443	8	credit	credit	NOUN
cblr-2899	443	9	rating	rating	NOUN
cblr-2899	443	10	and	and	CCONJ
cblr-2899	443	11	the	the	DET
cblr-2899	443	12	'	'	PUNCT
cblr-2899	443	13	worldwide	worldwide	ADJ
cblr-2899	443	14	credit	credit	NOUN
cblr-2899	443	15	crisis	crisis	NOUN
cblr-2899	443	16	"	"	PUNCT
cblr-2899	443	17	:	:	PUNCT
cblr-2899	443	18	the	the	DET
cblr-2899	443	19	limits	limit	NOUN
cblr-2899	443	20	of	of	ADP
cblr-2899	443	21	reputation	reputation	NOUN
cblr-2899	443	22	,	,	PUNCT
cblr-2899	443	23	the	the	DET
cblr-2899	443	24	insufficiency	insufficiency	NOUN
cblr-2899	443	25	of	of	ADP
cblr-2899	443	26	reform	reform	NOUN
cblr-2899	443	27	,	,	PUNCT
cblr-2899	443	28	and	and	CCONJ
cblr-2899	443	29	a	a	DET
cblr-2899	443	30	proposal	proposal	NOUN
cblr-2899	443	31	for	for	ADP
cblr-2899	443	32	improvement	improvement	NOUN
cblr-2899	443	33	,	,	PUNCT
cblr-2899	443	34	2009	2009	NUM
cblr-2899	443	35	colum	colum	NOUN
cblr-2899	443	36	.	.	PUNCT
cblr-2899	444	1	bus	bus	NOUN
cblr-2899	444	2	.	.	PUNCT
cblr-2899	445	1	l.	l.	PROPN
cblr-2899	445	2	rev	rev	PROPN
cblr-2899	445	3	.	.	PROPN
cblr-2899	446	1	109	109	NUM
cblr-2899	446	2	(	(	PUNCT
cblr-2899	446	3	2009	2009	NUM
cblr-2899	446	4	)	)	PUNCT
cblr-2899	446	5	.	.	PUNCT
cblr-2899	447	1	134	134	NUM
cblr-2899	448	1	i	i	PROPN
cblr-2899	448	2	d.	d.	PROPN
cblr-2899	448	3	135	135	NUM
cblr-2899	448	4	larry	larry	PROPN
cblr-2899	448	5	harris	harris	PROPN
cblr-2899	448	6	,	,	PUNCT
cblr-2899	448	7	pay	pay	VERB
cblr-2899	448	8	the	the	DET
cblr-2899	448	9	rating	rating	NOUN
cblr-2899	448	10	agencies	agency	NOUN
cblr-2899	448	11	according	accord	VERB
cblr-2899	448	12	to	to	ADP
cblr-2899	448	13	results	result	NOUN
cblr-2899	448	14	,	,	PUNCT
cblr-2899	448	15	fin	fin	NOUN
cblr-2899	448	16	.	.	PUNCT
cblr-2899	449	1	times	times	PROPN
cblr-2899	449	2	(	(	PUNCT
cblr-2899	449	3	jun	jun	PROPN
cblr-2899	449	4	.	.	PROPN
cblr-2899	449	5	3	3	NUM
cblr-2899	449	6	,	,	PUNCT
cblr-2899	449	7	2010	2010	NUM
cblr-2899	449	8	,	,	PUNCT
cblr-2899	449	9	8:16	8:16	NUM
cblr-2899	449	10	pm	pm	NOUN
cblr-2899	449	11	)	)	PUNCT
cblr-2899	449	12	,	,	PUNCT
cblr-2899	449	13	www.ft.com/intl/cms/s/o/a2d8d710-6f3d1	www.ft.com/intl/cms/s/o/a2d8d710-6f3d1	PROPN
cblr-2899	449	14	ldf-9f43-00144feabdco.html#axzzlfg4zehzc	ldf-9f43-00144feabdco.html#axzzlfg4zehzc	PROPN
cblr-2899	449	15	.	.	PUNCT
cblr-2899	450	1	col	col	PROPN
cblr-2899	450	2	umbia	umbia	PROPN
cblr-2899	450	3	b	b	PROPN
cblr-2899	450	4	usiness	usiness	PROPN
cblr-2899	450	5	la	la	PROPN
cblr-2899	450	6	w	w	PROPN
cblr-2899	450	7	re	re	PROPN
cblr-2899	450	8	vie	vie	PROPN
cblr-2899	450	9	w	w	PROPN
cblr-2899	451	1	[	[	X
cblr-2899	451	2	vol	vol	NOUN
cblr-2899	451	3	.	.	PUNCT
cblr-2899	451	4	20121026	20121026	NUM
cblr-2899	451	5	certain	certain	ADJ
cblr-2899	451	6	percentage	percentage	NOUN
cblr-2899	451	7	of	of	ADP
cblr-2899	451	8	their	their	PRON
cblr-2899	451	9	fees	fee	NOUN
cblr-2899	451	10	into	into	ADP
cblr-2899	451	11	an	an	DET
cblr-2899	451	12	escrow	escrow	NOUN
cblr-2899	451	13	and	and	CCONJ
cblr-2899	451	14	that	that	SCONJ
cblr-2899	451	15	this	this	DET
cblr-2899	451	16	money	money	NOUN
cblr-2899	451	17	eventually	eventually	ADV
cblr-2899	451	18	be	be	AUX
cblr-2899	451	19	returned	return	VERB
cblr-2899	451	20	to	to	ADP
cblr-2899	451	21	the	the	DET
cblr-2899	451	22	agencies	agency	NOUN
cblr-2899	451	23	if	if	SCONJ
cblr-2899	451	24	their	their	PRON
cblr-2899	451	25	performance	performance	NOUN
cblr-2899	451	26	is	be	AUX
cblr-2899	451	27	satisfactory.13	satisfactory.13	NUM
cblr-2899	451	28	6	6	NUM
cblr-2899	451	29	alternatively	alternatively	ADV
cblr-2899	451	30	,	,	PUNCT
cblr-2899	451	31	regulation	regulation	NOUN
cblr-2899	451	32	could	could	AUX
cblr-2899	451	33	require	require	VERB
cblr-2899	451	34	clawbacks	clawback	NOUN
cblr-2899	451	35	of	of	ADP
cblr-2899	451	36	fees	fee	NOUN
cblr-2899	451	37	earned	earn	VERB
cblr-2899	451	38	if	if	SCONJ
cblr-2899	451	39	ratings	rating	NOUN
cblr-2899	451	40	prove	prove	VERB
cblr-2899	451	41	to	to	PART
cblr-2899	451	42	be	be	AUX
cblr-2899	451	43	inaccurate	inaccurate	ADJ
cblr-2899	451	44	,	,	PUNCT
cblr-2899	451	45	or	or	CCONJ
cblr-2899	451	46	award	award	NOUN
cblr-2899	451	47	bonuses	bonus	NOUN
cblr-2899	451	48	if	if	SCONJ
cblr-2899	451	49	ratings	rating	NOUN
cblr-2899	451	50	prove	prove	VERB
cblr-2899	451	51	accurate	accurate	ADJ
cblr-2899	451	52	.	.	PUNCT
cblr-2899	452	1	professor	professor	NOUN
cblr-2899	452	2	hunt	hunt	NOUN
cblr-2899	452	3	explains	explain	VERB
cblr-2899	452	4	that	that	SCONJ
cblr-2899	452	5	reputational	reputational	ADJ
cblr-2899	452	6	threats	threat	NOUN
cblr-2899	452	7	are	be	AUX
cblr-2899	452	8	not	not	PART
cblr-2899	452	9	adequate	adequate	ADJ
cblr-2899	452	10	protection	protection	NOUN
cblr-2899	452	11	against	against	ADP
cblr-2899	452	12	incentives	incentive	NOUN
cblr-2899	452	13	to	to	PART
cblr-2899	452	14	inflate	inflate	VERB
cblr-2899	452	15	ratings	rating	NOUN
cblr-2899	452	16	of	of	ADP
cblr-2899	452	17	new	new	ADJ
cblr-2899	452	18	products.1	products.1	PROPN
cblr-2899	452	19	3	3	NUM
cblr-2899	452	20	'	'	PUNCT
cblr-2899	452	21	this	this	PRON
cblr-2899	452	22	is	be	AUX
cblr-2899	452	23	because	because	SCONJ
cblr-2899	452	24	cras	cras	PROPN
cblr-2899	452	25	have	have	VERB
cblr-2899	452	26	no	no	DET
cblr-2899	452	27	reputation	reputation	NOUN
cblr-2899	452	28	to	to	PART
cblr-2899	452	29	protect	protect	VERB
cblr-2899	452	30	for	for	ADP
cblr-2899	452	31	rating	rate	VERB
cblr-2899	452	32	these	these	DET
cblr-2899	452	33	new	new	ADJ
cblr-2899	452	34	products	product	NOUN
cblr-2899	452	35	and	and	CCONJ
cblr-2899	452	36	will	will	AUX
cblr-2899	452	37	therefore	therefore	ADV
cblr-2899	452	38	be	be	AUX
cblr-2899	452	39	able	able	ADJ
cblr-2899	452	40	to	to	PART
cblr-2899	452	41	charge	charge	VERB
cblr-2899	452	42	high	high	ADJ
cblr-2899	452	43	prices	price	NOUN
cblr-2899	452	44	for	for	ADP
cblr-2899	452	45	low	low	ADJ
cblr-2899	452	46	-	-	PUNCT
cblr-2899	452	47	quality	quality	NOUN
cblr-2899	452	48	ratings	rating	NOUN
cblr-2899	452	49	until	until	SCONJ
cblr-2899	452	50	the	the	DET
cblr-2899	452	51	market	market	NOUN
cblr-2899	452	52	catches	catch	VERB
cblr-2899	452	53	on	on	ADP
cblr-2899	452	54	and	and	CCONJ
cblr-2899	452	55	the	the	DET
cblr-2899	452	56	product	product	NOUN
cblr-2899	452	57	dies	die	VERB
cblr-2899	452	58	out	out	ADP
cblr-2899	452	59	.	.	PUNCT
cblr-2899	453	1	3	3	NUM
cblr-2899	453	2	8	8	NUM
cblr-2899	453	3	to	to	PART
cblr-2899	453	4	fix	fix	VERB
cblr-2899	453	5	this	this	DET
cblr-2899	453	6	problem	problem	NOUN
cblr-2899	453	7	,	,	PUNCT
cblr-2899	453	8	professor	professor	NOUN
cblr-2899	453	9	hunt	hunt	NOUN
cblr-2899	453	10	suggests	suggest	VERB
cblr-2899	453	11	that	that	SCONJ
cblr-2899	453	12	the	the	DET
cblr-2899	453	13	government	government	NOUN
cblr-2899	453	14	disgorge	disgorge	VERB
cblr-2899	453	15	all	all	DET
cblr-2899	453	16	profits	profit	NOUN
cblr-2899	453	17	that	that	SCONJ
cblr-2899	453	18	cras	cras	PROPN
cblr-2899	453	19	receive	receive	VERB
cblr-2899	453	20	from	from	ADP
cblr-2899	453	21	issuing	issue	VERB
cblr-2899	453	22	ratings	rating	NOUN
cblr-2899	453	23	for	for	ADP
cblr-2899	453	24	new	new	ADJ
cblr-2899	453	25	products	product	NOUN
cblr-2899	453	26	that	that	PRON
cblr-2899	453	27	fall	fall	VERB
cblr-2899	453	28	below	below	ADP
cblr-2899	453	29	a	a	DET
cblr-2899	453	30	predetermined	predetermine	VERB
cblr-2899	453	31	quality	quality	NOUN
cblr-2899	453	32	level	level	NOUN
cblr-2899	453	33	.	.	PUNCT
cblr-2899	454	1	139	139	NUM
cblr-2899	454	2	interestingly	interestingly	ADV
cblr-2899	454	3	,	,	PUNCT
cblr-2899	454	4	professor	professor	NOUN
cblr-2899	454	5	hunt	hunt	NOUN
cblr-2899	454	6	would	would	AUX
cblr-2899	454	7	provide	provide	VERB
cblr-2899	454	8	a	a	DET
cblr-2899	454	9	safe	safe	ADJ
cblr-2899	454	10	harbor	harbor	NOUN
cblr-2899	454	11	for	for	ADP
cblr-2899	454	12	cras	cra	NOUN
cblr-2899	454	13	that	that	PRON
cblr-2899	454	14	disclose	disclose	VERB
cblr-2899	454	15	that	that	SCONJ
cblr-2899	454	16	they	they	PRON
cblr-2899	454	17	are	be	AUX
cblr-2899	454	18	issuing	issue	VERB
cblr-2899	454	19	low	low	ADJ
cblr-2899	454	20	-	-	PUNCT
cblr-2899	454	21	quality	quality	NOUN
cblr-2899	454	22	ratings	rating	NOUN
cblr-2899	454	23	ahead	ahead	ADV
cblr-2899	454	24	of	of	ADP
cblr-2899	454	25	time.140	time.140	NOUN
cblr-2899	454	26	he	he	PRON
cblr-2899	454	27	explains	explain	VERB
cblr-2899	454	28	,	,	PUNCT
cblr-2899	454	29	"	"	PUNCT
cblr-2899	454	30	[	[	X
cblr-2899	454	31	i]nvestors	i]nvestor	NOUN
cblr-2899	454	32	who	who	PRON
cblr-2899	454	33	are	be	AUX
cblr-2899	454	34	not	not	PART
cblr-2899	454	35	good	good	ADJ
cblr-2899	454	36	at	at	ADP
cblr-2899	454	37	judging	judge	VERB
cblr-2899	454	38	risk	risk	NOUN
cblr-2899	454	39	for	for	ADP
cblr-2899	454	40	themselves	themselves	PRON
cblr-2899	454	41	might	might	AUX
cblr-2899	454	42	find	find	VERB
cblr-2899	454	43	such	such	ADJ
cblr-2899	454	44	[	[	PUNCT
cblr-2899	454	45	low	low	ADJ
cblr-2899	454	46	-	-	PUNCT
cblr-2899	454	47	quality	quality	NOUN
cblr-2899	454	48	]	]	PUNCT
cblr-2899	454	49	ratings	rating	NOUN
cblr-2899	454	50	useful	useful	ADJ
cblr-2899	454	51	.	.	PUNCT
cblr-2899	455	1	"'41	"'41	NOUN
cblr-2899	455	2	professor	professor	NOUN
cblr-2899	455	3	coffee	coffee	NOUN
cblr-2899	455	4	proposes	propose	VERB
cblr-2899	455	5	to	to	PART
cblr-2899	455	6	sanction	sanction	VERB
cblr-2899	455	7	poor	poor	ADJ
cblr-2899	455	8	performance	performance	NOUN
cblr-2899	455	9	of	of	ADP
cblr-2899	455	10	cras	cras	X
cblr-2899	455	11	by	by	ADP
cblr-2899	455	12	having	have	VERB
cblr-2899	455	13	the	the	DET
cblr-2899	455	14	sec	sec	PROPN
cblr-2899	455	15	remove	remove	VERB
cblr-2899	455	16	their	their	PRON
cblr-2899	455	17	nrsro	nrsro	ADJ
cblr-2899	455	18	status	status	NOUN
cblr-2899	455	19	for	for	ADP
cblr-2899	455	20	a	a	DET
cblr-2899	455	21	particular	particular	ADJ
cblr-2899	455	22	asset	asset	NOUN
cblr-2899	455	23	class	class	NOUN
cblr-2899	455	24	.	.	PUNCT
cblr-2899	456	1	142	142	NUM
cblr-2899	456	2	the	the	DET
cblr-2899	456	3	duration	duration	NOUN
cblr-2899	456	4	of	of	ADP
cblr-2899	456	5	this	this	DET
cblr-2899	456	6	suspension	suspension	NOUN
cblr-2899	456	7	as	as	ADP
cblr-2899	456	8	an	an	DET
cblr-2899	456	9	nrsro	nrsro	NOUN
cblr-2899	456	10	would	would	AUX
cblr-2899	456	11	continue	continue	VERB
cblr-2899	456	12	until	until	SCONJ
cblr-2899	456	13	the	the	DET
cblr-2899	456	14	particular	particular	ADJ
cblr-2899	456	15	agency	agency	NOUN
cblr-2899	456	16	's	's	PART
cblr-2899	456	17	fiveyear	fiveyear	NOUN
cblr-2899	456	18	default	default	NOUN
cblr-2899	456	19	rate	rate	NOUN
cblr-2899	456	20	falls	fall	VERB
cblr-2899	456	21	back	back	ADV
cblr-2899	456	22	within	within	ADP
cblr-2899	456	23	the	the	DET
cblr-2899	456	24	acceptable	acceptable	ADJ
cblr-2899	456	25	parameters	parameter	NOUN
cblr-2899	456	26	for	for	ADP
cblr-2899	456	27	ratings	rating	NOUN
cblr-2899	456	28	of	of	ADP
cblr-2899	456	29	that	that	DET
cblr-2899	456	30	particular	particular	ADJ
cblr-2899	456	31	asset	asset	NOUN
cblr-2899	456	32	class	class	NOUN
cblr-2899	456	33	.	.	PUNCT
cblr-2899	456	34	'	'	PUNCT
cblr-2899	457	1	this	this	DET
cblr-2899	457	2	approach	approach	NOUN
cblr-2899	457	3	would	would	AUX
cblr-2899	457	4	have	have	AUX
cblr-2899	457	5	been	be	AUX
cblr-2899	457	6	a	a	DET
cblr-2899	457	7	more	more	ADV
cblr-2899	457	8	severe	severe	ADJ
cblr-2899	457	9	penalty	penalty	NOUN
cblr-2899	457	10	prior	prior	ADV
cblr-2899	457	11	to	to	ADP
cblr-2899	457	12	dodd	dodd	PROPN
cblr-2899	457	13	-	-	PUNCT
cblr-2899	457	14	frank	frank	PROPN
cblr-2899	457	15	,	,	PUNCT
cblr-2899	457	16	when	when	SCONJ
cblr-2899	457	17	the	the	DET
cblr-2899	457	18	nrsro	nrsro	ADJ
cblr-2899	457	19	status	status	NOUN
cblr-2899	457	20	gave	give	VERB
cblr-2899	457	21	ratings	rating	NOUN
cblr-2899	457	22	meaningful	meaningful	ADJ
cblr-2899	457	23	legal	legal	ADJ
cblr-2899	457	24	significance	significance	NOUN
cblr-2899	457	25	through	through	ADP
cblr-2899	457	26	incorporation	incorporation	NOUN
cblr-2899	457	27	of	of	ADP
cblr-2899	457	28	ratings	rating	NOUN
cblr-2899	457	29	in	in	ADP
cblr-2899	457	30	regulations	regulation	NOUN
cblr-2899	457	31	.	.	PUNCT
cblr-2899	458	1	however	however	ADV
cblr-2899	458	2	,	,	PUNCT
cblr-2899	458	3	even	even	ADV
cblr-2899	458	4	after	after	ADP
cblr-2899	458	5	dodd	dodd	PROPN
cblr-2899	458	6	-	-	PUNCT
cblr-2899	458	7	frank	frank	ADJ
cblr-2899	458	8	forfeiture	forfeiture	NOUN
cblr-2899	458	9	of	of	ADP
cblr-2899	458	10	the	the	DET
cblr-2899	458	11	nrsro	nrsro	ADJ
cblr-2899	458	12	status	status	NOUN
cblr-2899	458	13	would	would	AUX
cblr-2899	458	14	heavily	heavily	ADV
cblr-2899	458	15	stigmatize	stigmatize	VERB
cblr-2899	458	16	a	a	DET
cblr-2899	458	17	rating	rating	NOUN
cblr-2899	458	18	agency	agency	NOUN
cblr-2899	458	19	operating	operate	VERB
cblr-2899	458	20	in	in	ADP
cblr-2899	458	21	136	136	NUM
cblr-2899	458	22	harris	harris	NOUN
cblr-2899	458	23	,	,	PUNCT
cblr-2899	458	24	supra	supra	PROPN
cblr-2899	458	25	note	note	PROPN
cblr-2899	458	26	135	135	NUM
cblr-2899	458	27	.	.	SYM
cblr-2899	458	28	137	137	NUM
cblr-2899	458	29	hunt	hunt	NOUN
cblr-2899	458	30	,	,	PUNCT
cblr-2899	458	31	supra	supra	PROPN
cblr-2899	458	32	note	note	PROPN
cblr-2899	458	33	133	133	NUM
cblr-2899	458	34	,	,	PUNCT
cblr-2899	458	35	at	at	ADP
cblr-2899	458	36	156	156	NUM
cblr-2899	458	37	.	.	PUNCT
cblr-2899	459	1	138	138	NUM
cblr-2899	460	1	i	i	PRON
cblr-2899	460	2	d.	d.	PROPN
cblr-2899	460	3	at	at	ADP
cblr-2899	460	4	163	163	NUM
cblr-2899	460	5	-	-	SYM
cblr-2899	460	6	64	64	NUM
cblr-2899	460	7	.	.	PUNCT
cblr-2899	460	8	139	139	NUM
cblr-2899	461	1	i	i	PRON
cblr-2899	461	2	d.	d.	NOUN
cblr-2899	461	3	at	at	ADP
cblr-2899	461	4	182	182	NUM
cblr-2899	461	5	.	.	PUNCT
cblr-2899	462	1	140	140	NUM
cblr-2899	463	1	i	i	NOUN
cblr-2899	463	2	d.	d.	PROPN
cblr-2899	463	3	141	141	NUM
cblr-2899	464	1	i	i	PRON
cblr-2899	464	2	d.	d.	PROPN
cblr-2899	464	3	142	142	NUM
cblr-2899	464	4	2007	2007	NUM
cblr-2899	464	5	hearings	hearing	NOUN
cblr-2899	464	6	,	,	PUNCT
cblr-2899	464	7	supra	supra	PROPN
cblr-2899	464	8	note	note	PROPN
cblr-2899	464	9	38	38	NUM
cblr-2899	464	10	,	,	PUNCT
cblr-2899	464	11	at	at	ADP
cblr-2899	464	12	13	13	NUM
cblr-2899	464	13	-	-	SYM
cblr-2899	464	14	14	14	NUM
cblr-2899	464	15	.	.	PUNCT
cblr-2899	465	1	143	143	NUM
cblr-2899	466	1	i	i	PRON
cblr-2899	466	2	d.	d.	PROPN
cblr-2899	466	3	regulating	regulate	VERB
cblr-2899	466	4	credit	credit	NOUN
cblr-2899	466	5	rating	rating	NOUN
cblr-2899	466	6	agencies	agency	NOUN
cblr-2899	466	7	1027no	1027no	PROPN
cblr-2899	466	8	.	.	PUNCT
cblr-2899	467	1	3:994]1	3:994]1	NUM
cblr-2899	467	2	columbia	columbia	PROPN
cblr-2899	467	3	business	business	NOUN
cblr-2899	467	4	law	law	PROPN
cblr-2899	467	5	review	review	VERB
cblr-2899	467	6	an	an	DET
cblr-2899	467	7	industry	industry	NOUN
cblr-2899	467	8	where	where	SCONJ
cblr-2899	467	9	reputation	reputation	NOUN
cblr-2899	467	10	is	be	AUX
cblr-2899	467	11	essential	essential	ADJ
cblr-2899	467	12	.	.	PUNCT
cblr-2899	468	1	144	144	NUM
cblr-2899	468	2	a	a	DET
cblr-2899	468	3	drawback	drawback	NOUN
cblr-2899	468	4	professor	professor	NOUN
cblr-2899	468	5	coffee	coffee	NOUN
cblr-2899	468	6	identifies	identify	VERB
cblr-2899	468	7	himself	himself	PRON
cblr-2899	468	8	is	be	AUX
cblr-2899	468	9	that	that	SCONJ
cblr-2899	468	10	"	"	PUNCT
cblr-2899	468	11	it	it	PRON
cblr-2899	468	12	could	could	AUX
cblr-2899	468	13	happen	happen	VERB
cblr-2899	468	14	that	that	SCONJ
cblr-2899	468	15	all	all	DET
cblr-2899	468	16	the	the	DET
cblr-2899	468	17	major	major	ADJ
cblr-2899	468	18	rating	rating	NOUN
cblr-2899	468	19	agencies	agency	NOUN
cblr-2899	468	20	might	might	AUX
cblr-2899	468	21	forfeit	forfeit	VERB
cblr-2899	468	22	their	their	PRON
cblr-2899	468	23	nrsro	nrsro	ADJ
cblr-2899	468	24	status	status	NOUN
cblr-2899	468	25	(	(	PUNCT
cblr-2899	468	26	for	for	SCONJ
cblr-2899	468	27	at	at	ADV
cblr-2899	468	28	least	least	ADJ
cblr-2899	468	29	some	some	PRON
cblr-2899	468	30	ratings	rating	NOUN
cblr-2899	468	31	or	or	CCONJ
cblr-2899	468	32	some	some	DET
cblr-2899	468	33	products)."145	products)."145	NOUN
cblr-2899	468	34	listokin	listokin	NOUN
cblr-2899	468	35	and	and	CCONJ
cblr-2899	468	36	taibleson	taibleson	NOUN
cblr-2899	468	37	propose	propose	VERB
cblr-2899	468	38	another	another	DET
cblr-2899	468	39	creative	creative	ADJ
cblr-2899	468	40	idea	idea	NOUN
cblr-2899	468	41	:	:	PUNCT
cblr-2899	468	42	to	to	PART
cblr-2899	468	43	require	require	VERB
cblr-2899	468	44	fees	fee	NOUN
cblr-2899	468	45	to	to	PART
cblr-2899	468	46	be	be	AUX
cblr-2899	468	47	paid	pay	VERB
cblr-2899	468	48	in	in	ADP
cblr-2899	468	49	the	the	DET
cblr-2899	468	50	form	form	NOUN
cblr-2899	468	51	of	of	ADP
cblr-2899	468	52	the	the	DET
cblr-2899	468	53	actual	actual	ADJ
cblr-2899	468	54	securities	security	NOUN
cblr-2899	468	55	that	that	PRON
cblr-2899	468	56	are	be	AUX
cblr-2899	468	57	being	be	AUX
cblr-2899	468	58	rated	rate	VERB
cblr-2899	468	59	instead	instead	ADV
cblr-2899	468	60	of	of	ADP
cblr-2899	468	61	cash	cash	NOUN
cblr-2899	468	62	.	.	PUNCT
cblr-2899	469	1	this	this	PRON
cblr-2899	469	2	would	would	AUX
cblr-2899	469	3	cause	cause	VERB
cblr-2899	469	4	the	the	DET
cblr-2899	469	5	cost	cost	NOUN
cblr-2899	469	6	of	of	ADP
cblr-2899	469	7	inflating	inflate	VERB
cblr-2899	469	8	the	the	DET
cblr-2899	469	9	value	value	NOUN
cblr-2899	469	10	of	of	ADP
cblr-2899	469	11	rated	rate	VERB
cblr-2899	469	12	securities	security	NOUN
cblr-2899	469	13	to	to	PART
cblr-2899	469	14	fall	fall	VERB
cblr-2899	469	15	on	on	ADP
cblr-2899	469	16	the	the	DET
cblr-2899	469	17	rating	rating	NOUN
cblr-2899	469	18	agency	agency	NOUN
cblr-2899	469	19	.	.	PUNCT
cblr-2899	470	1	14	14	NUM
cblr-2899	471	1	this	this	PRON
cblr-2899	471	2	happens	happen	VERB
cblr-2899	471	3	because	because	SCONJ
cblr-2899	471	4	aaa	aaa	NOUN
cblr-2899	471	5	securities	security	NOUN
cblr-2899	471	6	are	be	AUX
cblr-2899	471	7	worth	worth	ADJ
cblr-2899	471	8	more	more	ADJ
cblr-2899	471	9	than	than	ADP
cblr-2899	471	10	bbb	bbb	PROPN
cblr-2899	471	11	securities	security	NOUN
cblr-2899	471	12	and	and	CCONJ
cblr-2899	471	13	so	so	ADV
cblr-2899	471	14	fewer	few	ADJ
cblr-2899	471	15	units	unit	NOUN
cblr-2899	471	16	of	of	ADP
cblr-2899	471	17	debt	debt	NOUN
cblr-2899	471	18	would	would	AUX
cblr-2899	471	19	be	be	AUX
cblr-2899	471	20	required	require	VERB
cblr-2899	471	21	to	to	PART
cblr-2899	471	22	pay	pay	VERB
cblr-2899	471	23	off	off	ADP
cblr-2899	471	24	a	a	DET
cblr-2899	471	25	standard	standard	NOUN
cblr-2899	471	26	,	,	PUNCT
cblr-2899	471	27	predetermined	predetermine	VERB
cblr-2899	471	28	rating	rating	NOUN
cblr-2899	471	29	fee	fee	NOUN
cblr-2899	471	30	.	.	PUNCT
cblr-2899	472	1	therefore	therefore	ADV
cblr-2899	472	2	,	,	PUNCT
cblr-2899	472	3	misrating	misrate	VERB
cblr-2899	472	4	a	a	DET
cblr-2899	472	5	risky	risky	ADJ
cblr-2899	472	6	security	security	NOUN
cblr-2899	472	7	as	as	ADP
cblr-2899	472	8	aaa	aaa	NOUN
cblr-2899	472	9	instead	instead	ADV
cblr-2899	472	10	of	of	ADP
cblr-2899	472	11	bbb	bbb	PROPN
cblr-2899	472	12	would	would	AUX
cblr-2899	472	13	cause	cause	VERB
cblr-2899	472	14	the	the	DET
cblr-2899	472	15	cra	cra	PROPN
cblr-2899	472	16	to	to	PART
cblr-2899	472	17	be	be	AUX
cblr-2899	472	18	compensated	compensate	VERB
cblr-2899	472	19	with	with	ADP
cblr-2899	472	20	fewer	few	ADJ
cblr-2899	472	21	units	unit	NOUN
cblr-2899	472	22	of	of	ADP
cblr-2899	472	23	debt	debt	NOUN
cblr-2899	472	24	than	than	SCONJ
cblr-2899	472	25	would	would	AUX
cblr-2899	472	26	actually	actually	ADV
cblr-2899	472	27	be	be	AUX
cblr-2899	472	28	required	require	VERB
cblr-2899	472	29	to	to	PART
cblr-2899	472	30	meet	meet	VERB
cblr-2899	472	31	the	the	DET
cblr-2899	472	32	value	value	NOUN
cblr-2899	472	33	of	of	ADP
cblr-2899	472	34	the	the	DET
cblr-2899	472	35	predetermined	predetermine	VERB
cblr-2899	472	36	rating	rating	NOUN
cblr-2899	472	37	fee	fee	NOUN
cblr-2899	472	38	.	.	PUNCT
cblr-2899	473	1	this	this	PRON
cblr-2899	473	2	means	mean	VERB
cblr-2899	473	3	the	the	DET
cblr-2899	473	4	raters	rater	NOUN
cblr-2899	473	5	should	should	AUX
cblr-2899	473	6	have	have	AUX
cblr-2899	473	7	earned	earn	VERB
cblr-2899	473	8	and	and	CCONJ
cblr-2899	473	9	received	receive	VERB
cblr-2899	473	10	more	more	ADJ
cblr-2899	473	11	units	unit	NOUN
cblr-2899	473	12	of	of	ADP
cblr-2899	473	13	debt	debt	NOUN
cblr-2899	473	14	as	as	ADP
cblr-2899	473	15	compensation	compensation	NOUN
cblr-2899	473	16	.	.	PUNCT
cblr-2899	474	1	14	14	NUM
cblr-2899	474	2	professor	professor	NOUN
cblr-2899	474	3	coffee	coffee	NOUN
cblr-2899	474	4	points	point	VERB
cblr-2899	474	5	out	out	ADP
cblr-2899	474	6	that	that	SCONJ
cblr-2899	474	7	cras	cras	PROPN
cblr-2899	474	8	could	could	AUX
cblr-2899	474	9	undermine	undermine	VERB
cblr-2899	474	10	this	this	DET
cblr-2899	474	11	proposal	proposal	NOUN
cblr-2899	474	12	by	by	ADP
cblr-2899	474	13	immediately	immediately	ADV
cblr-2899	474	14	selling	sell	VERB
cblr-2899	474	15	the	the	DET
cblr-2899	474	16	debt	debt	NOUN
cblr-2899	474	17	securities	security	NOUN
cblr-2899	474	18	before	before	SCONJ
cblr-2899	474	19	any	any	DET
cblr-2899	474	20	misrating	misrating	NOUN
cblr-2899	474	21	was	be	AUX
cblr-2899	474	22	discovered	discover	VERB
cblr-2899	474	23	.	.	PUNCT
cblr-2899	475	1	1	1	NUM
cblr-2899	475	2	48	48	NUM
cblr-2899	475	3	furthermore	furthermore	ADV
cblr-2899	475	4	,	,	PUNCT
cblr-2899	475	5	"	"	PUNCT
cblr-2899	475	6	if	if	SCONJ
cblr-2899	475	7	sales	sale	NOUN
cblr-2899	475	8	were	be	AUX
cblr-2899	475	9	restricted	restrict	VERB
cblr-2899	475	10	then	then	ADV
cblr-2899	475	11	the	the	DET
cblr-2899	475	12	cra	cra	PROPN
cblr-2899	475	13	would	would	AUX
cblr-2899	475	14	have	have	VERB
cblr-2899	475	15	to	to	PART
cblr-2899	475	16	hold	hold	VERB
cblr-2899	475	17	a	a	DET
cblr-2899	475	18	sizable	sizable	ADJ
cblr-2899	475	19	portfolio	portfolio	NOUN
cblr-2899	475	20	of	of	ADP
cblr-2899	475	21	securities	security	NOUN
cblr-2899	475	22	with	with	ADP
cblr-2899	475	23	resulting	result	VERB
cblr-2899	475	24	liquidity	liquidity	NOUN
cblr-2899	475	25	...	...	PUNCT
cblr-2899	475	26	problems	problem	NOUN
cblr-2899	475	27	.	.	PUNCT
cblr-2899	476	1	"	"	PUNCT
cblr-2899	476	2	"	"	PUNCT
cblr-2899	476	3	'	'	PUNCT
cblr-2899	476	4	one	one	NUM
cblr-2899	476	5	possible	possible	ADJ
cblr-2899	476	6	solution	solution	NOUN
cblr-2899	476	7	would	would	AUX
cblr-2899	476	8	be	be	AUX
cblr-2899	476	9	to	to	PART
cblr-2899	476	10	require	require	VERB
cblr-2899	476	11	a	a	DET
cblr-2899	476	12	clawback	clawback	NOUN
cblr-2899	476	13	of	of	ADP
cblr-2899	476	14	funds	fund	NOUN
cblr-2899	476	15	at	at	ADP
cblr-2899	476	16	the	the	DET
cblr-2899	476	17	time	time	NOUN
cblr-2899	476	18	the	the	DET
cblr-2899	476	19	misrating	misrating	NOUN
cblr-2899	476	20	is	be	AUX
cblr-2899	476	21	discovered	discover	VERB
cblr-2899	476	22	.	.	PUNCT
cblr-2899	477	1	the	the	DET
cblr-2899	477	2	greatest	great	ADJ
cblr-2899	477	3	advantage	advantage	NOUN
cblr-2899	477	4	of	of	ADP
cblr-2899	477	5	these	these	DET
cblr-2899	477	6	sanction	sanction	NOUN
cblr-2899	477	7	-	-	PUNCT
cblr-2899	477	8	type	type	NOUN
cblr-2899	477	9	proposals	proposal	NOUN
cblr-2899	477	10	is	be	AUX
cblr-2899	477	11	that	that	SCONJ
cblr-2899	477	12	they	they	PRON
cblr-2899	477	13	could	could	AUX
cblr-2899	477	14	be	be	AUX
cblr-2899	477	15	administered	administer	VERB
cblr-2899	477	16	at	at	ADP
cblr-2899	477	17	low	low	ADJ
cblr-2899	477	18	cost	cost	NOUN
cblr-2899	477	19	once	once	SCONJ
cblr-2899	477	20	default	default	NOUN
cblr-2899	477	21	criteria	criterion	NOUN
cblr-2899	477	22	have	have	AUX
cblr-2899	477	23	been	be	AUX
cblr-2899	477	24	established	establish	VERB
cblr-2899	477	25	,	,	PUNCT
cblr-2899	477	26	since	since	SCONJ
cblr-2899	477	27	they	they	PRON
cblr-2899	477	28	are	be	AUX
cblr-2899	477	29	essentially	essentially	ADV
cblr-2899	477	30	quasi	quasi	ADJ
cblr-2899	477	31	-	-	ADJ
cblr-2899	477	32	strict	strict	ADJ
cblr-2899	477	33	liability	liability	NOUN
cblr-2899	477	34	regimes.150	regimes.150	VERB
cblr-2899	477	35	also	also	ADV
cblr-2899	477	36	,	,	PUNCT
cblr-2899	477	37	the	the	DET
cblr-2899	477	38	sanctions	sanction	NOUN
cblr-2899	477	39	are	be	AUX
cblr-2899	477	40	measured	measure	VERB
cblr-2899	477	41	,	,	PUNCT
cblr-2899	477	42	unlike	unlike	ADP
cblr-2899	477	43	the	the	DET
cblr-2899	477	44	potentially	potentially	ADV
cblr-2899	477	45	excessive	excessive	ADJ
cblr-2899	477	46	and	and	CCONJ
cblr-2899	477	47	unlimited	unlimited	ADJ
cblr-2899	477	48	civil	civil	ADJ
cblr-2899	477	49	liability	liability	NOUN
cblr-2899	477	50	under	under	ADP
cblr-2899	477	51	dodd	dodd	PROPN
cblr-2899	477	52	-	-	PUNCT
cblr-2899	477	53	frank	frank	PROPN
cblr-2899	477	54	.	.	PUNCT
cblr-2899	477	55	'	'	PUNCT
cblr-2899	478	1	5	5	NUM
cblr-2899	478	2	'	'	PUNCT
cblr-2899	478	3	however	however	ADV
cblr-2899	478	4	,	,	PUNCT
cblr-2899	478	5	disgorging	disgorge	VERB
cblr-2899	478	6	profits	profit	NOUN
cblr-2899	478	7	or	or	CCONJ
cblr-2899	478	8	requiring	require	VERB
cblr-2899	478	9	funds	fund	NOUN
cblr-2899	478	10	to	to	PART
cblr-2899	478	11	be	be	AUX
cblr-2899	478	12	escrowed	escrowe	VERB
cblr-2899	478	13	could	could	AUX
cblr-2899	478	14	lead	lead	VERB
cblr-2899	478	15	to	to	ADP
cblr-2899	478	16	144	144	NUM
cblr-2899	478	17	darcy	darcy	PROPN
cblr-2899	478	18	,	,	PUNCT
cblr-2899	478	19	supra	supra	PROPN
cblr-2899	478	20	note	note	PROPN
cblr-2899	478	21	41	41	NUM
cblr-2899	478	22	,	,	PUNCT
cblr-2899	478	23	at	at	ADP
cblr-2899	478	24	664	664	NUM
cblr-2899	478	25	.	.	PROPN
cblr-2899	478	26	145	145	NUM
cblr-2899	478	27	2007	2007	NUM
cblr-2899	478	28	hearings	hearing	NOUN
cblr-2899	478	29	,	,	PUNCT
cblr-2899	478	30	supra	supra	PROPN
cblr-2899	478	31	note	note	PROPN
cblr-2899	478	32	38	38	NUM
cblr-2899	478	33	,	,	PUNCT
cblr-2899	478	34	at	at	ADP
cblr-2899	478	35	15	15	NUM
cblr-2899	478	36	.	.	PUNCT
cblr-2899	479	1	146	146	NUM
cblr-2899	479	2	listokin	listokin	NOUN
cblr-2899	479	3	&	&	CCONJ
cblr-2899	479	4	taibleson	taibleson	PROPN
cblr-2899	479	5	,	,	PUNCT
cblr-2899	479	6	supra	supra	PROPN
cblr-2899	479	7	note	note	NOUN
cblr-2899	479	8	111	111	NUM
cblr-2899	479	9	,	,	PUNCT
cblr-2899	479	10	at	at	ADP
cblr-2899	479	11	105	105	NUM
cblr-2899	479	12	-	-	SYM
cblr-2899	479	13	06	06	NUM
cblr-2899	479	14	.	.	PUNCT
cblr-2899	480	1	147	147	NUM
cblr-2899	481	1	i	i	PRON
cblr-2899	481	2	d.	d.	NOUN
cblr-2899	481	3	148	148	NUM
cblr-2899	481	4	coffee	coffee	NOUN
cblr-2899	481	5	,	,	PUNCT
cblr-2899	481	6	supra	supra	PROPN
cblr-2899	481	7	note	note	NOUN
cblr-2899	481	8	33	33	NUM
cblr-2899	481	9	,	,	PUNCT
cblr-2899	481	10	at	at	ADP
cblr-2899	481	11	254	254	NUM
cblr-2899	481	12	.	.	NOUN
cblr-2899	481	13	149	149	NUM
cblr-2899	482	1	i	i	PRON
cblr-2899	482	2	d.	d.	PROPN
cblr-2899	482	3	150	150	NUM
cblr-2899	482	4	see	see	VERB
cblr-2899	482	5	darcy	darcy	PROPN
cblr-2899	482	6	,	,	PUNCT
cblr-2899	482	7	supra	supra	PROPN
cblr-2899	482	8	note	note	PROPN
cblr-2899	482	9	41	41	NUM
cblr-2899	482	10	,	,	PUNCT
cblr-2899	482	11	at	at	ADP
cblr-2899	482	12	662	662	NUM
cblr-2899	482	13	.	.	PUNCT
cblr-2899	483	1	151	151	NUM
cblr-2899	483	2	i	i	PRON
cblr-2899	483	3	d.	d.	VERB
cblr-2899	483	4	at	at	ADP
cblr-2899	483	5	664	664	NUM
cblr-2899	483	6	.	.	NOUN
cblr-2899	483	7	1028	1028	NUM
cblr-2899	484	1	[	[	X
cblr-2899	484	2	vol	vol	NOUN
cblr-2899	484	3	.	.	NOUN
cblr-2899	484	4	2012	2012	NUM
cblr-2899	484	5	regulating	regulate	VERB
cblr-2899	484	6	credit	credit	NOUN
cblr-2899	484	7	ra	ra	PROPN
cblr-2899	484	8	ting	ting	PROPN
cblr-2899	484	9	agencies	agencies	PROPN
cblr-2899	484	10	significant	significant	ADJ
cblr-2899	484	11	liquidity	liquidity	NOUN
cblr-2899	484	12	constraints	constraint	NOUN
cblr-2899	484	13	.	.	PUNCT
cblr-2899	485	1	one	one	NUM
cblr-2899	485	2	suggestion	suggestion	NOUN
cblr-2899	485	3	to	to	PART
cblr-2899	485	4	deal	deal	VERB
cblr-2899	485	5	with	with	ADP
cblr-2899	485	6	any	any	DET
cblr-2899	485	7	liquidity	liquidity	NOUN
cblr-2899	485	8	concerns	concern	NOUN
cblr-2899	485	9	is	be	AUX
cblr-2899	485	10	to	to	PART
cblr-2899	485	11	allow	allow	VERB
cblr-2899	485	12	the	the	DET
cblr-2899	485	13	cras	cras	PROPN
cblr-2899	485	14	to	to	PART
cblr-2899	485	15	borrow	borrow	VERB
cblr-2899	485	16	money	money	NOUN
cblr-2899	485	17	against	against	ADP
cblr-2899	485	18	the	the	DET
cblr-2899	485	19	escrowed	escrowe	VERB
cblr-2899	485	20	funds	fund	NOUN
cblr-2899	485	21	and	and	CCONJ
cblr-2899	485	22	use	use	VERB
cblr-2899	485	23	their	their	PRON
cblr-2899	485	24	"	"	PUNCT
cblr-2899	485	25	future	future	ADJ
cblr-2899	485	26	contingent	contingent	NOUN
cblr-2899	485	27	payments	payment	NOUN
cblr-2899	485	28	as	as	ADP
cblr-2899	485	29	collateral	collateral	NOUN
cblr-2899	485	30	.	.	PUNCT
cblr-2899	486	1	"152	"152	PROPN
cblr-2899	486	2	vii	vii	PROPN
cblr-2899	486	3	.	.	PUNCT
cblr-2899	487	1	a	a	DET
cblr-2899	487	2	new	new	ADJ
cblr-2899	487	3	proposal	proposal	NOUN
cblr-2899	487	4	the	the	DET
cblr-2899	487	5	literature	literature	NOUN
cblr-2899	487	6	dedicated	dedicate	VERB
cblr-2899	487	7	to	to	ADP
cblr-2899	487	8	cra	cra	PROPN
cblr-2899	487	9	reform	reform	NOUN
cblr-2899	487	10	tends	tend	VERB
cblr-2899	487	11	to	to	PART
cblr-2899	487	12	encourage	encourage	VERB
cblr-2899	487	13	some	some	DET
cblr-2899	487	14	version	version	NOUN
cblr-2899	487	15	of	of	ADP
cblr-2899	487	16	the	the	DET
cblr-2899	487	17	investor	investor	NOUN
cblr-2899	487	18	-	-	PUNCT
cblr-2899	487	19	pays	pay	NOUN
cblr-2899	487	20	model	model	NOUN
cblr-2899	487	21	that	that	PRON
cblr-2899	487	22	is	be	AUX
cblr-2899	487	23	mandated	mandate	VERB
cblr-2899	487	24	and	and	CCONJ
cblr-2899	487	25	supervised	supervise	VERB
cblr-2899	487	26	through	through	ADP
cblr-2899	487	27	regulation	regulation	NOUN
cblr-2899	487	28	.	.	PUNCT
cblr-2899	488	1	a	a	DET
cblr-2899	488	2	good	good	ADJ
cblr-2899	488	3	solution	solution	NOUN
cblr-2899	488	4	would	would	AUX
cblr-2899	488	5	encourage	encourage	VERB
cblr-2899	488	6	rating	rating	NOUN
cblr-2899	488	7	agencies	agency	NOUN
cblr-2899	488	8	to	to	PART
cblr-2899	488	9	compete	compete	VERB
cblr-2899	488	10	for	for	ADP
cblr-2899	488	11	the	the	DET
cblr-2899	488	12	favor	favor	NOUN
cblr-2899	488	13	of	of	ADP
cblr-2899	488	14	the	the	DET
cblr-2899	488	15	investing	invest	VERB
cblr-2899	488	16	public	public	NOUN
cblr-2899	488	17	instead	instead	ADV
cblr-2899	488	18	of	of	ADP
cblr-2899	488	19	the	the	DET
cblr-2899	488	20	issuers	issuer	NOUN
cblr-2899	488	21	.	.	PUNCT
cblr-2899	489	1	although	although	SCONJ
cblr-2899	489	2	the	the	DET
cblr-2899	489	3	franken	franken	NOUN
cblr-2899	489	4	proposal	proposal	NOUN
cblr-2899	489	5	is	be	AUX
cblr-2899	489	6	one	one	NUM
cblr-2899	489	7	possibility	possibility	NOUN
cblr-2899	489	8	in	in	ADP
cblr-2899	489	9	the	the	DET
cblr-2899	489	10	spirit	spirit	NOUN
cblr-2899	489	11	of	of	ADP
cblr-2899	489	12	such	such	ADJ
cblr-2899	489	13	reform	reform	NOUN
cblr-2899	489	14	,	,	PUNCT
cblr-2899	489	15	there	there	PRON
cblr-2899	489	16	are	be	VERB
cblr-2899	489	17	several	several	ADJ
cblr-2899	489	18	shortcomings	shortcoming	NOUN
cblr-2899	489	19	with	with	ADP
cblr-2899	489	20	that	that	DET
cblr-2899	489	21	proposal	proposal	NOUN
cblr-2899	489	22	.	.	PUNCT
cblr-2899	490	1	153	153	NUM
cblr-2899	490	2	after	after	ADP
cblr-2899	490	3	reviewing	review	VERB
cblr-2899	490	4	alternative	alternative	ADJ
cblr-2899	490	5	proposals	proposal	NOUN
cblr-2899	490	6	and	and	CCONJ
cblr-2899	490	7	pulling	pull	VERB
cblr-2899	490	8	together	together	ADV
cblr-2899	490	9	these	these	DET
cblr-2899	490	10	ideas	idea	NOUN
cblr-2899	490	11	,	,	PUNCT
cblr-2899	490	12	this	this	DET
cblr-2899	490	13	note	note	NOUN
cblr-2899	490	14	proposes	propose	VERB
cblr-2899	490	15	a	a	DET
cblr-2899	490	16	new	new	ADJ
cblr-2899	490	17	solution	solution	NOUN
cblr-2899	490	18	which	which	PRON
cblr-2899	490	19	contains	contain	VERB
cblr-2899	490	20	three	three	NUM
cblr-2899	490	21	basic	basic	ADJ
cblr-2899	490	22	tenets	tenet	NOUN
cblr-2899	490	23	:	:	PUNCT
cblr-2899	490	24	(	(	PUNCT
cblr-2899	490	25	1	1	X
cblr-2899	490	26	)	)	PUNCT
cblr-2899	490	27	a	a	DET
cblr-2899	490	28	requirement	requirement	NOUN
cblr-2899	490	29	that	that	SCONJ
cblr-2899	490	30	issuers	issuer	NOUN
cblr-2899	490	31	obtain	obtain	VERB
cblr-2899	490	32	a	a	DET
cblr-2899	490	33	vote	vote	NOUN
cblr-2899	490	34	from	from	ADP
cblr-2899	490	35	their	their	PRON
cblr-2899	490	36	most	most	ADV
cblr-2899	490	37	important	important	ADJ
cblr-2899	490	38	potential	potential	ADJ
cblr-2899	490	39	investors	investor	NOUN
cblr-2899	490	40	in	in	ADP
cblr-2899	490	41	order	order	NOUN
cblr-2899	490	42	to	to	PART
cblr-2899	490	43	allow	allow	VERB
cblr-2899	490	44	investors	investor	NOUN
cblr-2899	490	45	to	to	PART
cblr-2899	490	46	determine	determine	VERB
cblr-2899	490	47	which	which	PRON
cblr-2899	490	48	cra	cra	PROPN
cblr-2899	490	49	is	be	AUX
cblr-2899	490	50	hired	hire	VERB
cblr-2899	490	51	by	by	ADP
cblr-2899	490	52	the	the	DET
cblr-2899	490	53	issuer	issuer	NOUN
cblr-2899	490	54	;	;	PUNCT
cblr-2899	490	55	(	(	PUNCT
cblr-2899	490	56	2	2	X
cblr-2899	490	57	)	)	PUNCT
cblr-2899	490	58	the	the	DET
cblr-2899	490	59	creation	creation	NOUN
cblr-2899	490	60	of	of	ADP
cblr-2899	490	61	a	a	DET
cblr-2899	490	62	governmental	governmental	ADJ
cblr-2899	490	63	agency	agency	NOUN
cblr-2899	490	64	orbetter	orbetter	NOUN
cblr-2899	490	65	yet	yet	ADV
cblr-2899	490	66	-	-	PUNCT
cblr-2899	490	67	a	a	DET
cblr-2899	490	68	self	self	NOUN
cblr-2899	490	69	regulatory	regulatory	ADJ
cblr-2899	490	70	organization	organization	NOUN
cblr-2899	490	71	that	that	PRON
cblr-2899	490	72	evaluates	evaluate	VERB
cblr-2899	490	73	and	and	CCONJ
cblr-2899	490	74	ranks	rank	VERB
cblr-2899	490	75	the	the	DET
cblr-2899	490	76	performance	performance	NOUN
cblr-2899	490	77	of	of	ADP
cblr-2899	490	78	the	the	DET
cblr-2899	490	79	individual	individual	ADJ
cblr-2899	490	80	cras	cras	X
cblr-2899	490	81	;	;	PUNCT
cblr-2899	490	82	and	and	CCONJ
cblr-2899	490	83	(	(	PUNCT
cblr-2899	490	84	3	3	X
cblr-2899	490	85	)	)	PUNCT
cblr-2899	490	86	a	a	DET
cblr-2899	490	87	requirement	requirement	NOUN
cblr-2899	490	88	that	that	SCONJ
cblr-2899	490	89	issuers	issuer	NOUN
cblr-2899	490	90	obtain	obtain	VERB
cblr-2899	490	91	a	a	DET
cblr-2899	490	92	second	second	ADJ
cblr-2899	490	93	rating	rating	NOUN
cblr-2899	490	94	when	when	SCONJ
cblr-2899	490	95	their	their	PRON
cblr-2899	490	96	investors	investor	NOUN
cblr-2899	490	97	vote	vote	VERB
cblr-2899	490	98	to	to	PART
cblr-2899	490	99	hire	hire	VERB
cblr-2899	490	100	a	a	DET
cblr-2899	490	101	cra	cra	NOUN
cblr-2899	490	102	whose	whose	DET
cblr-2899	490	103	performance	performance	NOUN
cblr-2899	490	104	has	have	AUX
cblr-2899	490	105	proven	prove	VERB
cblr-2899	490	106	inadequate	inadequate	ADJ
cblr-2899	490	107	for	for	ADP
cblr-2899	490	108	a	a	DET
cblr-2899	490	109	particular	particular	ADJ
cblr-2899	490	110	asset	asset	NOUN
cblr-2899	490	111	class	class	NOUN
cblr-2899	490	112	,	,	PUNCT
cblr-2899	490	113	based	base	VERB
cblr-2899	490	114	on	on	ADP
cblr-2899	490	115	the	the	DET
cblr-2899	490	116	ranking	ranking	NOUN
cblr-2899	490	117	of	of	ADP
cblr-2899	490	118	the	the	DET
cblr-2899	490	119	agency	agency	NOUN
cblr-2899	490	120	or	or	CCONJ
cblr-2899	490	121	self	self	NOUN
cblr-2899	490	122	regulatory	regulatory	ADJ
cblr-2899	490	123	organization	organization	NOUN
cblr-2899	490	124	in	in	ADP
cblr-2899	490	125	part	part	NOUN
cblr-2899	490	126	(	(	PUNCT
cblr-2899	490	127	2	2	NUM
cblr-2899	490	128	)	)	PUNCT
cblr-2899	490	129	of	of	ADP
cblr-2899	490	130	this	this	DET
cblr-2899	490	131	proposal	proposal	NOUN
cblr-2899	490	132	.	.	PUNCT
cblr-2899	491	1	if	if	SCONJ
cblr-2899	491	2	the	the	DET
cblr-2899	491	3	cra	cra	PROPN
cblr-2899	491	4	selected	select	VERB
cblr-2899	491	5	by	by	ADP
cblr-2899	491	6	the	the	DET
cblr-2899	491	7	voting	voting	NOUN
cblr-2899	491	8	investors	investor	NOUN
cblr-2899	491	9	is	be	AUX
cblr-2899	491	10	one	one	NUM
cblr-2899	491	11	ranked	rank	VERB
cblr-2899	491	12	lower	lower	ADV
cblr-2899	491	13	than	than	ADP
cblr-2899	491	14	,	,	PUNCT
cblr-2899	491	15	for	for	ADP
cblr-2899	491	16	instance	instance	NOUN
cblr-2899	491	17	,	,	PUNCT
cblr-2899	491	18	third	third	ADJ
cblr-2899	491	19	place	place	NOUN
cblr-2899	491	20	,	,	PUNCT
cblr-2899	491	21	a	a	DET
cblr-2899	491	22	second	second	ADJ
cblr-2899	491	23	rating	rating	NOUN
cblr-2899	491	24	will	will	AUX
cblr-2899	491	25	have	have	VERB
cblr-2899	491	26	to	to	PART
cblr-2899	491	27	be	be	AUX
cblr-2899	491	28	purchased	purchase	VERB
cblr-2899	491	29	from	from	ADP
cblr-2899	491	30	one	one	NUM
cblr-2899	491	31	of	of	ADP
cblr-2899	491	32	the	the	DET
cblr-2899	491	33	top	top	ADJ
cblr-2899	491	34	three	three	NUM
cblr-2899	491	35	cras	cras	X
cblr-2899	491	36	.	.	PUNCT
cblr-2899	492	1	a.	a.	NOUN
cblr-2899	492	2	vote	vote	NOUN
cblr-2899	492	3	of	of	ADP
cblr-2899	492	4	the	the	DET
cblr-2899	492	5	largest	large	ADJ
cblr-2899	492	6	institutional	institutional	ADJ
cblr-2899	492	7	investors	investor	NOUN
cblr-2899	492	8	the	the	DET
cblr-2899	492	9	first	first	ADJ
cblr-2899	492	10	tenet	tenet	NOUN
cblr-2899	492	11	of	of	ADP
cblr-2899	492	12	the	the	DET
cblr-2899	492	13	proposal	proposal	NOUN
cblr-2899	492	14	aims	aim	VERB
cblr-2899	492	15	to	to	PART
cblr-2899	492	16	mitigate	mitigate	VERB
cblr-2899	492	17	the	the	DET
cblr-2899	492	18	conflict	conflict	NOUN
cblr-2899	492	19	of	of	ADP
cblr-2899	492	20	interest	interest	NOUN
cblr-2899	492	21	issue	issue	NOUN
cblr-2899	492	22	.	.	PUNCT
cblr-2899	493	1	the	the	DET
cblr-2899	493	2	idea	idea	NOUN
cblr-2899	493	3	is	be	AUX
cblr-2899	493	4	to	to	PART
cblr-2899	493	5	continue	continue	VERB
cblr-2899	493	6	to	to	PART
cblr-2899	493	7	have	have	VERB
cblr-2899	493	8	the	the	DET
cblr-2899	493	9	issuers	issuer	NOUN
cblr-2899	493	10	pay	pay	VERB
cblr-2899	493	11	for	for	ADP
cblr-2899	493	12	the	the	DET
cblr-2899	493	13	ratings	rating	NOUN
cblr-2899	493	14	,	,	PUNCT
cblr-2899	493	15	but	but	CCONJ
cblr-2899	493	16	require	require	VERB
cblr-2899	493	17	the	the	DET
cblr-2899	493	18	issuers	issuer	NOUN
cblr-2899	493	19	to	to	PART
cblr-2899	493	20	poll	poll	VERB
cblr-2899	493	21	their	their	PRON
cblr-2899	493	22	most	most	ADV
cblr-2899	493	23	significant	significant	ADJ
cblr-2899	493	24	,	,	PUNCT
cblr-2899	493	25	potential	potential	ADJ
cblr-2899	493	26	institutional	institutional	ADJ
cblr-2899	493	27	investors	investor	NOUN
cblr-2899	493	28	to	to	ADP
cblr-2899	493	29	152	152	NUM
cblr-2899	493	30	see	see	NOUN
cblr-2899	493	31	harris	harris	PROPN
cblr-2899	493	32	,	,	PUNCT
cblr-2899	494	1	supra	supra	PROPN
cblr-2899	494	2	note	note	PROPN
cblr-2899	494	3	135	135	NUM
cblr-2899	495	1	.	.	SYM
cblr-2899	495	2	153	153	NUM
cblr-2899	495	3	see	see	NOUN
cblr-2899	495	4	discussion	discussion	NOUN
cblr-2899	495	5	supra	supra	PROPN
cblr-2899	495	6	part	part	NOUN
cblr-2899	496	1	v.	v.	INTJ
cblr-2899	496	2	no	no	INTJ
cblr-2899	496	3	.	.	PUNCT
cblr-2899	497	1	3:994	3:994	NUM
cblr-2899	497	2	]	]	PUNCT
cblr-2899	497	3	1029	1029	NUM
cblr-2899	497	4	select	select	VERB
cblr-2899	497	5	the	the	DET
cblr-2899	497	6	investors	investor	NOUN
cblr-2899	497	7	'	'	PART
cblr-2899	497	8	preferred	preferred	ADJ
cblr-2899	497	9	cra.154	cra.154	NOUN
cblr-2899	497	10	such	such	DET
cblr-2899	497	11	a	a	DET
cblr-2899	497	12	system	system	NOUN
cblr-2899	497	13	will	will	AUX
cblr-2899	497	14	minimize	minimize	VERB
cblr-2899	497	15	the	the	DET
cblr-2899	497	16	issuer	issuer	NOUN
cblr-2899	497	17	-	-	PUNCT
cblr-2899	497	18	pays	pay	VERB
cblr-2899	497	19	conflict	conflict	NOUN
cblr-2899	497	20	of	of	ADP
cblr-2899	497	21	interest	interest	NOUN
cblr-2899	497	22	by	by	ADP
cblr-2899	497	23	ensuring	ensure	VERB
cblr-2899	497	24	that	that	SCONJ
cblr-2899	497	25	the	the	DET
cblr-2899	497	26	cra	cra	PROPN
cblr-2899	497	27	is	be	AUX
cblr-2899	497	28	chosen	choose	VERB
cblr-2899	497	29	by	by	ADP
cblr-2899	497	30	investors	investor	NOUN
cblr-2899	497	31	,	,	PUNCT
cblr-2899	497	32	not	not	PART
cblr-2899	497	33	issuers	issuer	NOUN
cblr-2899	497	34	,	,	PUNCT
cblr-2899	497	35	and	and	CCONJ
cblr-2899	497	36	will	will	AUX
cblr-2899	497	37	ensure	ensure	VERB
cblr-2899	497	38	that	that	SCONJ
cblr-2899	497	39	cras	cras	PROPN
cblr-2899	497	40	have	have	VERB
cblr-2899	497	41	an	an	DET
cblr-2899	497	42	incentive	incentive	NOUN
cblr-2899	497	43	"	"	PUNCT
cblr-2899	497	44	to	to	PART
cblr-2899	497	45	cater	cater	VERB
cblr-2899	497	46	their	their	PRON
cblr-2899	497	47	services	service	NOUN
cblr-2899	497	48	to	to	ADP
cblr-2899	497	49	investors	investor	NOUN
cblr-2899	497	50	.	.	PUNCT
cblr-2899	498	1	"15	"15	PUNCT
cblr-2899	498	2	5	5	NUM
cblr-2899	498	3	additionally	additionally	ADV
cblr-2899	498	4	,	,	PUNCT
cblr-2899	498	5	it	it	PRON
cblr-2899	498	6	will	will	AUX
cblr-2899	498	7	avoid	avoid	VERB
cblr-2899	498	8	free	free	ADJ
cblr-2899	498	9	riding	riding	NOUN
cblr-2899	498	10	problems	problem	NOUN
cblr-2899	498	11	associated	associate	VERB
cblr-2899	498	12	with	with	ADP
cblr-2899	498	13	investor	investor	NOUN
cblr-2899	498	14	-	-	PUNCT
cblr-2899	498	15	pays	pay	NOUN
cblr-2899	498	16	models	model	NOUN
cblr-2899	498	17	,	,	PUNCT
cblr-2899	498	18	since	since	SCONJ
cblr-2899	498	19	the	the	DET
cblr-2899	498	20	issuers	issuer	NOUN
cblr-2899	498	21	will	will	AUX
cblr-2899	498	22	continue	continue	VERB
cblr-2899	498	23	to	to	PART
cblr-2899	498	24	pay	pay	VERB
cblr-2899	498	25	for	for	ADP
cblr-2899	498	26	the	the	DET
cblr-2899	498	27	rating	rating	NOUN
cblr-2899	498	28	,	,	PUNCT
cblr-2899	498	29	and	and	CCONJ
cblr-2899	498	30	the	the	DET
cblr-2899	498	31	rating	rating	NOUN
cblr-2899	498	32	can	can	AUX
cblr-2899	498	33	be	be	AUX
cblr-2899	498	34	made	make	VERB
cblr-2899	498	35	public	public	ADJ
cblr-2899	498	36	immediately	immediately	ADV
cblr-2899	498	37	.	.	PUNCT
cblr-2899	499	1	the	the	DET
cblr-2899	499	2	most	most	ADV
cblr-2899	499	3	difficult	difficult	ADJ
cblr-2899	499	4	aspect	aspect	NOUN
cblr-2899	499	5	of	of	ADP
cblr-2899	499	6	the	the	DET
cblr-2899	499	7	investor	investor	NOUN
cblr-2899	499	8	vote	vote	NOUN
cblr-2899	499	9	will	will	AUX
cblr-2899	499	10	be	be	AUX
cblr-2899	499	11	defining	define	VERB
cblr-2899	499	12	which	which	PRON
cblr-2899	499	13	investors	investor	NOUN
cblr-2899	499	14	are	be	AUX
cblr-2899	499	15	eligible	eligible	ADJ
cblr-2899	499	16	to	to	PART
cblr-2899	499	17	vote	vote	VERB
cblr-2899	499	18	,	,	PUNCT
cblr-2899	499	19	since	since	SCONJ
cblr-2899	499	20	investors	investor	NOUN
cblr-2899	499	21	themselves	themselves	PRON
cblr-2899	499	22	can	can	AUX
cblr-2899	499	23	be	be	AUX
cblr-2899	499	24	conflicted	conflict	VERB
cblr-2899	499	25	.	.	PUNCT
cblr-2899	500	1	for	for	ADP
cblr-2899	500	2	example	example	NOUN
cblr-2899	500	3	,	,	PUNCT
cblr-2899	500	4	those	those	DET
cblr-2899	500	5	investors	investor	NOUN
cblr-2899	500	6	who	who	PRON
cblr-2899	500	7	already	already	ADV
cblr-2899	500	8	have	have	VERB
cblr-2899	500	9	a	a	DET
cblr-2899	500	10	link	link	NOUN
cblr-2899	500	11	to	to	ADP
cblr-2899	500	12	the	the	DET
cblr-2899	500	13	issuer	issuer	NOUN
cblr-2899	500	14	or	or	CCONJ
cblr-2899	500	15	issuing	issue	VERB
cblr-2899	500	16	company	company	NOUN
cblr-2899	500	17	,	,	PUNCT
cblr-2899	500	18	because	because	SCONJ
cblr-2899	500	19	they	they	PRON
cblr-2899	500	20	hold	hold	VERB
cblr-2899	500	21	previously	previously	ADV
cblr-2899	500	22	issued	issue	VERB
cblr-2899	500	23	debt	debt	NOUN
cblr-2899	500	24	,	,	PUNCT
cblr-2899	500	25	may	may	AUX
cblr-2899	500	26	have	have	VERB
cblr-2899	500	27	an	an	DET
cblr-2899	500	28	incentive	incentive	NOUN
cblr-2899	500	29	to	to	PART
cblr-2899	500	30	seek	seek	VERB
cblr-2899	500	31	inflated	inflated	ADJ
cblr-2899	500	32	ratings	rating	NOUN
cblr-2899	500	33	if	if	SCONJ
cblr-2899	500	34	they	they	PRON
cblr-2899	500	35	plan	plan	VERB
cblr-2899	500	36	to	to	PART
cblr-2899	500	37	exit	exit	VERB
cblr-2899	500	38	from	from	ADP
cblr-2899	500	39	the	the	DET
cblr-2899	500	40	investment	investment	NOUN
cblr-2899	500	41	in	in	ADP
cblr-2899	500	42	the	the	DET
cblr-2899	500	43	near	near	ADJ
cblr-2899	500	44	future	future	NOUN
cblr-2899	500	45	.	.	PUNCT
cblr-2899	501	1	156	156	NUM
cblr-2899	501	2	at	at	ADP
cblr-2899	501	3	the	the	DET
cblr-2899	501	4	time	time	NOUN
cblr-2899	501	5	of	of	ADP
cblr-2899	501	6	the	the	DET
cblr-2899	501	7	issuance	issuance	NOUN
cblr-2899	501	8	,	,	PUNCT
cblr-2899	501	9	other	other	ADJ
cblr-2899	501	10	interested	interested	ADJ
cblr-2899	501	11	investors	investor	NOUN
cblr-2899	501	12	may	may	AUX
cblr-2899	501	13	instead	instead	ADV
cblr-2899	501	14	have	have	VERB
cblr-2899	501	15	an	an	DET
cblr-2899	501	16	incentive	incentive	NOUN
cblr-2899	501	17	to	to	PART
cblr-2899	501	18	seek	seek	VERB
cblr-2899	501	19	a	a	DET
cblr-2899	501	20	deflated	deflate	VERB
cblr-2899	501	21	rating	rating	NOUN
cblr-2899	501	22	when	when	SCONJ
cblr-2899	501	23	purchasing	purchase	VERB
cblr-2899	501	24	debt	debt	NOUN
cblr-2899	501	25	in	in	ADP
cblr-2899	501	26	order	order	NOUN
cblr-2899	501	27	to	to	PART
cblr-2899	501	28	receive	receive	VERB
cblr-2899	501	29	higher	high	ADJ
cblr-2899	501	30	short	short	ADJ
cblr-2899	501	31	-	-	PUNCT
cblr-2899	501	32	term	term	NOUN
cblr-2899	501	33	returns	return	NOUN
cblr-2899	501	34	.	.	PUNCT
cblr-2899	502	1	once	once	SCONJ
cblr-2899	502	2	the	the	DET
cblr-2899	502	3	markets	market	NOUN
cblr-2899	502	4	realize	realize	VERB
cblr-2899	502	5	the	the	DET
cblr-2899	502	6	rating	rating	NOUN
cblr-2899	502	7	is	be	AUX
cblr-2899	502	8	deflated	deflate	VERB
cblr-2899	502	9	,	,	PUNCT
cblr-2899	502	10	those	those	DET
cblr-2899	502	11	high	high	ADJ
cblr-2899	502	12	yields	yield	NOUN
cblr-2899	502	13	will	will	AUX
cblr-2899	502	14	start	start	VERB
cblr-2899	502	15	to	to	PART
cblr-2899	502	16	fall	fall	VERB
cblr-2899	502	17	but	but	CCONJ
cblr-2899	502	18	at	at	ADP
cblr-2899	502	19	that	that	DET
cblr-2899	502	20	point	point	NOUN
cblr-2899	502	21	the	the	DET
cblr-2899	502	22	investor	investor	NOUN
cblr-2899	502	23	can	can	AUX
cblr-2899	502	24	then	then	ADV
cblr-2899	502	25	sell	sell	VERB
cblr-2899	502	26	the	the	DET
cblr-2899	502	27	security	security	NOUN
cblr-2899	502	28	at	at	ADP
cblr-2899	502	29	a	a	DET
cblr-2899	502	30	higher	high	ADJ
cblr-2899	502	31	price	price	NOUN
cblr-2899	502	32	(	(	PUNCT
cblr-2899	502	33	price	price	NOUN
cblr-2899	502	34	and	and	CCONJ
cblr-2899	502	35	yields	yield	NOUN
cblr-2899	502	36	are	be	AUX
cblr-2899	502	37	negatively	negatively	ADV
cblr-2899	502	38	correlated	correlate	VERB
cblr-2899	502	39	)	)	PUNCT
cblr-2899	502	40	and	and	CCONJ
cblr-2899	502	41	exit	exit	VERB
cblr-2899	502	42	the	the	DET
cblr-2899	502	43	market	market	NOUN
cblr-2899	502	44	.	.	PUNCT
cblr-2899	503	1	additionally	additionally	ADV
cblr-2899	503	2	,	,	PUNCT
cblr-2899	503	3	some	some	DET
cblr-2899	503	4	institutional	institutional	ADJ
cblr-2899	503	5	investors	investor	NOUN
cblr-2899	503	6	,	,	PUNCT
cblr-2899	503	7	such	such	ADJ
cblr-2899	503	8	as	as	ADP
cblr-2899	503	9	money	money	NOUN
cblr-2899	503	10	market	market	NOUN
cblr-2899	503	11	funds	fund	NOUN
cblr-2899	503	12	,	,	PUNCT
cblr-2899	503	13	face	face	VERB
cblr-2899	503	14	intense	intense	ADJ
cblr-2899	503	15	competition	competition	NOUN
cblr-2899	503	16	in	in	ADP
cblr-2899	503	17	the	the	DET
cblr-2899	503	18	market	market	NOUN
cblr-2899	503	19	while	while	SCONJ
cblr-2899	503	20	being	be	AUX
cblr-2899	503	21	legally	legally	ADV
cblr-2899	503	22	restricted	restrict	VERB
cblr-2899	503	23	to	to	ADP
cblr-2899	503	24	investments	investment	NOUN
cblr-2899	503	25	in	in	ADP
cblr-2899	503	26	safe	safe	ADJ
cblr-2899	503	27	investmentgrade	investmentgrade	NOUN
cblr-2899	503	28	securities	security	NOUN
cblr-2899	503	29	.	.	PUNCT
cblr-2899	504	1	they	they	PRON
cblr-2899	504	2	therefore	therefore	ADV
cblr-2899	504	3	have	have	VERB
cblr-2899	504	4	a	a	DET
cblr-2899	504	5	preference	preference	NOUN
cblr-2899	504	6	for	for	ADP
cblr-2899	504	7	inflated	inflated	ADJ
cblr-2899	504	8	ratings	rating	NOUN
cblr-2899	504	9	because	because	SCONJ
cblr-2899	504	10	"	"	PUNCT
cblr-2899	504	11	investment	investment	NOUN
cblr-2899	504	12	-	-	PUNCT
cblr-2899	504	13	grade	grade	NOUN
cblr-2899	504	14	"	"	PUNCT
cblr-2899	504	15	ratings	rating	NOUN
cblr-2899	504	16	offer	offer	VERB
cblr-2899	504	17	them	they	PRON
cblr-2899	504	18	legal	legal	ADJ
cblr-2899	504	19	protection	protection	NOUN
cblr-2899	504	20	while	while	SCONJ
cblr-2899	504	21	still	still	ADV
cblr-2899	504	22	allowing	allow	VERB
cblr-2899	504	23	them	they	PRON
cblr-2899	504	24	to	to	PART
cblr-2899	504	25	invest	invest	VERB
cblr-2899	504	26	in	in	ADP
cblr-2899	504	27	risky	risky	ADJ
cblr-2899	504	28	securities	security	NOUN
cblr-2899	504	29	with	with	ADP
cblr-2899	504	30	higher	high	ADJ
cblr-2899	504	31	yields.15	yields.15	NOUN
cblr-2899	504	32	7	7	NUM
cblr-2899	504	33	this	this	PRON
cblr-2899	504	34	happens	happen	VERB
cblr-2899	504	35	because	because	SCONJ
cblr-2899	504	36	154	154	NUM
cblr-2899	504	37	this	this	DET
cblr-2899	504	38	requirement	requirement	NOUN
cblr-2899	504	39	would	would	AUX
cblr-2899	504	40	not	not	PART
cblr-2899	504	41	apply	apply	VERB
cblr-2899	504	42	to	to	ADP
cblr-2899	504	43	the	the	DET
cblr-2899	504	44	three	three	NUM
cblr-2899	504	45	newest	new	ADJ
cblr-2899	504	46	nrsros	nrsro	NOUN
cblr-2899	504	47	(	(	PUNCT
cblr-2899	504	48	egan	egan	PROPN
cblr-2899	504	49	-	-	PUNCT
cblr-2899	504	50	jones	jones	PROPN
cblr-2899	504	51	rating	rating	NOUN
cblr-2899	504	52	company	company	NOUN
cblr-2899	504	53	,	,	PUNCT
cblr-2899	504	54	lace	lace	PROPN
cblr-2899	504	55	financial	financial	PROPN
cblr-2899	504	56	corp	corp	PROPN
cblr-2899	504	57	.	.	PROPN
cblr-2899	504	58	,	,	PUNCT
cblr-2899	504	59	realpoint	realpoint	PROPN
cblr-2899	504	60	llc	llc	PROPN
cblr-2899	504	61	)	)	PUNCT
cblr-2899	504	62	,	,	PUNCT
cblr-2899	504	63	which	which	PRON
cblr-2899	504	64	operate	operate	VERB
cblr-2899	504	65	under	under	ADP
cblr-2899	504	66	an	an	DET
cblr-2899	504	67	investors	investor	NOUN
cblr-2899	504	68	-	-	PUNCT
cblr-2899	504	69	pay	pay	NOUN
cblr-2899	504	70	model	model	NOUN
cblr-2899	504	71	.	.	PUNCT
cblr-2899	505	1	their	their	PRON
cblr-2899	505	2	model	model	NOUN
cblr-2899	505	3	operates	operate	VERB
cblr-2899	505	4	by	by	ADP
cblr-2899	505	5	having	have	VERB
cblr-2899	505	6	"	"	PUNCT
cblr-2899	505	7	investors	investor	NOUN
cblr-2899	505	8	and	and	CCONJ
cblr-2899	505	9	other	other	ADJ
cblr-2899	505	10	market	market	NOUN
cblr-2899	505	11	participants	participant	NOUN
cblr-2899	505	12	purchase	purchase	VERB
cblr-2899	505	13	the	the	DET
cblr-2899	505	14	right	right	NOUN
cblr-2899	505	15	to	to	PART
cblr-2899	505	16	access	access	VERB
cblr-2899	505	17	the	the	DET
cblr-2899	505	18	pool	pool	NOUN
cblr-2899	505	19	of	of	ADP
cblr-2899	505	20	credit	credit	NOUN
cblr-2899	505	21	ratings	rating	NOUN
cblr-2899	505	22	issued	issue	VERB
cblr-2899	505	23	by	by	ADP
cblr-2899	505	24	these	these	DET
cblr-2899	505	25	nrsros	nrsro	NOUN
cblr-2899	505	26	.	.	PUNCT
cblr-2899	505	27	"	"	PUNCT
cblr-2899	506	1	although	although	SCONJ
cblr-2899	506	2	they	they	PRON
cblr-2899	506	3	will	will	AUX
cblr-2899	506	4	not	not	PART
cblr-2899	506	5	be	be	AUX
cblr-2899	506	6	users	user	NOUN
cblr-2899	506	7	of	of	ADP
cblr-2899	506	8	all	all	DET
cblr-2899	506	9	credit	credit	NOUN
cblr-2899	506	10	ratings	rating	NOUN
cblr-2899	506	11	provided	provide	VERB
cblr-2899	506	12	.	.	PUNCT
cblr-2899	507	1	see	see	VERB
cblr-2899	507	2	sec	sec	PROPN
cblr-2899	507	3	annual	annual	ADJ
cblr-2899	507	4	report	report	NOUN
cblr-2899	507	5	,	,	PUNCT
cblr-2899	507	6	supra	supra	PROPN
cblr-2899	507	7	note	note	NOUN
cblr-2899	507	8	16	16	NUM
cblr-2899	507	9	,	,	PUNCT
cblr-2899	507	10	at	at	ADP
cblr-2899	507	11	15	15	NUM
cblr-2899	507	12	.	.	NOUN
cblr-2899	507	13	155	155	NUM
cblr-2899	507	14	see	see	VERB
cblr-2899	507	15	coffee	coffee	NOUN
cblr-2899	507	16	,	,	PUNCT
cblr-2899	507	17	supra	supra	PROPN
cblr-2899	507	18	note	note	NOUN
cblr-2899	507	19	33	33	NUM
cblr-2899	507	20	,	,	PUNCT
cblr-2899	507	21	at	at	ADP
cblr-2899	507	22	260	260	NUM
cblr-2899	507	23	.	.	PUNCT
cblr-2899	508	1	156	156	NUM
cblr-2899	508	2	inflated	inflated	ADJ
cblr-2899	508	3	ratings	rating	NOUN
cblr-2899	508	4	mean	mean	VERB
cblr-2899	508	5	they	they	PRON
cblr-2899	508	6	can	can	AUX
cblr-2899	508	7	sell	sell	VERB
cblr-2899	508	8	their	their	PRON
cblr-2899	508	9	debt	debt	NOUN
cblr-2899	508	10	for	for	ADP
cblr-2899	508	11	more	more	ADJ
cblr-2899	508	12	when	when	SCONJ
cblr-2899	508	13	they	they	PRON
cblr-2899	508	14	plan	plan	VERB
cblr-2899	508	15	on	on	ADP
cblr-2899	508	16	exiting	exit	VERB
cblr-2899	508	17	from	from	ADP
cblr-2899	508	18	their	their	PRON
cblr-2899	508	19	investment	investment	NOUN
cblr-2899	508	20	.	.	PUNCT
cblr-2899	509	1	157	157	NUM
cblr-2899	509	2	coffee	coffee	NOUN
cblr-2899	509	3	,	,	PUNCT
cblr-2899	509	4	supra	supra	PROPN
cblr-2899	509	5	note	note	NOUN
cblr-2899	509	6	33	33	NUM
cblr-2899	509	7	,	,	PUNCT
cblr-2899	509	8	at	at	ADP
cblr-2899	509	9	260	260	NUM
cblr-2899	509	10	.	.	PUNCT
cblr-2899	509	11	1030	1030	NUM
cblr-2899	509	12	col	col	PROPN
cblr-2899	509	13	umbia	umbia	PROPN
cblr-2899	509	14	b	b	PROPN
cblr-2899	510	1	usiness	usiness	PROPN
cblr-2899	510	2	la	la	PROPN
cblr-2899	510	3	w	w	PROPN
cblr-2899	510	4	re	re	PROPN
cblr-2899	510	5	vie	vie	PROPN
cblr-2899	510	6	w	w	PROPN
cblr-2899	511	1	[	[	X
cblr-2899	511	2	vol	vol	NOUN
cblr-2899	511	3	.	.	NOUN
cblr-2899	511	4	2012	2012	NUM
cblr-2899	511	5	bond	bond	NOUN
cblr-2899	511	6	markets	market	NOUN
cblr-2899	511	7	come	come	VERB
cblr-2899	511	8	to	to	PART
cblr-2899	511	9	realize	realize	VERB
cblr-2899	511	10	that	that	SCONJ
cblr-2899	511	11	an	an	DET
cblr-2899	511	12	nrsro	nrsro	NOUN
cblr-2899	511	13	is	be	AUX
cblr-2899	511	14	too	too	ADV
cblr-2899	511	15	optimistic	optimistic	ADJ
cblr-2899	511	16	(	(	PUNCT
cblr-2899	511	17	with	with	ADP
cblr-2899	511	18	its	its	PRON
cblr-2899	511	19	inflated	inflated	ADJ
cblr-2899	511	20	rating	rating	NOUN
cblr-2899	511	21	)	)	PUNCT
cblr-2899	511	22	and	and	CCONJ
cblr-2899	511	23	thus	thus	ADV
cblr-2899	511	24	prices	price	NOUN
cblr-2899	511	25	will	will	AUX
cblr-2899	511	26	fall	fall	VERB
cblr-2899	511	27	while	while	SCONJ
cblr-2899	511	28	yields	yield	NOUN
cblr-2899	511	29	will	will	AUX
cblr-2899	511	30	rise	rise	VERB
cblr-2899	511	31	.	.	PUNCT
cblr-2899	512	1	the	the	DET
cblr-2899	512	2	money	money	NOUN
cblr-2899	512	3	market	market	NOUN
cblr-2899	512	4	fund	fund	NOUN
cblr-2899	512	5	is	be	AUX
cblr-2899	512	6	then	then	ADV
cblr-2899	512	7	left	leave	VERB
cblr-2899	512	8	with	with	ADP
cblr-2899	512	9	an	an	DET
cblr-2899	512	10	investment	investment	NOUN
cblr-2899	512	11	in	in	ADP
cblr-2899	512	12	a	a	DET
cblr-2899	512	13	high	high	ADJ
cblr-2899	512	14	yielding	yielding	ADJ
cblr-2899	512	15	and	and	CCONJ
cblr-2899	512	16	riskier	risky	ADJ
cblr-2899	512	17	security	security	NOUN
cblr-2899	512	18	that	that	PRON
cblr-2899	512	19	still	still	ADV
cblr-2899	512	20	adheres	adhere	VERB
cblr-2899	512	21	to	to	ADP
cblr-2899	512	22	the	the	DET
cblr-2899	512	23	regulatory	regulatory	ADJ
cblr-2899	512	24	rating	rating	NOUN
cblr-2899	512	25	thresholds	threshold	NOUN
cblr-2899	512	26	because	because	SCONJ
cblr-2899	512	27	of	of	ADP
cblr-2899	512	28	the	the	DET
cblr-2899	512	29	inflated	inflated	ADJ
cblr-2899	512	30	ratings	rating	NOUN
cblr-2899	512	31	provided	provide	VERB
cblr-2899	512	32	by	by	ADP
cblr-2899	512	33	nrsros	nrsros	PROPN
cblr-2899	512	34	.	.	PUNCT
cblr-2899	513	1	by	by	ADP
cblr-2899	513	2	contrast	contrast	NOUN
cblr-2899	513	3	,	,	PUNCT
cblr-2899	513	4	other	other	ADJ
cblr-2899	513	5	institutional	institutional	ADJ
cblr-2899	513	6	investors	investor	NOUN
cblr-2899	513	7	,	,	PUNCT
cblr-2899	513	8	such	such	ADJ
cblr-2899	513	9	as	as	ADP
cblr-2899	513	10	pension	pension	NOUN
cblr-2899	513	11	funds	fund	NOUN
cblr-2899	513	12	,	,	PUNCT
cblr-2899	513	13	already	already	ADV
cblr-2899	513	14	have	have	VERB
cblr-2899	513	15	their	their	PRON
cblr-2899	513	16	clients	client	NOUN
cblr-2899	513	17	locked	lock	VERB
cblr-2899	513	18	in	in	ADP
cblr-2899	513	19	,	,	PUNCT
cblr-2899	513	20	and	and	CCONJ
cblr-2899	513	21	thus	thus	ADV
cblr-2899	513	22	do	do	AUX
cblr-2899	513	23	not	not	PART
cblr-2899	513	24	have	have	VERB
cblr-2899	513	25	the	the	DET
cblr-2899	513	26	same	same	ADJ
cblr-2899	513	27	desire	desire	NOUN
cblr-2899	513	28	for	for	ADP
cblr-2899	513	29	risky	risky	ADJ
cblr-2899	513	30	investments	investment	NOUN
cblr-2899	513	31	and	and	CCONJ
cblr-2899	513	32	inflated	inflated	ADJ
cblr-2899	513	33	ratings	rating	NOUN
cblr-2899	513	34	.	.	PUNCT
cblr-2899	514	1	since	since	SCONJ
cblr-2899	514	2	the	the	DET
cblr-2899	514	3	preferences	preference	NOUN
cblr-2899	514	4	of	of	ADP
cblr-2899	514	5	the	the	DET
cblr-2899	514	6	investing	investing	NOUN
cblr-2899	514	7	bodies	body	NOUN
cblr-2899	514	8	vary	vary	VERB
cblr-2899	514	9	,	,	PUNCT
cblr-2899	514	10	a	a	DET
cblr-2899	514	11	collective	collective	ADJ
cblr-2899	514	12	vote	vote	NOUN
cblr-2899	514	13	would	would	AUX
cblr-2899	514	14	minimize	minimize	VERB
cblr-2899	514	15	the	the	DET
cblr-2899	514	16	impact	impact	NOUN
cblr-2899	514	17	conflicted	conflict	VERB
cblr-2899	514	18	parties	party	NOUN
cblr-2899	514	19	have	have	VERB
cblr-2899	514	20	on	on	ADP
cblr-2899	514	21	the	the	DET
cblr-2899	514	22	final	final	ADJ
cblr-2899	514	23	decision	decision	NOUN
cblr-2899	514	24	of	of	ADP
cblr-2899	514	25	which	which	DET
cblr-2899	514	26	rating	rating	NOUN
cblr-2899	514	27	agency	agency	NOUN
cblr-2899	514	28	to	to	PART
cblr-2899	514	29	hire	hire	VERB
cblr-2899	514	30	.	.	PUNCT
cblr-2899	515	1	15	15	NUM
cblr-2899	515	2	even	even	ADV
cblr-2899	515	3	where	where	SCONJ
cblr-2899	515	4	the	the	DET
cblr-2899	515	5	potential	potential	ADJ
cblr-2899	515	6	conflicts	conflict	NOUN
cblr-2899	515	7	of	of	ADP
cblr-2899	515	8	interest	interest	NOUN
cblr-2899	515	9	discussed	discuss	VERB
cblr-2899	515	10	above	above	ADV
cblr-2899	515	11	do	do	AUX
cblr-2899	515	12	not	not	PART
cblr-2899	515	13	cancel	cancel	VERB
cblr-2899	515	14	out	out	ADP
cblr-2899	515	15	in	in	ADP
cblr-2899	515	16	a	a	DET
cblr-2899	515	17	vote	vote	NOUN
cblr-2899	515	18	,	,	PUNCT
cblr-2899	515	19	and	and	CCONJ
cblr-2899	515	20	investors	investor	NOUN
cblr-2899	515	21	end	end	VERB
cblr-2899	515	22	up	up	ADP
cblr-2899	515	23	choosing	choose	VERB
cblr-2899	515	24	a	a	DET
cblr-2899	515	25	cra	cra	PROPN
cblr-2899	515	26	with	with	ADP
cblr-2899	515	27	a	a	DET
cblr-2899	515	28	skewed	skewed	ADJ
cblr-2899	515	29	model	model	NOUN
cblr-2899	515	30	that	that	PRON
cblr-2899	515	31	unduly	unduly	ADV
cblr-2899	515	32	inflates	inflate	VERB
cblr-2899	515	33	(	(	PUNCT
cblr-2899	515	34	or	or	CCONJ
cblr-2899	515	35	understates	understate	NOUN
cblr-2899	515	36	)	)	PUNCT
cblr-2899	515	37	ratings	rating	NOUN
cblr-2899	515	38	,	,	PUNCT
cblr-2899	515	39	the	the	DET
cblr-2899	515	40	third	third	ADJ
cblr-2899	515	41	tenet	tenet	NOUN
cblr-2899	515	42	of	of	ADP
cblr-2899	515	43	this	this	DET
cblr-2899	515	44	proposal	proposal	NOUN
cblr-2899	515	45	will	will	AUX
cblr-2899	515	46	help	help	VERB
cblr-2899	515	47	minimize	minimize	VERB
cblr-2899	515	48	the	the	DET
cblr-2899	515	49	effect	effect	NOUN
cblr-2899	515	50	of	of	ADP
cblr-2899	515	51	this	this	DET
cblr-2899	515	52	problem	problem	NOUN
cblr-2899	515	53	by	by	ADP
cblr-2899	515	54	requiring	require	VERB
cblr-2899	515	55	issuers	issuer	NOUN
cblr-2899	515	56	to	to	PART
cblr-2899	515	57	purchase	purchase	VERB
cblr-2899	515	58	a	a	DET
cblr-2899	515	59	second	second	ADJ
cblr-2899	515	60	rating	rating	NOUN
cblr-2899	515	61	from	from	ADP
cblr-2899	515	62	a	a	DET
cblr-2899	515	63	cra	cra	PROPN
cblr-2899	515	64	that	that	PRON
cblr-2899	515	65	has	have	VERB
cblr-2899	515	66	better	well	ADJ
cblr-2899	515	67	performance	performance	NOUN
cblr-2899	515	68	statistics	statistic	NOUN
cblr-2899	515	69	,	,	PUNCT
cblr-2899	515	70	as	as	SCONJ
cblr-2899	515	71	discussed	discuss	VERB
cblr-2899	515	72	below	below	ADV
cblr-2899	515	73	.	.	PUNCT
cblr-2899	516	1	defining	define	VERB
cblr-2899	516	2	the	the	DET
cblr-2899	516	3	group	group	NOUN
cblr-2899	516	4	of	of	ADP
cblr-2899	516	5	eligible	eligible	ADJ
cblr-2899	516	6	voters	voter	NOUN
cblr-2899	516	7	will	will	AUX
cblr-2899	516	8	be	be	AUX
cblr-2899	516	9	key	key	ADJ
cblr-2899	516	10	in	in	ADP
cblr-2899	516	11	this	this	DET
cblr-2899	516	12	step	step	NOUN
cblr-2899	516	13	of	of	ADP
cblr-2899	516	14	the	the	DET
cblr-2899	516	15	new	new	ADJ
cblr-2899	516	16	proposal	proposal	NOUN
cblr-2899	516	17	.	.	PUNCT
cblr-2899	517	1	in	in	ADP
cblr-2899	517	2	a	a	DET
cblr-2899	517	3	public	public	ADJ
cblr-2899	517	4	offering	offering	NOUN
cblr-2899	517	5	,	,	PUNCT
cblr-2899	517	6	the	the	DET
cblr-2899	517	7	issuer	issuer	NOUN
cblr-2899	517	8	will	will	AUX
cblr-2899	517	9	typically	typically	ADV
cblr-2899	517	10	contract	contract	VERB
cblr-2899	517	11	with	with	ADP
cblr-2899	517	12	an	an	DET
cblr-2899	517	13	underwriter	underwriter	NOUN
cblr-2899	517	14	that	that	PRON
cblr-2899	517	15	aims	aim	VERB
cblr-2899	517	16	to	to	PART
cblr-2899	517	17	sell	sell	VERB
cblr-2899	517	18	the	the	DET
cblr-2899	517	19	issuer	issuer	NOUN
cblr-2899	517	20	's	's	PART
cblr-2899	517	21	securities	security	NOUN
cblr-2899	517	22	and	and	CCONJ
cblr-2899	517	23	solicits	solicit	VERB
cblr-2899	517	24	indications	indication	NOUN
cblr-2899	517	25	of	of	ADP
cblr-2899	517	26	interest	interest	NOUN
cblr-2899	517	27	from	from	ADP
cblr-2899	517	28	potential	potential	ADJ
cblr-2899	517	29	investors	investor	NOUN
cblr-2899	517	30	before	before	SCONJ
cblr-2899	517	31	the	the	DET
cblr-2899	517	32	debt	debt	NOUN
cblr-2899	517	33	is	be	AUX
cblr-2899	517	34	issued	issue	VERB
cblr-2899	517	35	.	.	PUNCT
cblr-2899	518	1	one	one	NUM
cblr-2899	518	2	possibility	possibility	NOUN
cblr-2899	518	3	for	for	ADP
cblr-2899	518	4	narrowing	narrow	VERB
cblr-2899	518	5	and	and	CCONJ
cblr-2899	518	6	defining	define	VERB
cblr-2899	518	7	the	the	DET
cblr-2899	518	8	universe	universe	NOUN
cblr-2899	518	9	of	of	ADP
cblr-2899	518	10	eligible	eligible	ADJ
cblr-2899	518	11	voters	voter	NOUN
cblr-2899	518	12	would	would	AUX
cblr-2899	518	13	be	be	AUX
cblr-2899	518	14	to	to	PART
cblr-2899	518	15	condition	condition	VERB
cblr-2899	518	16	underwriting	underwrite	VERB
cblr-2899	518	17	upon	upon	SCONJ
cblr-2899	518	18	an	an	DET
cblr-2899	518	19	obligation	obligation	NOUN
cblr-2899	518	20	to	to	PART
cblr-2899	518	21	assemble	assemble	VERB
cblr-2899	518	22	a	a	DET
cblr-2899	518	23	group	group	NOUN
cblr-2899	518	24	of	of	ADP
cblr-2899	518	25	potentially	potentially	ADV
cblr-2899	518	26	interested	interested	ADJ
cblr-2899	518	27	purchasers	purchaser	NOUN
cblr-2899	518	28	to	to	PART
cblr-2899	518	29	which	which	PRON
cblr-2899	518	30	the	the	DET
cblr-2899	518	31	offering	offering	NOUN
cblr-2899	518	32	will	will	AUX
cblr-2899	518	33	be	be	AUX
cblr-2899	518	34	limited	limit	VERB
cblr-2899	518	35	and	and	CCONJ
cblr-2899	518	36	require	require	VERB
cblr-2899	518	37	the	the	DET
cblr-2899	518	38	most	most	ADV
cblr-2899	518	39	important	important	ADJ
cblr-2899	518	40	investors	investor	NOUN
cblr-2899	518	41	to	to	PART
cblr-2899	518	42	participate	participate	VERB
cblr-2899	518	43	in	in	ADP
cblr-2899	518	44	the	the	DET
cblr-2899	518	45	voting	voting	NOUN
cblr-2899	518	46	process	process	NOUN
cblr-2899	518	47	.	.	PUNCT
cblr-2899	519	1	the	the	DET
cblr-2899	519	2	goal	goal	NOUN
cblr-2899	519	3	is	be	AUX
cblr-2899	519	4	to	to	PART
cblr-2899	519	5	have	have	VERB
cblr-2899	519	6	voters	voter	NOUN
cblr-2899	519	7	who	who	PRON
cblr-2899	519	8	are	be	AUX
cblr-2899	519	9	truly	truly	ADV
cblr-2899	519	10	interested	interested	ADJ
cblr-2899	519	11	in	in	ADP
cblr-2899	519	12	purchasing	purchase	VERB
cblr-2899	519	13	the	the	DET
cblr-2899	519	14	debt	debt	NOUN
cblr-2899	519	15	,	,	PUNCT
cblr-2899	519	16	and	and	CCONJ
cblr-2899	519	17	also	also	ADV
cblr-2899	519	18	voters	voter	NOUN
cblr-2899	519	19	without	without	ADP
cblr-2899	519	20	preferences	preference	NOUN
cblr-2899	519	21	for	for	ADP
cblr-2899	519	22	inflated	inflated	ADJ
cblr-2899	519	23	or	or	CCONJ
cblr-2899	519	24	understated	understated	ADJ
cblr-2899	519	25	ratings	rating	NOUN
cblr-2899	519	26	-	-	PUNCT
cblr-2899	519	27	ideally	ideally	ADV
cblr-2899	519	28	,	,	PUNCT
cblr-2899	519	29	although	although	SCONJ
cblr-2899	519	30	unrealistically	unrealistically	ADV
cblr-2899	519	31	,	,	PUNCT
cblr-2899	519	32	a	a	DET
cblr-2899	519	33	voting	voting	NOUN
cblr-2899	519	34	body	body	NOUN
cblr-2899	519	35	made	make	VERB
cblr-2899	519	36	up	up	ADP
cblr-2899	519	37	of	of	ADP
cblr-2899	519	38	large	large	ADJ
cblr-2899	519	39	pension	pension	NOUN
cblr-2899	519	40	funds	fund	NOUN
cblr-2899	519	41	.	.	PUNCT
cblr-2899	520	1	of	of	ADP
cblr-2899	520	2	these	these	DET
cblr-2899	520	3	potential	potential	ADJ
cblr-2899	520	4	investors	investor	NOUN
cblr-2899	520	5	,	,	PUNCT
cblr-2899	520	6	only	only	ADV
cblr-2899	520	7	those	those	PRON
cblr-2899	520	8	making	make	VERB
cblr-2899	520	9	a	a	DET
cblr-2899	520	10	representation	representation	NOUN
cblr-2899	520	11	that	that	SCONJ
cblr-2899	520	12	they	they	PRON
cblr-2899	520	13	are	be	AUX
cblr-2899	520	14	bona	bona	ADJ
cblr-2899	520	15	-	-	PUNCT
cblr-2899	520	16	fide	fide	ADJ
cblr-2899	520	17	interested	interested	ADJ
cblr-2899	520	18	investors	investor	NOUN
cblr-2899	520	19	and	and	CCONJ
cblr-2899	520	20	potential	potential	ADJ
cblr-2899	520	21	purchasers	purchaser	NOUN
cblr-2899	520	22	will	will	AUX
cblr-2899	520	23	be	be	AUX
cblr-2899	520	24	given	give	VERB
cblr-2899	520	25	a	a	DET
cblr-2899	520	26	chance	chance	NOUN
cblr-2899	520	27	to	to	PART
cblr-2899	520	28	vote	vote	VERB
cblr-2899	520	29	on	on	ADP
cblr-2899	520	30	which	which	PRON
cblr-2899	520	31	rating	rating	NOUN
cblr-2899	520	32	agency	agency	NOUN
cblr-2899	520	33	to	to	PART
cblr-2899	520	34	select	select	VERB
cblr-2899	520	35	.	.	PUNCT
cblr-2899	521	1	such	such	DET
cblr-2899	521	2	a	a	DET
cblr-2899	521	3	representation	representation	NOUN
cblr-2899	521	4	will	will	AUX
cblr-2899	521	5	158	158	NUM
cblr-2899	521	6	coffee	coffee	NOUN
cblr-2899	521	7	,	,	PUNCT
cblr-2899	521	8	supra	supra	PROPN
cblr-2899	521	9	note	note	NOUN
cblr-2899	521	10	33	33	NUM
cblr-2899	521	11	,	,	PUNCT
cblr-2899	521	12	at	at	ADP
cblr-2899	521	13	260	260	NUM
cblr-2899	521	14	.	.	PUNCT
cblr-2899	522	1	1031no	1031no	NOUN
cblr-2899	522	2	.	.	PUNCT
cblr-2899	523	1	3:994	3:994	NUM
cblr-2899	523	2	]	]	X
cblr-2899	523	3	regulating	regulate	VERB
cblr-2899	523	4	creditrpating	creditrpate	VERB
cblr-2899	523	5	agencies	agency	NOUN
cblr-2899	523	6	mitigate	mitigate	VERB
cblr-2899	523	7	the	the	DET
cblr-2899	523	8	concern	concern	NOUN
cblr-2899	523	9	that	that	SCONJ
cblr-2899	523	10	investors	investor	NOUN
cblr-2899	523	11	or	or	CCONJ
cblr-2899	523	12	issuers	issuer	NOUN
cblr-2899	523	13	may	may	AUX
cblr-2899	523	14	recruit	recruit	VERB
cblr-2899	523	15	allies	ally	NOUN
cblr-2899	523	16	who	who	PRON
cblr-2899	523	17	will	will	AUX
cblr-2899	523	18	vote	vote	VERB
cblr-2899	523	19	but	but	CCONJ
cblr-2899	523	20	do	do	AUX
cblr-2899	523	21	not	not	PART
cblr-2899	523	22	actually	actually	ADV
cblr-2899	523	23	intend	intend	VERB
cblr-2899	523	24	to	to	PART
cblr-2899	523	25	purchase	purchase	VERB
cblr-2899	523	26	the	the	DET
cblr-2899	523	27	security	security	NOUN
cblr-2899	523	28	.	.	PUNCT
cblr-2899	524	1	it	it	PRON
cblr-2899	524	2	may	may	AUX
cblr-2899	524	3	also	also	ADV
cblr-2899	524	4	make	make	VERB
cblr-2899	524	5	sense	sense	NOUN
cblr-2899	524	6	to	to	PART
cblr-2899	524	7	require	require	VERB
cblr-2899	524	8	disclosure	disclosure	NOUN
cblr-2899	524	9	of	of	ADP
cblr-2899	524	10	the	the	DET
cblr-2899	524	11	selected	select	VERB
cblr-2899	524	12	voting	voting	NOUN
cblr-2899	524	13	investors	investor	NOUN
cblr-2899	524	14	so	so	SCONJ
cblr-2899	524	15	that	that	SCONJ
cblr-2899	524	16	the	the	DET
cblr-2899	524	17	sec	sec	PROPN
cblr-2899	524	18	or	or	CCONJ
cblr-2899	524	19	a	a	DET
cblr-2899	524	20	selfregulatory	selfregulatory	ADJ
cblr-2899	524	21	organization	organization	NOUN
cblr-2899	524	22	can	can	AUX
cblr-2899	524	23	monitor	monitor	VERB
cblr-2899	524	24	voters	voter	NOUN
cblr-2899	524	25	that	that	PRON
cblr-2899	524	26	have	have	VERB
cblr-2899	524	27	a	a	DET
cblr-2899	524	28	tendency	tendency	NOUN
cblr-2899	524	29	to	to	PART
cblr-2899	524	30	vote	vote	VERB
cblr-2899	524	31	but	but	CCONJ
cblr-2899	524	32	not	not	PART
cblr-2899	524	33	actually	actually	ADV
cblr-2899	524	34	purchase	purchase	VERB
cblr-2899	524	35	debt	debt	NOUN
cblr-2899	524	36	.	.	PUNCT
cblr-2899	525	1	the	the	DET
cblr-2899	525	2	type	type	NOUN
cblr-2899	525	3	of	of	ADP
cblr-2899	525	4	voting	voting	NOUN
cblr-2899	525	5	structure	structure	NOUN
cblr-2899	525	6	is	be	AUX
cblr-2899	525	7	also	also	ADV
cblr-2899	525	8	an	an	DET
cblr-2899	525	9	important	important	ADJ
cblr-2899	525	10	factor	factor	NOUN
cblr-2899	525	11	.	.	PUNCT
cblr-2899	526	1	in	in	ADP
cblr-2899	526	2	order	order	NOUN
cblr-2899	526	3	to	to	PART
cblr-2899	526	4	simplify	simplify	VERB
cblr-2899	526	5	the	the	DET
cblr-2899	526	6	process	process	NOUN
cblr-2899	526	7	,	,	PUNCT
cblr-2899	526	8	the	the	DET
cblr-2899	526	9	candidates	candidate	NOUN
cblr-2899	526	10	for	for	ADP
cblr-2899	526	11	selection	selection	NOUN
cblr-2899	526	12	should	should	AUX
cblr-2899	526	13	be	be	AUX
cblr-2899	526	14	limited	limit	VERB
cblr-2899	526	15	to	to	ADP
cblr-2899	526	16	nrsros	nrsro	NOUN
cblr-2899	526	17	--	--	PUNCT
cblr-2899	526	18	currently	currently	ADV
cblr-2899	526	19	leaving	leave	VERB
cblr-2899	526	20	nine	nine	NUM
cblr-2899	526	21	options	option	NOUN
cblr-2899	526	22	.	.	PUNCT
cblr-2899	527	1	however	however	ADV
cblr-2899	527	2	,	,	PUNCT
cblr-2899	527	3	since	since	SCONJ
cblr-2899	527	4	some	some	PRON
cblr-2899	527	5	of	of	ADP
cblr-2899	527	6	these	these	DET
cblr-2899	527	7	rating	rating	NOUN
cblr-2899	527	8	agencies	agency	NOUN
cblr-2899	527	9	only	only	ADV
cblr-2899	527	10	rate	rate	VERB
cblr-2899	527	11	specific	specific	ADJ
cblr-2899	527	12	types	type	NOUN
cblr-2899	527	13	of	of	ADP
cblr-2899	527	14	debt	debt	NOUN
cblr-2899	527	15	,	,	PUNCT
cblr-2899	527	16	there	there	PRON
cblr-2899	527	17	may	may	AUX
cblr-2899	527	18	be	be	AUX
cblr-2899	527	19	even	even	ADV
cblr-2899	527	20	fewer	few	ADJ
cblr-2899	527	21	options	option	NOUN
cblr-2899	527	22	for	for	ADP
cblr-2899	527	23	any	any	DET
cblr-2899	527	24	specific	specific	ADJ
cblr-2899	527	25	vote	vote	NOUN
cblr-2899	527	26	,	,	PUNCT
cblr-2899	527	27	depending	depend	VERB
cblr-2899	527	28	on	on	ADP
cblr-2899	527	29	the	the	DET
cblr-2899	527	30	type	type	NOUN
cblr-2899	527	31	of	of	ADP
cblr-2899	527	32	debt	debt	NOUN
cblr-2899	527	33	being	be	AUX
cblr-2899	527	34	issued	issue	VERB
cblr-2899	527	35	.	.	PUNCT
cblr-2899	528	1	issuers	issuer	NOUN
cblr-2899	528	2	or	or	CCONJ
cblr-2899	528	3	underwriters	underwriter	NOUN
cblr-2899	528	4	could	could	AUX
cblr-2899	528	5	be	be	AUX
cblr-2899	528	6	asked	ask	VERB
cblr-2899	528	7	to	to	PART
cblr-2899	528	8	select	select	VERB
cblr-2899	528	9	the	the	DET
cblr-2899	528	10	cras	cras	X
cblr-2899	528	11	that	that	PRON
cblr-2899	528	12	are	be	AUX
cblr-2899	528	13	able	able	ADJ
cblr-2899	528	14	to	to	PART
cblr-2899	528	15	rate	rate	VERB
cblr-2899	528	16	the	the	DET
cblr-2899	528	17	type	type	NOUN
cblr-2899	528	18	of	of	ADP
cblr-2899	528	19	debt	debt	NOUN
cblr-2899	528	20	they	they	PRON
cblr-2899	528	21	want	want	VERB
cblr-2899	528	22	to	to	PART
cblr-2899	528	23	sell	sell	VERB
cblr-2899	528	24	and	and	CCONJ
cblr-2899	528	25	the	the	DET
cblr-2899	528	26	investors	investor	NOUN
cblr-2899	528	27	will	will	AUX
cblr-2899	528	28	then	then	ADV
cblr-2899	528	29	choose	choose	VERB
cblr-2899	528	30	from	from	ADP
cblr-2899	528	31	this	this	DET
cblr-2899	528	32	selection	selection	NOUN
cblr-2899	528	33	.	.	PUNCT
cblr-2899	529	1	obviously	obviously	ADV
cblr-2899	529	2	there	there	PRON
cblr-2899	529	3	are	be	VERB
cblr-2899	529	4	various	various	ADJ
cblr-2899	529	5	ways	way	NOUN
cblr-2899	529	6	in	in	ADP
cblr-2899	529	7	which	which	PRON
cblr-2899	529	8	the	the	DET
cblr-2899	529	9	vote	vote	NOUN
cblr-2899	529	10	could	could	AUX
cblr-2899	529	11	be	be	AUX
cblr-2899	529	12	organized	organize	VERB
cblr-2899	529	13	.	.	PUNCT
cblr-2899	530	1	however	however	ADV
cblr-2899	530	2	,	,	PUNCT
cblr-2899	530	3	one	one	NUM
cblr-2899	530	4	good	good	ADJ
cblr-2899	530	5	option	option	NOUN
cblr-2899	530	6	would	would	AUX
cblr-2899	530	7	be	be	AUX
cblr-2899	530	8	a	a	DET
cblr-2899	530	9	variation	variation	NOUN
cblr-2899	530	10	of	of	ADP
cblr-2899	530	11	plurality	plurality	NOUN
cblr-2899	530	12	voting	voting	NOUN
cblr-2899	530	13	.	.	PUNCT
cblr-2899	531	1	investors	investor	NOUN
cblr-2899	531	2	could	could	AUX
cblr-2899	531	3	be	be	AUX
cblr-2899	531	4	asked	ask	VERB
cblr-2899	531	5	to	to	PART
cblr-2899	531	6	rank	rank	VERB
cblr-2899	531	7	the	the	DET
cblr-2899	531	8	rating	rating	NOUN
cblr-2899	531	9	agencies	agency	NOUN
cblr-2899	531	10	by	by	ADP
cblr-2899	531	11	preference	preference	NOUN
cblr-2899	531	12	.	.	PUNCT
cblr-2899	532	1	points	point	NOUN
cblr-2899	532	2	could	could	AUX
cblr-2899	532	3	then	then	ADV
cblr-2899	532	4	be	be	AUX
cblr-2899	532	5	allocated	allocate	VERB
cblr-2899	532	6	to	to	ADP
cblr-2899	532	7	each	each	DET
cblr-2899	532	8	one	one	NUM
cblr-2899	532	9	of	of	ADP
cblr-2899	532	10	their	their	PRON
cblr-2899	532	11	choices	choice	NOUN
cblr-2899	532	12	,	,	PUNCT
cblr-2899	532	13	with	with	ADP
cblr-2899	532	14	their	their	PRON
cblr-2899	532	15	first	first	ADJ
cblr-2899	532	16	choice	choice	NOUN
cblr-2899	532	17	receiving	receive	VERB
cblr-2899	532	18	the	the	DET
cblr-2899	532	19	greatest	great	ADJ
cblr-2899	532	20	number	number	NOUN
cblr-2899	532	21	of	of	ADP
cblr-2899	532	22	points	point	NOUN
cblr-2899	532	23	.	.	PUNCT
cblr-2899	533	1	the	the	DET
cblr-2899	533	2	rating	rating	NOUN
cblr-2899	533	3	agency	agency	NOUN
cblr-2899	533	4	that	that	PRON
cblr-2899	533	5	receives	receive	VERB
cblr-2899	533	6	the	the	DET
cblr-2899	533	7	highest	high	ADJ
cblr-2899	533	8	number	number	NOUN
cblr-2899	533	9	of	of	ADP
cblr-2899	533	10	cumulative	cumulative	ADJ
cblr-2899	533	11	points	point	NOUN
cblr-2899	533	12	from	from	ADP
cblr-2899	533	13	all	all	DET
cblr-2899	533	14	participating	participate	VERB
cblr-2899	533	15	investors	investor	NOUN
cblr-2899	533	16	will	will	AUX
cblr-2899	533	17	win	win	VERB
cblr-2899	533	18	the	the	DET
cblr-2899	533	19	rating	rating	NOUN
cblr-2899	533	20	contract	contract	NOUN
cblr-2899	533	21	.	.	PUNCT
cblr-2899	534	1	many	many	ADJ
cblr-2899	534	2	potential	potential	ADJ
cblr-2899	534	3	investors	investor	NOUN
cblr-2899	534	4	may	may	AUX
cblr-2899	534	5	prefer	prefer	VERB
cblr-2899	534	6	not	not	PART
cblr-2899	534	7	to	to	PART
cblr-2899	534	8	vote	vote	VERB
cblr-2899	534	9	either	either	ADV
cblr-2899	534	10	because	because	SCONJ
cblr-2899	534	11	they	they	PRON
cblr-2899	534	12	do	do	AUX
cblr-2899	534	13	not	not	PART
cblr-2899	534	14	care	care	VERB
cblr-2899	534	15	or	or	CCONJ
cblr-2899	534	16	because	because	SCONJ
cblr-2899	534	17	they	they	PRON
cblr-2899	534	18	are	be	AUX
cblr-2899	534	19	afraid	afraid	ADJ
cblr-2899	534	20	to	to	PART
cblr-2899	534	21	make	make	VERB
cblr-2899	534	22	enemies	enemy	NOUN
cblr-2899	534	23	.	.	PUNCT
cblr-2899	535	1	to	to	PART
cblr-2899	535	2	remedy	remedy	VERB
cblr-2899	535	3	the	the	DET
cblr-2899	535	4	latter	latter	ADJ
cblr-2899	535	5	issue	issue	NOUN
cblr-2899	535	6	,	,	PUNCT
cblr-2899	535	7	the	the	DET
cblr-2899	535	8	vote	vote	NOUN
cblr-2899	535	9	could	could	AUX
cblr-2899	535	10	be	be	AUX
cblr-2899	535	11	anonymous	anonymous	ADJ
cblr-2899	535	12	to	to	ADP
cblr-2899	535	13	all	all	PRON
cblr-2899	535	14	but	but	SCONJ
cblr-2899	535	15	the	the	DET
cblr-2899	535	16	sec	sec	PROPN
cblr-2899	535	17	or	or	CCONJ
cblr-2899	535	18	the	the	DET
cblr-2899	535	19	self	self	NOUN
cblr-2899	535	20	-	-	PUNCT
cblr-2899	535	21	regulatory	regulatory	ADJ
cblr-2899	535	22	organization	organization	NOUN
cblr-2899	535	23	in	in	ADP
cblr-2899	535	24	charge	charge	NOUN
cblr-2899	535	25	of	of	ADP
cblr-2899	535	26	overseeing	oversee	VERB
cblr-2899	535	27	the	the	DET
cblr-2899	535	28	procedure	procedure	NOUN
cblr-2899	535	29	.	.	PUNCT
cblr-2899	536	1	there	there	PRON
cblr-2899	536	2	is	be	VERB
cblr-2899	536	3	also	also	ADV
cblr-2899	536	4	an	an	DET
cblr-2899	536	5	issue	issue	NOUN
cblr-2899	536	6	of	of	ADP
cblr-2899	536	7	the	the	DET
cblr-2899	536	8	timing	timing	NOUN
cblr-2899	536	9	of	of	ADP
cblr-2899	536	10	the	the	DET
cblr-2899	536	11	votes	vote	NOUN
cblr-2899	536	12	.	.	PUNCT
cblr-2899	537	1	this	this	PRON
cblr-2899	537	2	becomes	become	VERB
cblr-2899	537	3	relevant	relevant	ADJ
cblr-2899	537	4	in	in	ADP
cblr-2899	537	5	the	the	DET
cblr-2899	537	6	case	case	NOUN
cblr-2899	537	7	of	of	ADP
cblr-2899	537	8	a	a	DET
cblr-2899	537	9	company	company	NOUN
cblr-2899	537	10	that	that	PRON
cblr-2899	537	11	makes	make	VERB
cblr-2899	537	12	use	use	NOUN
cblr-2899	537	13	of	of	ADP
cblr-2899	537	14	shelf	shelf	NOUN
cblr-2899	537	15	registration	registration	NOUN
cblr-2899	537	16	and	and	CCONJ
cblr-2899	537	17	wants	want	VERB
cblr-2899	537	18	to	to	PART
cblr-2899	537	19	issue	issue	VERB
cblr-2899	537	20	a	a	DET
cblr-2899	537	21	second	second	ADJ
cblr-2899	537	22	tranche	tranche	NOUN
cblr-2899	537	23	of	of	ADP
cblr-2899	537	24	debt	debt	NOUN
cblr-2899	537	25	on	on	ADP
cblr-2899	537	26	notes	note	NOUN
cblr-2899	537	27	previously	previously	ADV
cblr-2899	537	28	issued	issue	VERB
cblr-2899	537	29	.	.	PUNCT
cblr-2899	538	1	should	should	AUX
cblr-2899	538	2	a	a	DET
cblr-2899	538	3	vote	vote	NOUN
cblr-2899	538	4	take	take	VERB
cblr-2899	538	5	place	place	NOUN
cblr-2899	538	6	and	and	CCONJ
cblr-2899	538	7	a	a	DET
cblr-2899	538	8	credit	credit	NOUN
cblr-2899	538	9	rating	rating	NOUN
cblr-2899	538	10	be	be	AUX
cblr-2899	538	11	given	give	VERB
cblr-2899	538	12	only	only	ADV
cblr-2899	538	13	at	at	ADP
cblr-2899	538	14	the	the	DET
cblr-2899	538	15	time	time	NOUN
cblr-2899	538	16	of	of	ADP
cblr-2899	538	17	initial	initial	ADJ
cblr-2899	538	18	registration	registration	NOUN
cblr-2899	538	19	,	,	PUNCT
cblr-2899	538	20	or	or	CCONJ
cblr-2899	538	21	should	should	AUX
cblr-2899	538	22	a	a	DET
cblr-2899	538	23	new	new	ADJ
cblr-2899	538	24	vote	vote	NOUN
cblr-2899	538	25	be	be	AUX
cblr-2899	538	26	held	hold	VERB
cblr-2899	538	27	and	and	CCONJ
cblr-2899	538	28	a	a	DET
cblr-2899	538	29	new	new	ADJ
cblr-2899	538	30	credit	credit	NOUN
cblr-2899	538	31	rating	rating	NOUN
cblr-2899	538	32	given	give	VERB
cblr-2899	538	33	each	each	DET
cblr-2899	538	34	time	time	NOUN
cblr-2899	538	35	new	new	ADJ
cblr-2899	538	36	debt	debt	NOUN
cblr-2899	538	37	is	be	AUX
cblr-2899	538	38	issued	issue	VERB
cblr-2899	538	39	?	?	PUNCT
cblr-2899	539	1	since	since	SCONJ
cblr-2899	539	2	a	a	DET
cblr-2899	539	3	company	company	NOUN
cblr-2899	539	4	can	can	AUX
cblr-2899	539	5	choose	choose	VERB
cblr-2899	539	6	to	to	PART
cblr-2899	539	7	issue	issue	VERB
cblr-2899	539	8	new	new	ADJ
cblr-2899	539	9	tranches	tranche	NOUN
cblr-2899	539	10	of	of	ADP
cblr-2899	539	11	the	the	DET
cblr-2899	539	12	same	same	ADJ
cblr-2899	539	13	debt	debt	NOUN
cblr-2899	539	14	for	for	ADP
cblr-2899	539	15	up	up	ADP
cblr-2899	539	16	to	to	PART
cblr-2899	539	17	two	two	NUM
cblr-2899	539	18	years,159	years,159	PROPN
cblr-2899	539	19	it	it	PRON
cblr-2899	539	20	159	159	NUM
cblr-2899	539	21	see	see	VERB
cblr-2899	539	22	rule	rule	NOUN
cblr-2899	539	23	415	415	NUM
cblr-2899	539	24	of	of	ADP
cblr-2899	539	25	regulation	regulation	NOUN
cblr-2899	539	26	c	c	PROPN
cblr-2899	539	27	of	of	ADP
cblr-2899	539	28	the	the	DET
cblr-2899	539	29	securities	security	NOUN
cblr-2899	539	30	act	act	NOUN
cblr-2899	539	31	of	of	ADP
cblr-2899	539	32	1933	1933	NUM
cblr-2899	539	33	.	.	PUNCT
cblr-2899	540	1	17	17	NUM
cblr-2899	540	2	c.f.r	c.f.r	NOUN
cblr-2899	540	3	.	.	PUNCT
cblr-2899	541	1	§	§	PROPN
cblr-2899	541	2	230.415	230.415	NUM
cblr-2899	541	3	(	(	PUNCT
cblr-2899	541	4	2012	2012	NUM
cblr-2899	541	5	)	)	PUNCT
cblr-2899	541	6	.	.	PUNCT
cblr-2899	542	1	col	col	PROPN
cblr-2899	542	2	umbia	umbia	PROPN
cblr-2899	542	3	b	b	PROPN
cblr-2899	542	4	usiness	usiness	PROPN
cblr-2899	542	5	la	la	PROPN
cblr-2899	542	6	w	w	PROPN
cblr-2899	542	7	re	re	PROPN
cblr-2899	542	8	vie	vie	PROPN
cblr-2899	542	9	w	w	PROPN
cblr-2899	543	1	[	[	X
cblr-2899	543	2	vol	vol	NOUN
cblr-2899	543	3	.	.	PUNCT
cblr-2899	543	4	20121032	20121032	NUM
cblr-2899	543	5	regulating	regulate	VERB
cblr-2899	543	6	credit	credit	NOUN
cblr-2899	543	7	rating	rating	NOUN
cblr-2899	543	8	agencies	agency	NOUN
cblr-2899	543	9	is	be	AUX
cblr-2899	543	10	preferable	preferable	ADJ
cblr-2899	543	11	to	to	PART
cblr-2899	543	12	receive	receive	VERB
cblr-2899	543	13	up	up	ADP
cblr-2899	543	14	-	-	PUNCT
cblr-2899	543	15	to	to	ADP
cblr-2899	543	16	-	-	PUNCT
cblr-2899	543	17	date	date	NOUN
cblr-2899	543	18	ratings	rating	NOUN
cblr-2899	543	19	at	at	ADP
cblr-2899	543	20	the	the	DET
cblr-2899	543	21	time	time	NOUN
cblr-2899	543	22	the	the	DET
cblr-2899	543	23	new	new	ADJ
cblr-2899	543	24	debt	debt	NOUN
cblr-2899	543	25	is	be	AUX
cblr-2899	543	26	issued	issue	VERB
cblr-2899	543	27	.	.	PUNCT
cblr-2899	544	1	however	however	ADV
cblr-2899	544	2	,	,	PUNCT
cblr-2899	544	3	to	to	PART
cblr-2899	544	4	mitigate	mitigate	VERB
cblr-2899	544	5	any	any	DET
cblr-2899	544	6	delay	delay	NOUN
cblr-2899	544	7	in	in	ADP
cblr-2899	544	8	accessing	access	VERB
cblr-2899	544	9	capital	capital	NOUN
cblr-2899	544	10	markets	market	NOUN
cblr-2899	544	11	,	,	PUNCT
cblr-2899	544	12	the	the	DET
cblr-2899	544	13	same	same	ADJ
cblr-2899	544	14	rating	rating	NOUN
cblr-2899	544	15	agency	agency	NOUN
cblr-2899	544	16	selected	select	VERB
cblr-2899	544	17	at	at	ADP
cblr-2899	544	18	the	the	DET
cblr-2899	544	19	initial	initial	ADJ
cblr-2899	544	20	issuance	issuance	NOUN
cblr-2899	544	21	should	should	AUX
cblr-2899	544	22	presumptively	presumptively	ADV
cblr-2899	544	23	be	be	AUX
cblr-2899	544	24	awarded	award	VERB
cblr-2899	544	25	the	the	DET
cblr-2899	544	26	second	second	ADJ
cblr-2899	544	27	rating	rating	NOUN
cblr-2899	544	28	contract	contract	NOUN
cblr-2899	544	29	as	as	ADV
cblr-2899	544	30	well	well	ADV
cblr-2899	544	31	,	,	PUNCT
cblr-2899	544	32	unless	unless	SCONJ
cblr-2899	544	33	it	it	PRON
cblr-2899	544	34	has	have	AUX
cblr-2899	544	35	fallen	fall	VERB
cblr-2899	544	36	below	below	ADP
cblr-2899	544	37	the	the	DET
cblr-2899	544	38	top	top	ADJ
cblr-2899	544	39	three	three	NUM
cblr-2899	544	40	-	-	PUNCT
cblr-2899	544	41	performing	perform	VERB
cblr-2899	544	42	rating	rating	NOUN
cblr-2899	544	43	agencies	agency	NOUN
cblr-2899	544	44	on	on	ADP
cblr-2899	544	45	the	the	DET
cblr-2899	544	46	rankings	ranking	NOUN
cblr-2899	544	47	supplied	supply	VERB
cblr-2899	544	48	by	by	ADP
cblr-2899	544	49	the	the	DET
cblr-2899	544	50	government	government	NOUN
cblr-2899	544	51	agency	agency	NOUN
cblr-2899	544	52	,	,	PUNCT
cblr-2899	544	53	or	or	CCONJ
cblr-2899	544	54	self	self	NOUN
cblr-2899	544	55	-	-	PUNCT
cblr-2899	544	56	regulatory	regulatory	ADJ
cblr-2899	544	57	organization	organization	NOUN
cblr-2899	544	58	in	in	ADP
cblr-2899	544	59	part	part	NOUN
cblr-2899	544	60	(	(	PUNCT
cblr-2899	544	61	2	2	NUM
cblr-2899	544	62	)	)	PUNCT
cblr-2899	544	63	of	of	ADP
cblr-2899	544	64	the	the	DET
cblr-2899	544	65	proposal	proposal	NOUN
cblr-2899	544	66	,	,	PUNCT
cblr-2899	544	67	in	in	ADP
cblr-2899	544	68	which	which	DET
cblr-2899	544	69	case	case	NOUN
cblr-2899	544	70	a	a	DET
cblr-2899	544	71	better	well	ADV
cblr-2899	544	72	-	-	PUNCT
cblr-2899	544	73	performing	perform	VERB
cblr-2899	544	74	cra	cra	PROPN
cblr-2899	544	75	will	will	AUX
cblr-2899	544	76	need	need	VERB
cblr-2899	544	77	to	to	PART
cblr-2899	544	78	be	be	AUX
cblr-2899	544	79	selected	select	VERB
cblr-2899	544	80	.	.	PUNCT
cblr-2899	545	1	b.	b.	PROPN
cblr-2899	546	1	a	a	DET
cblr-2899	546	2	rater	rater	NOUN
cblr-2899	546	3	of	of	ADP
cblr-2899	546	4	rating	rating	NOUN
cblr-2899	546	5	agencies	agency	NOUN
cblr-2899	546	6	if	if	SCONJ
cblr-2899	546	7	investors	investor	NOUN
cblr-2899	546	8	are	be	AUX
cblr-2899	546	9	expected	expect	VERB
cblr-2899	546	10	to	to	PART
cblr-2899	546	11	select	select	VERB
cblr-2899	546	12	which	which	PRON
cblr-2899	546	13	cra	cra	NOUN
cblr-2899	546	14	to	to	PART
cblr-2899	546	15	hire	hire	VERB
cblr-2899	546	16	,	,	PUNCT
cblr-2899	546	17	they	they	PRON
cblr-2899	546	18	need	need	VERB
cblr-2899	546	19	to	to	PART
cblr-2899	546	20	have	have	VERB
cblr-2899	546	21	access	access	NOUN
cblr-2899	546	22	to	to	ADP
cblr-2899	546	23	information	information	NOUN
cblr-2899	546	24	that	that	PRON
cblr-2899	546	25	will	will	AUX
cblr-2899	546	26	allow	allow	VERB
cblr-2899	546	27	them	they	PRON
cblr-2899	546	28	to	to	PART
cblr-2899	546	29	compare	compare	VERB
cblr-2899	546	30	the	the	DET
cblr-2899	546	31	different	different	ADJ
cblr-2899	546	32	cras	cra	NOUN
cblr-2899	546	33	and	and	CCONJ
cblr-2899	546	34	make	make	VERB
cblr-2899	546	35	educated	educated	ADJ
cblr-2899	546	36	decisions	decision	NOUN
cblr-2899	546	37	.	.	PUNCT
cblr-2899	547	1	to	to	PART
cblr-2899	547	2	facilitate	facilitate	VERB
cblr-2899	547	3	this	this	DET
cblr-2899	547	4	decision	decision	NOUN
cblr-2899	547	5	-	-	PUNCT
cblr-2899	547	6	making	make	VERB
cblr-2899	547	7	process	process	NOUN
cblr-2899	547	8	,	,	PUNCT
cblr-2899	547	9	the	the	DET
cblr-2899	547	10	second	second	ADJ
cblr-2899	547	11	step	step	NOUN
cblr-2899	547	12	of	of	ADP
cblr-2899	547	13	the	the	DET
cblr-2899	547	14	proposal	proposal	NOUN
cblr-2899	547	15	involves	involve	VERB
cblr-2899	547	16	the	the	DET
cblr-2899	547	17	creation	creation	NOUN
cblr-2899	547	18	of	of	ADP
cblr-2899	547	19	a	a	DET
cblr-2899	547	20	governmental	governmental	ADJ
cblr-2899	547	21	agency	agency	NOUN
cblr-2899	547	22	or	or	CCONJ
cblr-2899	547	23	a	a	DET
cblr-2899	547	24	self	self	NOUN
cblr-2899	547	25	-	-	PUNCT
cblr-2899	547	26	regulatory	regulatory	ADJ
cblr-2899	547	27	organization	organization	NOUN
cblr-2899	547	28	that	that	PRON
cblr-2899	547	29	evaluates	evaluate	VERB
cblr-2899	547	30	and	and	CCONJ
cblr-2899	547	31	ranks	rank	VERB
cblr-2899	547	32	the	the	DET
cblr-2899	547	33	performance	performance	NOUN
cblr-2899	547	34	of	of	ADP
cblr-2899	547	35	the	the	DET
cblr-2899	547	36	individual	individual	ADJ
cblr-2899	547	37	cras	cras	X
cblr-2899	547	38	.	.	PUNCT
cblr-2899	548	1	160	160	NUM
cblr-2899	548	2	u.s	u.s	PROPN
cblr-2899	548	3	.	.	PROPN
cblr-2899	548	4	supreme	supreme	PROPN
cblr-2899	548	5	court	court	PROPN
cblr-2899	548	6	justice	justice	PROPN
cblr-2899	548	7	louis	louis	PROPN
cblr-2899	548	8	brandeis	brandeis	PROPN
cblr-2899	548	9	highlighted	highlight	VERB
cblr-2899	548	10	the	the	DET
cblr-2899	548	11	importance	importance	NOUN
cblr-2899	548	12	of	of	ADP
cblr-2899	548	13	disclosure	disclosure	NOUN
cblr-2899	548	14	through	through	ADP
cblr-2899	548	15	his	his	PRON
cblr-2899	548	16	famous	famous	ADJ
cblr-2899	548	17	words	word	NOUN
cblr-2899	548	18	:	:	PUNCT
cblr-2899	548	19	"	"	PUNCT
cblr-2899	548	20	sunlight	sunlight	NOUN
cblr-2899	548	21	is	be	AUX
cblr-2899	548	22	the	the	DET
cblr-2899	548	23	best	good	ADJ
cblr-2899	548	24	disinfectant	disinfectant	NOUN
cblr-2899	548	25	.	.	PUNCT
cblr-2899	548	26	"	"	PUNCT
cblr-2899	549	1	161	161	NUM
cblr-2899	549	2	however	however	ADV
cblr-2899	549	3	,	,	PUNCT
cblr-2899	549	4	a	a	DET
cblr-2899	549	5	recent	recent	ADJ
cblr-2899	549	6	study	study	NOUN
cblr-2899	549	7	shows	show	VERB
cblr-2899	549	8	that	that	SCONJ
cblr-2899	549	9	,	,	PUNCT
cblr-2899	549	10	even	even	ADV
cblr-2899	549	11	with	with	ADP
cblr-2899	549	12	disclosure	disclosure	NOUN
cblr-2899	549	13	,	,	PUNCT
cblr-2899	549	14	"	"	PUNCT
cblr-2899	549	15	there	there	PRON
cblr-2899	549	16	is	be	VERB
cblr-2899	549	17	no	no	DET
cblr-2899	549	18	evidence	evidence	NOUN
cblr-2899	549	19	debt	debt	NOUN
cblr-2899	549	20	issuers	issuer	NOUN
cblr-2899	549	21	have	have	AUX
cblr-2899	549	22	considered	consider	VERB
cblr-2899	549	23	ratings	rating	NOUN
cblr-2899	549	24	agencies	agency	NOUN
cblr-2899	549	25	'	'	PART
cblr-2899	549	26	historical	historical	ADJ
cblr-2899	549	27	performances	performance	NOUN
cblr-2899	549	28	before	before	ADP
cblr-2899	549	29	making	make	VERB
cblr-2899	549	30	their	their	PRON
cblr-2899	549	31	selections	selection	NOUN
cblr-2899	549	32	.	.	PUNCT
cblr-2899	550	1	instead	instead	ADV
cblr-2899	550	2	,	,	PUNCT
cblr-2899	550	3	debt	debt	NOUN
cblr-2899	550	4	issuers	issuer	NOUN
cblr-2899	550	5	appear	appear	VERB
cblr-2899	550	6	to	to	PART
cblr-2899	550	7	be	be	AUX
cblr-2899	550	8	brand	brand	NOUN
cblr-2899	550	9	-	-	PUNCT
cblr-2899	550	10	conscious	conscious	ADJ
cblr-2899	550	11	and	and	CCONJ
cblr-2899	550	12	have	have	AUX
cblr-2899	550	13	exhibited	exhibit	VERB
cblr-2899	550	14	a	a	DET
cblr-2899	550	15	tendency	tendency	NOUN
cblr-2899	550	16	of	of	ADP
cblr-2899	550	17	selecting	select	VERB
cblr-2899	550	18	rating	rating	NOUN
cblr-2899	550	19	agencies	agency	NOUN
cblr-2899	550	20	based	base	VERB
cblr-2899	550	21	on	on	ADP
cblr-2899	550	22	the	the	DET
cblr-2899	550	23	latter	latter	NOUN
cblr-2899	550	24	's	's	PART
cblr-2899	550	25	pre	pre	ADJ
cblr-2899	550	26	-	-	ADJ
cblr-2899	550	27	existing	exist	VERB
cblr-2899	550	28	market	market	NOUN
cblr-2899	550	29	positions	position	NOUN
cblr-2899	550	30	and	and	CCONJ
cblr-2899	550	31	name	name	NOUN
cblr-2899	550	32	recognitions	recognition	NOUN
cblr-2899	550	33	.	.	PUNCT
cblr-2899	551	1	"1	"1	NOUN
cblr-2899	551	2	6	6	NUM
cblr-2899	551	3	2	2	NUM
cblr-2899	551	4	disclosure	disclosure	NOUN
cblr-2899	551	5	was	be	AUX
cblr-2899	551	6	probably	probably	ADV
cblr-2899	551	7	ineffective	ineffective	ADJ
cblr-2899	551	8	in	in	ADP
cblr-2899	551	9	altering	alter	VERB
cblr-2899	551	10	choices	choice	NOUN
cblr-2899	551	11	because	because	SCONJ
cblr-2899	551	12	cra	cra	NOUN
cblr-2899	551	13	disclosures	disclosure	NOUN
cblr-2899	551	14	are	be	AUX
cblr-2899	551	15	inconsistent	inconsistent	ADJ
cblr-2899	551	16	and	and	CCONJ
cblr-2899	551	17	nonstandard	nonstandard	ADJ
cblr-2899	551	18	,	,	PUNCT
cblr-2899	551	19	so	so	ADV
cblr-2899	551	20	"	"	PUNCT
cblr-2899	551	21	industry	industry	NOUN
cblr-2899	551	22	wide	wide	ADJ
cblr-2899	551	23	comparisons	comparison	NOUN
cblr-2899	551	24	of	of	ADP
cblr-2899	551	25	credit	credit	NOUN
cblr-2899	551	26	rating	rating	NOUN
cblr-2899	551	27	agencies	agency	NOUN
cblr-2899	551	28	'	'	PART
cblr-2899	551	29	performance	performance	NOUN
cblr-2899	551	30	measurements	measurement	NOUN
cblr-2899	551	31	"	"	PUNCT
cblr-2899	551	32	became	become	VERB
cblr-2899	551	33	a	a	DET
cblr-2899	551	34	"	"	PUNCT
cblr-2899	551	35	difficult	difficult	ADJ
cblr-2899	551	36	and	and	CCONJ
cblr-2899	551	37	tedious	tedious	ADJ
cblr-2899	551	38	160	160	NUM
cblr-2899	551	39	see	see	NOUN
cblr-2899	551	40	generally	generally	ADV
cblr-2899	551	41	lynn	lynn	PROPN
cblr-2899	551	42	bai	bai	PROPN
cblr-2899	551	43	,	,	PUNCT
cblr-2899	551	44	the	the	DET
cblr-2899	551	45	performance	performance	NOUN
cblr-2899	551	46	disclosures	disclosure	NOUN
cblr-2899	551	47	of	of	ADP
cblr-2899	551	48	credit	credit	NOUN
cblr-2899	551	49	rating	rating	NOUN
cblr-2899	551	50	agencies	agency	NOUN
cblr-2899	551	51	:	:	PUNCT
cblr-2899	551	52	are	be	AUX
cblr-2899	551	53	they	they	PRON
cblr-2899	551	54	effective	effective	ADJ
cblr-2899	551	55	reputational	reputational	ADJ
cblr-2899	551	56	sanctions	sanction	NOUN
cblr-2899	551	57	?	?	PUNCT
cblr-2899	552	1	,	,	PUNCT
cblr-2899	552	2	7	7	NUM
cblr-2899	552	3	n.y.u	n.y.u	NOUN
cblr-2899	552	4	.	.	PUNCT
cblr-2899	552	5	j.	j.	PROPN
cblr-2899	552	6	l.	l.	PROPN
cblr-2899	552	7	&	&	CCONJ
cblr-2899	552	8	bus	bus	PROPN
cblr-2899	552	9	.	.	PUNCT
cblr-2899	553	1	47	47	NUM
cblr-2899	553	2	(	(	PUNCT
cblr-2899	553	3	2010	2010	NUM
cblr-2899	553	4	)	)	PUNCT
cblr-2899	553	5	.	.	PUNCT
cblr-2899	554	1	161	161	NUM
cblr-2899	554	2	louis	louis	PROPN
cblr-2899	554	3	d.	d.	PROPN
cblr-2899	554	4	brandeis	brandeis	PROPN
cblr-2899	554	5	,	,	PUNCT
cblr-2899	554	6	other	other	ADJ
cblr-2899	554	7	people	people	NOUN
cblr-2899	554	8	's	's	PART
cblr-2899	554	9	money	money	NOUN
cblr-2899	554	10	62	62	NUM
cblr-2899	554	11	(	(	PUNCT
cblr-2899	554	12	nat'1	nat'1	ADJ
cblr-2899	554	13	home	home	NOUN
cblr-2899	554	14	library	library	NOUN
cblr-2899	554	15	found	find	VERB
cblr-2899	554	16	.	.	PUNCT
cblr-2899	555	1	ed	ed	NOUN
cblr-2899	555	2	.	.	PROPN
cblr-2899	555	3	1933	1933	NUM
cblr-2899	555	4	)	)	PUNCT
cblr-2899	555	5	(	(	PUNCT
cblr-2899	555	6	1914	1914	NUM
cblr-2899	555	7	)	)	PUNCT
cblr-2899	555	8	.	.	PUNCT
cblr-2899	556	1	162	162	NUM
cblr-2899	556	2	bai	bai	PROPN
cblr-2899	556	3	,	,	PUNCT
cblr-2899	556	4	supra	supra	PROPN
cblr-2899	556	5	note	note	PROPN
cblr-2899	556	6	160	160	NUM
cblr-2899	556	7	,	,	PUNCT
cblr-2899	556	8	at	at	ADP
cblr-2899	556	9	95	95	NUM
cblr-2899	556	10	.	.	PUNCT
cblr-2899	557	1	no	no	INTJ
cblr-2899	557	2	.	.	NOUN
cblr-2899	558	1	3:994	3:994	NUM
cblr-2899	558	2	]	]	PUNCT
cblr-2899	558	3	1033	1033	NUM
cblr-2899	558	4	columbia	columbia	PROPN
cblr-2899	558	5	business	business	NOUN
cblr-2899	558	6	law	law	PROPN
cblr-2899	558	7	review	review	NOUN
cblr-2899	558	8	task	task	NOUN
cblr-2899	558	9	.	.	PUNCT
cblr-2899	558	10	"	"	PUNCT
cblr-2899	559	1	63	63	NUM
cblr-2899	559	2	therefore	therefore	ADV
cblr-2899	559	3	,	,	PUNCT
cblr-2899	559	4	disclosure	disclosure	NOUN
cblr-2899	559	5	on	on	ADP
cblr-2899	559	6	its	its	PRON
cblr-2899	559	7	own	own	ADJ
cblr-2899	559	8	is	be	AUX
cblr-2899	559	9	not	not	PART
cblr-2899	559	10	a	a	DET
cblr-2899	559	11	sufficient	sufficient	ADJ
cblr-2899	559	12	solution	solution	NOUN
cblr-2899	559	13	,	,	PUNCT
cblr-2899	559	14	and	and	CCONJ
cblr-2899	559	15	information	information	NOUN
cblr-2899	559	16	must	must	AUX
cblr-2899	559	17	"	"	PUNCT
cblr-2899	559	18	take	take	VERB
cblr-2899	559	19	the	the	DET
cblr-2899	559	20	form	form	NOUN
cblr-2899	559	21	of	of	ADP
cblr-2899	559	22	simple	simple	ADJ
cblr-2899	559	23	cues	cue	NOUN
cblr-2899	559	24	or	or	CCONJ
cblr-2899	559	25	associations	association	NOUN
cblr-2899	559	26	"	"	PUNCT
cblr-2899	559	27	in	in	ADP
cblr-2899	559	28	order	order	NOUN
cblr-2899	559	29	to	to	PART
cblr-2899	559	30	affect	affect	VERB
cblr-2899	559	31	consumer	consumer	NOUN
cblr-2899	559	32	choice	choice	NOUN
cblr-2899	559	33	and	and	CCONJ
cblr-2899	559	34	award	award	VERB
cblr-2899	559	35	the	the	DET
cblr-2899	559	36	efficient	efficient	ADJ
cblr-2899	559	37	cras	cras	X
cblr-2899	559	38	the	the	DET
cblr-2899	559	39	largest	large	ADJ
cblr-2899	559	40	share	share	NOUN
cblr-2899	559	41	of	of	ADP
cblr-2899	559	42	the	the	DET
cblr-2899	559	43	market	market	NOUN
cblr-2899	559	44	.	.	PUNCT
cblr-2899	560	1	164	164	NUM
cblr-2899	560	2	through	through	ADP
cblr-2899	560	3	dodd	dodd	PROPN
cblr-2899	560	4	-	-	PUNCT
cblr-2899	560	5	frank	frank	PROPN
cblr-2899	560	6	,	,	PUNCT
cblr-2899	560	7	policymakers	policymaker	NOUN
cblr-2899	560	8	have	have	AUX
cblr-2899	560	9	enacted	enact	VERB
cblr-2899	560	10	significant	significant	ADJ
cblr-2899	560	11	disclosure	disclosure	NOUN
cblr-2899	560	12	requirements	requirement	NOUN
cblr-2899	560	13	that	that	PRON
cblr-2899	560	14	can	can	AUX
cblr-2899	560	15	be	be	AUX
cblr-2899	560	16	used	use	VERB
cblr-2899	560	17	to	to	PART
cblr-2899	560	18	measure	measure	VERB
cblr-2899	560	19	the	the	DET
cblr-2899	560	20	accuracy	accuracy	NOUN
cblr-2899	560	21	of	of	ADP
cblr-2899	560	22	the	the	DET
cblr-2899	560	23	ratings	rating	NOUN
cblr-2899	560	24	issued	issue	VERB
cblr-2899	560	25	by	by	ADP
cblr-2899	560	26	cras	cras	PROPN
cblr-2899	560	27	.	.	PUNCT
cblr-2899	561	1	similarly	similarly	ADV
cblr-2899	561	2	,	,	PUNCT
cblr-2899	561	3	in	in	ADP
cblr-2899	561	4	europe	europe	PROPN
cblr-2899	561	5	,	,	PUNCT
cblr-2899	561	6	the	the	DET
cblr-2899	561	7	esma	esma	NOUN
cblr-2899	561	8	will	will	AUX
cblr-2899	561	9	create	create	VERB
cblr-2899	561	10	a	a	DET
cblr-2899	561	11	central	central	ADJ
cblr-2899	561	12	repository	repository	NOUN
cblr-2899	561	13	where	where	SCONJ
cblr-2899	561	14	cras	cras	PROPN
cblr-2899	561	15	will	will	AUX
cblr-2899	561	16	make	make	VERB
cblr-2899	561	17	available	available	ADJ
cblr-2899	561	18	historical	historical	ADJ
cblr-2899	561	19	performance	performance	NOUN
cblr-2899	561	20	data.16	data.16	PROPN
cblr-2899	561	21	6	6	NUM
cblr-2899	561	22	but	but	CCONJ
cblr-2899	561	23	these	these	DET
cblr-2899	561	24	progressive	progressive	ADJ
cblr-2899	561	25	steps	step	NOUN
cblr-2899	561	26	alone	alone	ADV
cblr-2899	561	27	are	be	AUX
cblr-2899	561	28	not	not	PART
cblr-2899	561	29	enough	enough	ADJ
cblr-2899	561	30	.	.	PUNCT
cblr-2899	562	1	to	to	PART
cblr-2899	562	2	synthesize	synthesize	VERB
cblr-2899	562	3	the	the	DET
cblr-2899	562	4	huge	huge	ADJ
cblr-2899	562	5	amount	amount	NOUN
cblr-2899	562	6	of	of	ADP
cblr-2899	562	7	disclosed	disclose	VERB
cblr-2899	562	8	information	information	NOUN
cblr-2899	562	9	and	and	CCONJ
cblr-2899	562	10	to	to	PART
cblr-2899	562	11	facilitate	facilitate	VERB
cblr-2899	562	12	comparison	comparison	NOUN
cblr-2899	562	13	across	across	ADP
cblr-2899	562	14	agencies	agency	NOUN
cblr-2899	562	15	,	,	PUNCT
cblr-2899	562	16	an	an	DET
cblr-2899	562	17	"	"	PUNCT
cblr-2899	562	18	entity	entity	NOUN
cblr-2899	562	19	that	that	PRON
cblr-2899	562	20	functions	function	NOUN
cblr-2899	562	21	as	as	ADP
cblr-2899	562	22	a	a	DET
cblr-2899	562	23	rater	rater	NOUN
cblr-2899	562	24	of	of	ADP
cblr-2899	562	25	rating	rating	NOUN
cblr-2899	562	26	agencies	agency	NOUN
cblr-2899	562	27	"	"	PUNCT
cblr-2899	562	28	should	should	AUX
cblr-2899	562	29	be	be	AUX
cblr-2899	562	30	established	establish	VERB
cblr-2899	562	31	.	.	PUNCT
cblr-2899	563	1	166	166	NUM
cblr-2899	563	2	the	the	DET
cblr-2899	563	3	"	"	PUNCT
cblr-2899	563	4	rater	rater	NOUN
cblr-2899	563	5	of	of	ADP
cblr-2899	563	6	rating	rating	NOUN
cblr-2899	563	7	agencies	agency	NOUN
cblr-2899	563	8	"	"	PUNCT
cblr-2899	563	9	could	could	AUX
cblr-2899	563	10	disclose	disclose	VERB
cblr-2899	563	11	these	these	DET
cblr-2899	563	12	rankings	ranking	NOUN
cblr-2899	563	13	on	on	ADP
cblr-2899	563	14	an	an	DET
cblr-2899	563	15	easily	easily	ADV
cblr-2899	563	16	accessible	accessible	ADJ
cblr-2899	563	17	website	website	NOUN
cblr-2899	563	18	.	.	PUNCT
cblr-2899	564	1	the	the	DET
cblr-2899	564	2	website	website	NOUN
cblr-2899	564	3	should	should	AUX
cblr-2899	564	4	also	also	ADV
cblr-2899	564	5	offer	offer	VERB
cblr-2899	564	6	access	access	NOUN
cblr-2899	564	7	to	to	ADP
cblr-2899	564	8	the	the	DET
cblr-2899	564	9	information	information	NOUN
cblr-2899	564	10	used	use	VERB
cblr-2899	564	11	to	to	PART
cblr-2899	564	12	create	create	VERB
cblr-2899	564	13	the	the	DET
cblr-2899	564	14	rankings	ranking	NOUN
cblr-2899	564	15	,	,	PUNCT
cblr-2899	564	16	in	in	ADP
cblr-2899	564	17	order	order	NOUN
cblr-2899	564	18	to	to	PART
cblr-2899	564	19	facilitate	facilitate	VERB
cblr-2899	564	20	individualized	individualized	ADJ
cblr-2899	564	21	risk	risk	NOUN
cblr-2899	564	22	determinations	determination	NOUN
cblr-2899	564	23	by	by	ADP
cblr-2899	564	24	investors	investor	NOUN
cblr-2899	564	25	.	.	PUNCT
cblr-2899	565	1	there	there	PRON
cblr-2899	565	2	could	could	AUX
cblr-2899	565	3	be	be	AUX
cblr-2899	565	4	one	one	NUM
cblr-2899	565	5	general	general	ADJ
cblr-2899	565	6	performance	performance	NOUN
cblr-2899	565	7	ranking	rank	VERB
cblr-2899	565	8	or	or	CCONJ
cblr-2899	565	9	,	,	PUNCT
cblr-2899	565	10	ideally	ideally	ADV
cblr-2899	565	11	,	,	PUNCT
cblr-2899	565	12	rankings	ranking	NOUN
cblr-2899	565	13	of	of	ADP
cblr-2899	565	14	cras	cras	PROPN
cblr-2899	565	15	'	'	PART
cblr-2899	565	16	performances	performance	NOUN
cblr-2899	565	17	in	in	ADP
cblr-2899	565	18	rating	rate	VERB
cblr-2899	565	19	different	different	ADJ
cblr-2899	565	20	asset	asset	NOUN
cblr-2899	565	21	classes	class	NOUN
cblr-2899	565	22	(	(	PUNCT
cblr-2899	565	23	i.e.	i.e.	X
cblr-2899	565	24	,	,	PUNCT
cblr-2899	565	25	separate	separate	ADJ
cblr-2899	565	26	rankings	ranking	NOUN
cblr-2899	565	27	for	for	ADP
cblr-2899	565	28	structured	structured	ADJ
cblr-2899	565	29	finance	finance	NOUN
cblr-2899	565	30	and	and	CCONJ
cblr-2899	565	31	corporate	corporate	ADJ
cblr-2899	565	32	bonds	bond	NOUN
cblr-2899	565	33	)	)	PUNCT
cblr-2899	565	34	.	.	PUNCT
cblr-2899	566	1	deciding	decide	VERB
cblr-2899	566	2	which	which	PRON
cblr-2899	566	3	metrics	metric	NOUN
cblr-2899	566	4	should	should	AUX
cblr-2899	566	5	influence	influence	VERB
cblr-2899	566	6	the	the	DET
cblr-2899	566	7	evaluation	evaluation	NOUN
cblr-2899	566	8	and	and	CCONJ
cblr-2899	566	9	rankings	ranking	NOUN
cblr-2899	566	10	of	of	ADP
cblr-2899	566	11	cras	cras	PROPN
cblr-2899	566	12	is	be	AUX
cblr-2899	566	13	so	so	ADV
cblr-2899	566	14	complex	complex	ADJ
cblr-2899	566	15	-	-	PUNCT
cblr-2899	566	16	and	and	CCONJ
cblr-2899	566	17	also	also	ADV
cblr-2899	566	18	so	so	ADV
cblr-2899	566	19	essentialthat	essentialthat	ADP
cblr-2899	567	1	it	it	PRON
cblr-2899	567	2	may	may	AUX
cblr-2899	567	3	be	be	AUX
cblr-2899	567	4	necessary	necessary	ADJ
cblr-2899	567	5	to	to	PART
cblr-2899	567	6	request	request	VERB
cblr-2899	567	7	a	a	DET
cblr-2899	567	8	period	period	NOUN
cblr-2899	567	9	of	of	ADP
cblr-2899	567	10	public	public	ADJ
cblr-2899	567	11	comment	comment	NOUN
cblr-2899	567	12	on	on	ADP
cblr-2899	567	13	the	the	DET
cblr-2899	567	14	matter	matter	NOUN
cblr-2899	567	15	.	.	PUNCT
cblr-2899	568	1	one	one	NUM
cblr-2899	568	2	obvious	obvious	ADJ
cblr-2899	568	3	metric	metric	ADJ
cblr-2899	568	4	affecting	affect	VERB
cblr-2899	568	5	evaluations	evaluation	NOUN
cblr-2899	568	6	should	should	AUX
cblr-2899	568	7	be	be	AUX
cblr-2899	568	8	the	the	DET
cblr-2899	568	9	performance	performance	NOUN
cblr-2899	568	10	statistics	statistic	NOUN
cblr-2899	568	11	of	of	ADP
cblr-2899	568	12	cras	cras	X
cblr-2899	568	13	.	.	PUNCT
cblr-2899	569	1	this	this	PRON
cblr-2899	569	2	would	would	AUX
cblr-2899	569	3	likely	likely	ADV
cblr-2899	569	4	be	be	AUX
cblr-2899	569	5	measured	measure	VERB
cblr-2899	569	6	as	as	ADP
cblr-2899	569	7	the	the	DET
cblr-2899	569	8	correlation	correlation	NOUN
cblr-2899	569	9	between	between	ADP
cblr-2899	569	10	an	an	DET
cblr-2899	569	11	nroso	nroso	NOUN
cblr-2899	569	12	's	's	PART
cblr-2899	569	13	ratings	rating	NOUN
cblr-2899	569	14	and	and	CCONJ
cblr-2899	569	15	default	default	NOUN
cblr-2899	569	16	-	-	PUNCT
cblr-2899	569	17	and	and	CCONJ
cblr-2899	569	18	-	-	PUNCT
cblr-2899	569	19	recovery	recovery	NOUN
cblr-2899	569	20	rates	rate	NOUN
cblr-2899	569	21	on	on	ADP
cblr-2899	569	22	issues	issue	NOUN
cblr-2899	569	23	rated	rate	VERB
cblr-2899	569	24	.	.	PUNCT
cblr-2899	570	1	looking	look	VERB
cblr-2899	570	2	at	at	ADP
cblr-2899	570	3	the	the	DET
cblr-2899	570	4	reason	reason	NOUN
cblr-2899	570	5	for	for	ADP
cblr-2899	570	6	past	past	ADJ
cblr-2899	570	7	downgrades	downgrade	NOUN
cblr-2899	570	8	may	may	AUX
cblr-2899	570	9	be	be	AUX
cblr-2899	570	10	very	very	ADV
cblr-2899	570	11	helpful	helpful	ADJ
cblr-2899	570	12	to	to	PART
cblr-2899	570	13	assess	assess	VERB
cblr-2899	570	14	performance	performance	NOUN
cblr-2899	570	15	.	.	PUNCT
cblr-2899	571	1	however	however	ADV
cblr-2899	571	2	,	,	PUNCT
cblr-2899	571	3	it	it	PRON
cblr-2899	571	4	will	will	AUX
cblr-2899	571	5	be	be	AUX
cblr-2899	571	6	important	important	ADJ
cblr-2899	571	7	to	to	PART
cblr-2899	571	8	differentiate	differentiate	VERB
cblr-2899	571	9	those	those	DET
cblr-2899	571	10	downgrades	downgrade	NOUN
cblr-2899	571	11	caused	cause	VERB
cblr-2899	571	12	by	by	ADP
cblr-2899	571	13	faulty	faulty	ADJ
cblr-2899	571	14	163	163	NUM
cblr-2899	571	15	bai	bai	NOUN
cblr-2899	571	16	,	,	PUNCT
cblr-2899	571	17	supra	supra	PROPN
cblr-2899	571	18	note	note	PROPN
cblr-2899	571	19	160	160	NUM
cblr-2899	571	20	,	,	PUNCT
cblr-2899	571	21	at	at	ADP
cblr-2899	571	22	63	63	NUM
cblr-2899	571	23	.	.	NOUN
cblr-2899	571	24	164	164	NUM
cblr-2899	572	1	i	i	PRON
cblr-2899	572	2	d.	d.	NOUN
cblr-2899	572	3	at	at	ADP
cblr-2899	572	4	98	98	NUM
cblr-2899	572	5	.	.	PUNCT
cblr-2899	573	1	165	165	NUM
cblr-2899	573	2	"	"	PUNCT
cblr-2899	573	3	any	any	DET
cblr-2899	573	4	registered	register	VERB
cblr-2899	573	5	and	and	CCONJ
cblr-2899	573	6	any	any	DET
cblr-2899	573	7	certified	certified	ADJ
cblr-2899	573	8	credit	credit	NOUN
cblr-2899	573	9	rating	rating	NOUN
cblr-2899	573	10	agency	agency	NOUN
cblr-2899	573	11	shall	shall	AUX
cblr-2899	573	12	make	make	VERB
cblr-2899	573	13	available	available	ADJ
cblr-2899	573	14	in	in	ADP
cblr-2899	573	15	a	a	DET
cblr-2899	573	16	central	central	ADJ
cblr-2899	573	17	repository	repository	NOUN
cblr-2899	573	18	established	establish	VERB
cblr-2899	573	19	by	by	ADP
cblr-2899	573	20	es1a	es1a	ADJ
cblr-2899	573	21	information	information	NOUN
cblr-2899	573	22	on	on	ADP
cblr-2899	573	23	its	its	PRON
cblr-2899	573	24	historical	historical	ADJ
cblr-2899	573	25	performance	performance	NOUN
cblr-2899	573	26	data	datum	NOUN
cblr-2899	573	27	including	include	VERB
cblr-2899	573	28	the	the	DET
cblr-2899	573	29	ratings	rating	NOUN
cblr-2899	573	30	transition	transition	NOUN
cblr-2899	573	31	frequency	frequency	NOUN
cblr-2899	573	32	and	and	CCONJ
cblr-2899	573	33	information	information	NOUN
cblr-2899	573	34	about	about	ADP
cblr-2899	573	35	credit	credit	NOUN
cblr-2899	573	36	ratings	rating	NOUN
cblr-2899	573	37	issued	issue	VERB
cblr-2899	573	38	in	in	ADP
cblr-2899	573	39	the	the	DET
cblr-2899	573	40	past	past	NOUN
cblr-2899	573	41	and	and	CCONJ
cblr-2899	573	42	on	on	ADP
cblr-2899	573	43	their	their	PRON
cblr-2899	573	44	changes	change	NOUN
cblr-2899	573	45	.	.	PUNCT
cblr-2899	573	46	"	"	PUNCT
cblr-2899	574	1	ec	ec	PROPN
cblr-2899	574	2	proposal	proposal	NOUN
cblr-2899	574	3	,	,	PUNCT
cblr-2899	574	4	supra	supra	PROPN
cblr-2899	574	5	note	note	PROPN
cblr-2899	574	6	82	82	NUM
cblr-2899	574	7	,	,	PUNCT
cblr-2899	574	8	at	at	ADP
cblr-2899	574	9	31	31	NUM
cblr-2899	574	10	.	.	PUNCT
cblr-2899	574	11	166	166	NUM
cblr-2899	574	12	see	see	VERB
cblr-2899	574	13	bai	bai	PROPN
cblr-2899	574	14	,	,	PUNCT
cblr-2899	574	15	supra	supra	PROPN
cblr-2899	574	16	note	note	PROPN
cblr-2899	574	17	160	160	NUM
cblr-2899	574	18	,	,	PUNCT
cblr-2899	574	19	at	at	ADP
cblr-2899	574	20	103	103	NUM
cblr-2899	574	21	.	.	PUNCT
cblr-2899	574	22	1034	1034	NUM
cblr-2899	575	1	[	[	X
cblr-2899	575	2	vol	vol	NOUN
cblr-2899	575	3	.	.	PUNCT
cblr-2899	575	4	2012	2012	NUM
cblr-2899	575	5	regulating	regulate	VERB
cblr-2899	575	6	credit	credit	NOUN
cblr-2899	575	7	rating	rating	NOUN
cblr-2899	575	8	agencies	agency	NOUN
cblr-2899	575	9	initial	initial	ADJ
cblr-2899	575	10	evaluations	evaluation	NOUN
cblr-2899	575	11	of	of	ADP
cblr-2899	575	12	cras	cras	PROPN
cblr-2899	575	13	from	from	ADP
cblr-2899	575	14	those	those	DET
cblr-2899	575	15	downgrades	downgrade	NOUN
cblr-2899	575	16	caused	cause	VERB
cblr-2899	575	17	by	by	ADP
cblr-2899	575	18	unforeseen	unforeseen	ADJ
cblr-2899	575	19	and	and	CCONJ
cblr-2899	575	20	unpredictable	unpredictable	ADJ
cblr-2899	575	21	market	market	NOUN
cblr-2899	575	22	developments	development	NOUN
cblr-2899	575	23	affecting	affect	VERB
cblr-2899	575	24	the	the	DET
cblr-2899	575	25	entire	entire	ADJ
cblr-2899	575	26	economy	economy	NOUN
cblr-2899	575	27	.	.	PUNCT
cblr-2899	576	1	other	other	ADJ
cblr-2899	576	2	important	important	ADJ
cblr-2899	576	3	considerations	consideration	NOUN
cblr-2899	576	4	should	should	AUX
cblr-2899	576	5	include	include	VERB
cblr-2899	576	6	the	the	DET
cblr-2899	576	7	frequency	frequency	NOUN
cblr-2899	576	8	with	with	ADP
cblr-2899	576	9	which	which	PRON
cblr-2899	576	10	the	the	DET
cblr-2899	576	11	rating	rating	NOUN
cblr-2899	576	12	is	be	AUX
cblr-2899	576	13	updated	update	VERB
cblr-2899	576	14	or	or	CCONJ
cblr-2899	576	15	reaffirmed	reaffirm	VERB
cblr-2899	576	16	.	.	PUNCT
cblr-2899	577	1	where	where	SCONJ
cblr-2899	577	2	a	a	DET
cblr-2899	577	3	cra	cra	PROPN
cblr-2899	577	4	changes	change	VERB
cblr-2899	577	5	its	its	PRON
cblr-2899	577	6	model	model	NOUN
cblr-2899	577	7	for	for	ADP
cblr-2899	577	8	rating	rate	VERB
cblr-2899	577	9	a	a	DET
cblr-2899	577	10	particular	particular	ADJ
cblr-2899	577	11	product	product	NOUN
cblr-2899	577	12	,	,	PUNCT
cblr-2899	577	13	prompt	prompt	ADJ
cblr-2899	577	14	updates	update	NOUN
cblr-2899	577	15	to	to	ADP
cblr-2899	577	16	older	old	ADJ
cblr-2899	577	17	ratings	rating	NOUN
cblr-2899	577	18	are	be	AUX
cblr-2899	577	19	essential	essential	ADJ
cblr-2899	577	20	,	,	PUNCT
cblr-2899	577	21	and	and	CCONJ
cblr-2899	577	22	failures	failure	NOUN
cblr-2899	577	23	to	to	PART
cblr-2899	577	24	update	update	VERB
cblr-2899	577	25	should	should	AUX
cblr-2899	577	26	significantly	significantly	ADV
cblr-2899	577	27	impact	impact	VERB
cblr-2899	577	28	rankings	ranking	NOUN
cblr-2899	577	29	.	.	PUNCT
cblr-2899	578	1	however	however	ADV
cblr-2899	578	2	,	,	PUNCT
cblr-2899	578	3	this	this	PRON
cblr-2899	578	4	will	will	AUX
cblr-2899	578	5	need	need	VERB
cblr-2899	578	6	to	to	PART
cblr-2899	578	7	be	be	AUX
cblr-2899	578	8	balanced	balance	VERB
cblr-2899	578	9	against	against	ADP
cblr-2899	578	10	other	other	ADJ
cblr-2899	578	11	considerations	consideration	NOUN
cblr-2899	578	12	,	,	PUNCT
cblr-2899	578	13	since	since	SCONJ
cblr-2899	578	14	updating	update	VERB
cblr-2899	578	15	ratings	rating	NOUN
cblr-2899	578	16	too	too	ADV
cblr-2899	578	17	often	often	ADV
cblr-2899	578	18	can	can	AUX
cblr-2899	578	19	be	be	AUX
cblr-2899	578	20	problematic	problematic	ADJ
cblr-2899	578	21	as	as	ADV
cblr-2899	578	22	well	well	ADV
cblr-2899	578	23	.	.	PUNCT
cblr-2899	579	1	updates	update	NOUN
cblr-2899	579	2	can	can	AUX
cblr-2899	579	3	trigger	trigger	VERB
cblr-2899	579	4	capital	capital	NOUN
cblr-2899	579	5	calls	call	NOUN
cblr-2899	579	6	,	,	PUNCT
cblr-2899	579	7	leading	lead	VERB
cblr-2899	579	8	to	to	ADP
cblr-2899	579	9	severe	severe	ADJ
cblr-2899	579	10	liquidity	liquidity	NOUN
cblr-2899	579	11	constraints	constraint	NOUN
cblr-2899	579	12	for	for	ADP
cblr-2899	579	13	issuers	issuer	NOUN
cblr-2899	579	14	.	.	PUNCT
cblr-2899	580	1	therefore	therefore	ADV
cblr-2899	580	2	,	,	PUNCT
cblr-2899	580	3	frequent	frequent	ADJ
cblr-2899	580	4	updates	update	NOUN
cblr-2899	580	5	could	could	AUX
cblr-2899	580	6	destabilize	destabilize	VERB
cblr-2899	580	7	the	the	DET
cblr-2899	580	8	market	market	NOUN
cblr-2899	580	9	and	and	CCONJ
cblr-2899	580	10	undermine	undermine	VERB
cblr-2899	580	11	the	the	DET
cblr-2899	580	12	essence	essence	NOUN
cblr-2899	580	13	of	of	ADP
cblr-2899	580	14	the	the	DET
cblr-2899	580	15	"	"	PUNCT
cblr-2899	580	16	ratings	rating	NOUN
cblr-2899	580	17	through	through	ADP
cblr-2899	580	18	the	the	DET
cblr-2899	580	19	cycle	cycle	NOUN
cblr-2899	580	20	"	"	PUNCT
cblr-2899	580	21	methodology	methodology	NOUN
cblr-2899	580	22	to	to	PART
cblr-2899	580	23	which	which	PRON
cblr-2899	580	24	cras	cras	PROPN
cblr-2899	580	25	adhere.16	adhere.16	VERB
cblr-2899	580	26	7	7	NUM
cblr-2899	580	27	another	another	DET
cblr-2899	580	28	factor	factor	NOUN
cblr-2899	580	29	that	that	PRON
cblr-2899	580	30	should	should	AUX
cblr-2899	580	31	affect	affect	VERB
cblr-2899	580	32	rankings	ranking	NOUN
cblr-2899	580	33	is	be	AUX
cblr-2899	580	34	the	the	DET
cblr-2899	580	35	extent	extent	NOUN
cblr-2899	580	36	to	to	PART
cblr-2899	580	37	which	which	PRON
cblr-2899	580	38	the	the	DET
cblr-2899	580	39	cra	cra	PROPN
cblr-2899	580	40	deviated	deviate	VERB
cblr-2899	580	41	from	from	ADP
cblr-2899	580	42	its	its	PRON
cblr-2899	580	43	own	own	ADJ
cblr-2899	580	44	model	model	NOUN
cblr-2899	580	45	by	by	ADP
cblr-2899	580	46	making	make	VERB
cblr-2899	580	47	either	either	CCONJ
cblr-2899	580	48	upward	upward	ADJ
cblr-2899	580	49	or	or	CCONJ
cblr-2899	580	50	downward	downward	ADJ
cblr-2899	580	51	adjustments	adjustment	NOUN
cblr-2899	580	52	when	when	SCONJ
cblr-2899	580	53	rating	rate	VERB
cblr-2899	580	54	a	a	DET
cblr-2899	580	55	particular	particular	ADJ
cblr-2899	580	56	product	product	NOUN
cblr-2899	580	57	;	;	PUNCT
cblr-2899	580	58	more	more	ADV
cblr-2899	580	59	frequent	frequent	ADJ
cblr-2899	580	60	and	and	CCONJ
cblr-2899	580	61	larger	large	ADJ
cblr-2899	580	62	adjustments	adjustment	NOUN
cblr-2899	580	63	should	should	AUX
cblr-2899	580	64	negatively	negatively	ADV
cblr-2899	580	65	impact	impact	VERB
cblr-2899	580	66	the	the	DET
cblr-2899	580	67	rankings	ranking	NOUN
cblr-2899	580	68	given	give	VERB
cblr-2899	580	69	.	.	PUNCT
cblr-2899	581	1	this	this	PRON
cblr-2899	581	2	would	would	AUX
cblr-2899	581	3	discourage	discourage	VERB
cblr-2899	581	4	the	the	DET
cblr-2899	581	5	practice	practice	NOUN
cblr-2899	581	6	of	of	ADP
cblr-2899	581	7	unwarranted	unwarranted	ADJ
cblr-2899	581	8	adjustments	adjustment	NOUN
cblr-2899	581	9	to	to	PART
cblr-2899	581	10	increase	increase	VERB
cblr-2899	581	11	the	the	DET
cblr-2899	581	12	size	size	NOUN
cblr-2899	581	13	of	of	ADP
cblr-2899	581	14	the	the	DET
cblr-2899	581	15	investment	investment	NOUN
cblr-2899	581	16	-	-	PUNCT
cblr-2899	581	17	grade	grade	NOUN
cblr-2899	581	18	tranches	tranche	NOUN
cblr-2899	581	19	.	.	PUNCT
cblr-2899	582	1	consideration	consideration	NOUN
cblr-2899	582	2	could	could	AUX
cblr-2899	582	3	also	also	ADV
cblr-2899	582	4	be	be	AUX
cblr-2899	582	5	given	give	VERB
cblr-2899	582	6	to	to	ADP
cblr-2899	582	7	a	a	DET
cblr-2899	582	8	practice	practice	NOUN
cblr-2899	582	9	of	of	ADP
cblr-2899	582	10	redflagging	redflagge	VERB
cblr-2899	582	11	the	the	DET
cblr-2899	582	12	ratings	rating	NOUN
cblr-2899	582	13	of	of	ADP
cblr-2899	582	14	securities	security	NOUN
cblr-2899	582	15	whose	whose	DET
cblr-2899	582	16	yields	yield	NOUN
cblr-2899	582	17	,	,	PUNCT
cblr-2899	582	18	once	once	ADV
cblr-2899	582	19	traded	trade	VERB
cblr-2899	582	20	in	in	ADP
cblr-2899	582	21	the	the	DET
cblr-2899	582	22	markets	market	NOUN
cblr-2899	582	23	,	,	PUNCT
cblr-2899	582	24	prove	prove	VERB
cblr-2899	582	25	to	to	PART
cblr-2899	582	26	be	be	AUX
cblr-2899	582	27	higher	high	ADJ
cblr-2899	582	28	than	than	ADP
cblr-2899	582	29	the	the	DET
cblr-2899	582	30	average	average	ADJ
cblr-2899	582	31	yields	yield	NOUN
cblr-2899	582	32	for	for	ADP
cblr-2899	582	33	securities	security	NOUN
cblr-2899	582	34	given	give	VERB
cblr-2899	582	35	the	the	DET
cblr-2899	582	36	same	same	ADJ
cblr-2899	582	37	credit	credit	NOUN
cblr-2899	582	38	rating	rating	NOUN
cblr-2899	582	39	.	.	PUNCT
cblr-2899	583	1	the	the	DET
cblr-2899	583	2	logic	logic	NOUN
cblr-2899	583	3	here	here	ADV
cblr-2899	583	4	is	be	AUX
cblr-2899	583	5	that	that	SCONJ
cblr-2899	583	6	,	,	PUNCT
cblr-2899	583	7	in	in	ADP
cblr-2899	583	8	general	general	ADJ
cblr-2899	583	9	,	,	PUNCT
cblr-2899	583	10	debt	debt	NOUN
cblr-2899	583	11	securities	security	NOUN
cblr-2899	583	12	with	with	ADP
cblr-2899	583	13	the	the	DET
cblr-2899	583	14	same	same	ADJ
cblr-2899	583	15	rating	rating	NOUN
cblr-2899	583	16	should	should	AUX
cblr-2899	583	17	have	have	VERB
cblr-2899	583	18	very	very	ADV
cblr-2899	583	19	similar	similar	ADJ
cblr-2899	583	20	yields	yield	NOUN
cblr-2899	583	21	and	and	CCONJ
cblr-2899	583	22	associated	associated	ADJ
cblr-2899	583	23	risk	risk	NOUN
cblr-2899	583	24	.	.	PUNCT
cblr-2899	584	1	finding	find	VERB
cblr-2899	584	2	notable	notable	ADJ
cblr-2899	584	3	deviations	deviation	NOUN
cblr-2899	584	4	from	from	ADP
cblr-2899	584	5	this	this	DET
cblr-2899	584	6	general	general	ADJ
cblr-2899	584	7	pattern	pattern	NOUN
cblr-2899	584	8	could	could	AUX
cblr-2899	584	9	help	help	AUX
cblr-2899	584	10	identify	identify	VERB
cblr-2899	584	11	inflated	inflated	ADJ
cblr-2899	584	12	ratings	rating	NOUN
cblr-2899	584	13	and	and	CCONJ
cblr-2899	584	14	discourage	discourage	VERB
cblr-2899	584	15	issuers	issuer	NOUN
cblr-2899	584	16	and	and	CCONJ
cblr-2899	584	17	investors	investor	NOUN
cblr-2899	584	18	from	from	ADP
cblr-2899	584	19	influencing	influence	VERB
cblr-2899	584	20	cras	cra	NOUN
cblr-2899	584	21	to	to	PART
cblr-2899	584	22	give	give	VERB
cblr-2899	584	23	risky	risky	ADJ
cblr-2899	584	24	,	,	PUNCT
cblr-2899	584	25	high	high	ADJ
cblr-2899	584	26	yielding	yield	VERB
cblr-2899	584	27	debt	debt	NOUN
cblr-2899	584	28	unjustifiably	unjustifiably	ADV
cblr-2899	584	29	high	high	ADJ
cblr-2899	584	30	ratings	rating	NOUN
cblr-2899	584	31	actually	actually	ADV
cblr-2899	584	32	meant	mean	VERB
cblr-2899	584	33	for	for	ADP
cblr-2899	584	34	less	less	ADV
cblr-2899	584	35	risky	risky	ADJ
cblr-2899	584	36	,	,	PUNCT
cblr-2899	584	37	lower	lower	ADV
cblr-2899	584	38	yielding	yield	VERB
cblr-2899	584	39	debt	debt	NOUN
cblr-2899	584	40	.	.	PUNCT
cblr-2899	585	1	it	it	PRON
cblr-2899	585	2	should	should	AUX
cblr-2899	585	3	be	be	AUX
cblr-2899	585	4	kept	keep	VERB
cblr-2899	585	5	in	in	ADP
cblr-2899	585	6	mind	mind	NOUN
cblr-2899	585	7	that	that	SCONJ
cblr-2899	585	8	many	many	ADJ
cblr-2899	585	9	factors	factor	NOUN
cblr-2899	585	10	affect	affect	VERB
cblr-2899	585	11	appropriate	appropriate	ADJ
cblr-2899	585	12	yields	yield	NOUN
cblr-2899	585	13	for	for	ADP
cblr-2899	585	14	a	a	DET
cblr-2899	585	15	security	security	NOUN
cblr-2899	585	16	,	,	PUNCT
cblr-2899	585	17	including	include	VERB
cblr-2899	585	18	the	the	DET
cblr-2899	585	19	maturity	maturity	NOUN
cblr-2899	585	20	of	of	ADP
cblr-2899	585	21	the	the	DET
cblr-2899	585	22	debt	debt	NOUN
cblr-2899	585	23	and	and	CCONJ
cblr-2899	585	24	the	the	DET
cblr-2899	585	25	type	type	NOUN
cblr-2899	585	26	of	of	ADP
cblr-2899	585	27	debt	debt	NOUN
cblr-2899	585	28	in	in	ADP
cblr-2899	585	29	question	question	NOUN
cblr-2899	585	30	.	.	PUNCT
cblr-2899	586	1	ranking	rank	VERB
cblr-2899	586	2	cras	cras	PROPN
cblr-2899	586	3	by	by	ADP
cblr-2899	586	4	performance	performance	NOUN
cblr-2899	586	5	will	will	AUX
cblr-2899	586	6	incentivize	incentivize	VERB
cblr-2899	586	7	cras	cras	PROPN
cblr-2899	586	8	to	to	PART
cblr-2899	586	9	maximize	maximize	VERB
cblr-2899	586	10	their	their	PRON
cblr-2899	586	11	accuracy	accuracy	NOUN
cblr-2899	586	12	through	through	ADP
cblr-2899	586	13	innovation	innovation	NOUN
cblr-2899	586	14	and	and	CCONJ
cblr-2899	586	15	prudent	prudent	NOUN
cblr-2899	586	16	167	167	NUM
cblr-2899	586	17	see	see	VERB
cblr-2899	586	18	richardson	richardson	PROPN
cblr-2899	586	19	&	&	CCONJ
cblr-2899	586	20	white	white	PROPN
cblr-2899	586	21	,	,	PUNCT
cblr-2899	586	22	supra	supra	PROPN
cblr-2899	586	23	note	note	PROPN
cblr-2899	586	24	25	25	NUM
cblr-2899	586	25	,	,	PUNCT
cblr-2899	586	26	at	at	ADP
cblr-2899	586	27	112	112	NUM
cblr-2899	586	28	.	.	PUNCT
cblr-2899	587	1	no	no	INTJ
cblr-2899	587	2	.	.	NOUN
cblr-2899	588	1	3:994	3:994	NUM
cblr-2899	588	2	]	]	SYM
cblr-2899	588	3	1035	1035	NUM
cblr-2899	588	4	columbia	columbia	PROPN
cblr-2899	588	5	business	business	PROPN
cblr-2899	588	6	law	law	PROPN
cblr-2899	588	7	review	review	NOUN
cblr-2899	588	8	behavior	behavior	NOUN
cblr-2899	588	9	.	.	PUNCT
cblr-2899	589	1	however	however	ADV
cblr-2899	589	2	,	,	PUNCT
cblr-2899	589	3	the	the	DET
cblr-2899	589	4	downside	downside	NOUN
cblr-2899	589	5	is	be	AUX
cblr-2899	589	6	that	that	SCONJ
cblr-2899	589	7	there	there	PRON
cblr-2899	589	8	is	be	VERB
cblr-2899	589	9	a	a	DET
cblr-2899	589	10	lag	lag	NOUN
cblr-2899	589	11	between	between	ADP
cblr-2899	589	12	the	the	DET
cblr-2899	589	13	time	time	NOUN
cblr-2899	589	14	a	a	DET
cblr-2899	589	15	rating	rating	NOUN
cblr-2899	589	16	is	be	AUX
cblr-2899	589	17	issued	issue	VERB
cblr-2899	589	18	and	and	CCONJ
cblr-2899	589	19	the	the	DET
cblr-2899	589	20	time	time	NOUN
cblr-2899	589	21	an	an	DET
cblr-2899	589	22	effective	effective	ADJ
cblr-2899	589	23	evaluation	evaluation	NOUN
cblr-2899	589	24	of	of	ADP
cblr-2899	589	25	its	its	PRON
cblr-2899	589	26	performance	performance	NOUN
cblr-2899	589	27	can	can	AUX
cblr-2899	589	28	take	take	VERB
cblr-2899	589	29	place	place	NOUN
cblr-2899	589	30	.	.	PUNCT
cblr-2899	590	1	performance	performance	NOUN
cblr-2899	590	2	data	datum	NOUN
cblr-2899	590	3	can	can	AUX
cblr-2899	590	4	take	take	VERB
cblr-2899	590	5	over	over	ADP
cblr-2899	590	6	a	a	DET
cblr-2899	590	7	decade	decade	NOUN
cblr-2899	590	8	to	to	PART
cblr-2899	590	9	develop	develop	VERB
cblr-2899	590	10	,	,	PUNCT
cblr-2899	590	11	so	so	CCONJ
cblr-2899	590	12	new	new	ADJ
cblr-2899	590	13	entrants	entrant	NOUN
cblr-2899	590	14	would	would	AUX
cblr-2899	590	15	be	be	AUX
cblr-2899	590	16	prejudiced	prejudice	VERB
cblr-2899	590	17	by	by	ADP
cblr-2899	590	18	such	such	DET
cblr-2899	590	19	a	a	DET
cblr-2899	590	20	system	system	NOUN
cblr-2899	590	21	.	.	PUNCT
cblr-2899	591	1	however	however	ADV
cblr-2899	591	2	,	,	PUNCT
cblr-2899	591	3	it	it	PRON
cblr-2899	591	4	is	be	AUX
cblr-2899	591	5	questionable	questionable	ADJ
cblr-2899	591	6	whether	whether	SCONJ
cblr-2899	591	7	new	new	ADJ
cblr-2899	591	8	entrants	entrant	NOUN
cblr-2899	591	9	are	be	AUX
cblr-2899	591	10	necessary	necessary	ADJ
cblr-2899	591	11	at	at	ADV
cblr-2899	591	12	all	all	ADV
cblr-2899	591	13	.	.	PUNCT
cblr-2899	592	1	the	the	DET
cblr-2899	592	2	market	market	NOUN
cblr-2899	592	3	for	for	ADP
cblr-2899	592	4	rating	rating	NOUN
cblr-2899	592	5	securities	security	NOUN
cblr-2899	592	6	may	may	AUX
cblr-2899	592	7	simply	simply	ADV
cblr-2899	592	8	not	not	PART
cblr-2899	592	9	be	be	AUX
cblr-2899	592	10	conducive	conducive	ADJ
cblr-2899	592	11	to	to	ADP
cblr-2899	592	12	large	large	ADJ
cblr-2899	592	13	-	-	PUNCT
cblr-2899	592	14	scale	scale	NOUN
cblr-2899	592	15	competition	competition	NOUN
cblr-2899	592	16	and	and	CCONJ
cblr-2899	592	17	perhaps	perhaps	ADV
cblr-2899	592	18	does	do	AUX
cblr-2899	592	19	not	not	PART
cblr-2899	592	20	need	need	VERB
cblr-2899	592	21	many	many	ADJ
cblr-2899	592	22	players	player	NOUN
cblr-2899	592	23	;	;	PUNCT
cblr-2899	592	24	instead	instead	ADV
cblr-2899	592	25	,	,	PUNCT
cblr-2899	592	26	needing	need	VERB
cblr-2899	592	27	only	only	ADV
cblr-2899	592	28	assurance	assurance	NOUN
cblr-2899	592	29	of	of	ADP
cblr-2899	592	30	continued	continue	VERB
cblr-2899	592	31	competition	competition	NOUN
cblr-2899	592	32	among	among	ADP
cblr-2899	592	33	current	current	ADJ
cblr-2899	592	34	players	player	NOUN
cblr-2899	592	35	.	.	PUNCT
cblr-2899	593	1	1	1	NUM
cblr-2899	593	2	6	6	NUM
cblr-2899	593	3	there	there	PRON
cblr-2899	593	4	are	be	VERB
cblr-2899	593	5	currently	currently	ADV
cblr-2899	593	6	nine	nine	NUM
cblr-2899	593	7	nrsros	nrsro	NOUN
cblr-2899	593	8	,	,	PUNCT
cblr-2899	593	9	so	so	SCONJ
cblr-2899	593	10	some	some	PRON
cblr-2899	593	11	of	of	ADP
cblr-2899	593	12	the	the	DET
cblr-2899	593	13	smaller	small	ADJ
cblr-2899	593	14	nrsros	nrsro	NOUN
cblr-2899	593	15	expand	expand	VERB
cblr-2899	593	16	to	to	PART
cblr-2899	593	17	rate	rate	VERB
cblr-2899	593	18	more	more	ADJ
cblr-2899	593	19	than	than	ADP
cblr-2899	593	20	just	just	ADV
cblr-2899	593	21	niche	niche	NOUN
cblr-2899	593	22	securities	security	NOUN
cblr-2899	593	23	.	.	PUNCT
cblr-2899	594	1	69	69	NUM
cblr-2899	595	1	due	due	ADP
cblr-2899	595	2	to	to	ADP
cblr-2899	595	3	the	the	DET
cblr-2899	595	4	sec	sec	PROPN
cblr-2899	595	5	's	's	PART
cblr-2899	595	6	"	"	PUNCT
cblr-2899	595	7	equal	equal	ADJ
cblr-2899	595	8	access	access	NOUN
cblr-2899	595	9	"	"	PUNCT
cblr-2899	595	10	rule	rule	NOUN
cblr-2899	595	11	,	,	PUNCT
cblr-2899	595	12	rule	rule	NOUN
cblr-2899	595	13	17g-5	17g-5	NUM
cblr-2899	595	14	,	,	PUNCT
cblr-2899	595	15	the	the	DET
cblr-2899	595	16	smaller	small	ADJ
cblr-2899	595	17	cras	cra	NOUN
cblr-2899	595	18	have	have	VERB
cblr-2899	595	19	access	access	NOUN
cblr-2899	595	20	to	to	ADP
cblr-2899	595	21	the	the	DET
cblr-2899	595	22	same	same	ADJ
cblr-2899	595	23	information	information	NOUN
cblr-2899	595	24	as	as	ADP
cblr-2899	595	25	the	the	DET
cblr-2899	595	26	established	establish	VERB
cblr-2899	595	27	rating	rating	NOUN
cblr-2899	595	28	agencies	agency	NOUN
cblr-2899	595	29	and	and	CCONJ
cblr-2899	595	30	thus	thus	ADV
cblr-2899	595	31	have	have	VERB
cblr-2899	595	32	the	the	DET
cblr-2899	595	33	ability	ability	NOUN
cblr-2899	595	34	to	to	PART
cblr-2899	595	35	issue	issue	VERB
cblr-2899	595	36	unsolicited	unsolicite	VERB
cblr-2899	595	37	,	,	PUNCT
cblr-2899	595	38	competing	compete	VERB
cblr-2899	595	39	ratings	rating	NOUN
cblr-2899	595	40	to	to	PART
cblr-2899	595	41	promote	promote	VERB
cblr-2899	595	42	themselves.170	themselves.170	PRON
cblr-2899	595	43	this	this	PRON
cblr-2899	595	44	should	should	AUX
cblr-2899	595	45	also	also	ADV
cblr-2899	595	46	incentivize	incentivize	VERB
cblr-2899	595	47	established	establish	VERB
cblr-2899	595	48	players	player	NOUN
cblr-2899	595	49	to	to	PART
cblr-2899	595	50	consistently	consistently	ADV
cblr-2899	595	51	improve	improve	VERB
cblr-2899	595	52	their	their	PRON
cblr-2899	595	53	models	model	NOUN
cblr-2899	595	54	.	.	PUNCT
cblr-2899	596	1	the	the	DET
cblr-2899	596	2	greatest	great	ADJ
cblr-2899	596	3	challenge	challenge	NOUN
cblr-2899	596	4	will	will	AUX
cblr-2899	596	5	be	be	AUX
cblr-2899	596	6	determining	determine	VERB
cblr-2899	596	7	out	out	ADP
cblr-2899	596	8	which	which	DET
cblr-2899	596	9	body	body	NOUN
cblr-2899	596	10	should	should	AUX
cblr-2899	596	11	take	take	VERB
cblr-2899	596	12	on	on	ADP
cblr-2899	596	13	the	the	DET
cblr-2899	596	14	role	role	NOUN
cblr-2899	596	15	of	of	ADP
cblr-2899	596	16	the	the	DET
cblr-2899	596	17	"	"	PUNCT
cblr-2899	596	18	rater	rater	NOUN
cblr-2899	596	19	of	of	ADP
cblr-2899	596	20	rating	rating	NOUN
cblr-2899	596	21	agencies	agency	NOUN
cblr-2899	596	22	.	.	PUNCT
cblr-2899	596	23	"	"	PUNCT
cblr-2899	597	1	a	a	DET
cblr-2899	597	2	government	government	NOUN
cblr-2899	597	3	agency	agency	NOUN
cblr-2899	597	4	such	such	ADJ
cblr-2899	597	5	as	as	ADP
cblr-2899	597	6	the	the	DET
cblr-2899	597	7	sec	sec	PROPN
cblr-2899	597	8	may	may	AUX
cblr-2899	597	9	not	not	PART
cblr-2899	597	10	have	have	VERB
cblr-2899	597	11	the	the	DET
cblr-2899	597	12	resources	resource	NOUN
cblr-2899	597	13	to	to	PART
cblr-2899	597	14	take	take	VERB
cblr-2899	597	15	on	on	ADP
cblr-2899	597	16	such	such	DET
cblr-2899	597	17	a	a	DET
cblr-2899	597	18	big	big	ADJ
cblr-2899	597	19	task	task	NOUN
cblr-2899	597	20	,	,	PUNCT
cblr-2899	597	21	and	and	CCONJ
cblr-2899	597	22	may	may	AUX
cblr-2899	597	23	not	not	PART
cblr-2899	597	24	be	be	AUX
cblr-2899	597	25	the	the	DET
cblr-2899	597	26	most	most	ADV
cblr-2899	597	27	qualified	qualified	ADJ
cblr-2899	597	28	body	body	NOUN
cblr-2899	597	29	to	to	PART
cblr-2899	597	30	do	do	VERB
cblr-2899	597	31	so	so	ADV
cblr-2899	597	32	.	.	PUNCT
cblr-2899	598	1	additionally	additionally	ADV
cblr-2899	598	2	,	,	PUNCT
cblr-2899	598	3	the	the	DET
cblr-2899	598	4	united	united	PROPN
cblr-2899	598	5	states	states	PROPN
cblr-2899	598	6	,	,	PUNCT
cblr-2899	598	7	unlike	unlike	ADP
cblr-2899	598	8	the	the	DET
cblr-2899	598	9	eu	eu	PROPN
cblr-2899	598	10	,	,	PUNCT
cblr-2899	598	11	has	have	AUX
cblr-2899	598	12	prohibited	prohibit	VERB
cblr-2899	598	13	regulating	regulate	VERB
cblr-2899	598	14	the	the	DET
cblr-2899	598	15	substantive	substantive	ADJ
cblr-2899	598	16	methodologies	methodology	NOUN
cblr-2899	598	17	used	use	VERB
cblr-2899	598	18	by	by	ADP
cblr-2899	598	19	cras.171	cras.171	NOUN
cblr-2899	598	20	there	there	PRON
cblr-2899	598	21	is	be	VERB
cblr-2899	598	22	a	a	DET
cblr-2899	598	23	tension	tension	NOUN
cblr-2899	598	24	here	here	ADV
cblr-2899	598	25	,	,	PUNCT
cblr-2899	598	26	because	because	SCONJ
cblr-2899	598	27	in	in	ADP
cblr-2899	598	28	order	order	NOUN
cblr-2899	598	29	to	to	PART
cblr-2899	598	30	evaluate	evaluate	VERB
cblr-2899	598	31	and	and	CCONJ
cblr-2899	598	32	rank	rank	VERB
cblr-2899	598	33	the	the	DET
cblr-2899	598	34	cras	cras	PROPN
cblr-2899	598	35	performances	performance	NOUN
cblr-2899	598	36	,	,	PUNCT
cblr-2899	598	37	the	the	DET
cblr-2899	598	38	agency	agency	NOUN
cblr-2899	598	39	responsible	responsible	ADJ
cblr-2899	598	40	would	would	AUX
cblr-2899	598	41	need	need	VERB
cblr-2899	598	42	access	access	NOUN
cblr-2899	598	43	to	to	ADP
cblr-2899	598	44	the	the	DET
cblr-2899	598	45	cra	cra	PROPN
cblr-2899	598	46	methodologies	methodology	NOUN
cblr-2899	598	47	.	.	PUNCT
cblr-2899	599	1	this	this	PRON
cblr-2899	599	2	does	do	AUX
cblr-2899	599	3	not	not	PART
cblr-2899	599	4	necessarily	necessarily	ADV
cblr-2899	599	5	168	168	NUM
cblr-2899	599	6	see	see	VERB
cblr-2899	599	7	generally	generally	ADV
cblr-2899	599	8	becker	becker	PROPN
cblr-2899	599	9	&	&	CCONJ
cblr-2899	599	10	milbourn	milbourn	PROPN
cblr-2899	599	11	,	,	PUNCT
cblr-2899	599	12	supra	supra	PROPN
cblr-2899	599	13	note	note	NOUN
cblr-2899	599	14	12	12	NUM
cblr-2899	599	15	(	(	PUNCT
cblr-2899	599	16	empirical	empirical	ADJ
cblr-2899	599	17	study	study	NOUN
cblr-2899	599	18	showing	show	VERB
cblr-2899	599	19	that	that	SCONJ
cblr-2899	599	20	inflated	inflated	ADJ
cblr-2899	599	21	ratings	rating	NOUN
cblr-2899	599	22	peaked	peak	VERB
cblr-2899	599	23	as	as	SCONJ
cblr-2899	599	24	fitch	fitch	NOUN
cblr-2899	599	25	's	's	PART
cblr-2899	599	26	relative	relative	ADJ
cblr-2899	599	27	market	market	NOUN
cblr-2899	599	28	share	share	NOUN
cblr-2899	599	29	increased	increase	VERB
cblr-2899	599	30	and	and	CCONJ
cblr-2899	599	31	it	it	PRON
cblr-2899	599	32	became	become	VERB
cblr-2899	599	33	a	a	DET
cblr-2899	599	34	viable	viable	ADJ
cblr-2899	599	35	competitor	competitor	NOUN
cblr-2899	599	36	to	to	ADP
cblr-2899	599	37	s&p	s&p	PROPN
cblr-2899	599	38	and	and	CCONJ
cblr-2899	599	39	moody	moody	NOUN
cblr-2899	599	40	's	's	PART
cblr-2899	599	41	)	)	PUNCT
cblr-2899	599	42	.	.	PUNCT
cblr-2899	600	1	169	169	NUM
cblr-2899	600	2	credit	credit	NOUN
cblr-2899	600	3	rating	rating	NOUN
cblr-2899	600	4	standardization	standardization	NOUN
cblr-2899	600	5	study	study	NOUN
cblr-2899	600	6	,	,	PUNCT
cblr-2899	600	7	supra	supra	PROPN
cblr-2899	600	8	note	note	PROPN
cblr-2899	600	9	57	57	NUM
cblr-2899	600	10	,	,	PUNCT
cblr-2899	600	11	at	at	ADP
cblr-2899	600	12	7	7	NUM
cblr-2899	600	13	.	.	SYM
cblr-2899	600	14	170	170	NUM
cblr-2899	600	15	see	see	VERB
cblr-2899	600	16	sec	sec	PROPN
cblr-2899	600	17	annual	annual	ADJ
cblr-2899	600	18	report	report	NOUN
cblr-2899	600	19	,	,	PUNCT
cblr-2899	600	20	supra	supra	PROPN
cblr-2899	600	21	note	note	PROPN
cblr-2899	600	22	16	16	NUM
cblr-2899	600	23	,	,	PUNCT
cblr-2899	600	24	at	at	ADP
cblr-2899	600	25	18	18	NUM
cblr-2899	600	26	;	;	PUNCT
cblr-2899	600	27	17	17	NUM
cblr-2899	600	28	cfr	cfr	NOUN
cblr-2899	600	29	§	§	PROPN
cblr-2899	600	30	240.17g-5	240.17g-5	NUM
cblr-2899	600	31	(	(	PUNCT
cblr-2899	600	32	2012	2012	NUM
cblr-2899	600	33	)	)	PUNCT
cblr-2899	600	34	.	.	PUNCT
cblr-2899	601	1	171	171	NUM
cblr-2899	601	2	dodd	dodd	PROPN
cblr-2899	601	3	-	-	PUNCT
cblr-2899	601	4	frank	frank	PROPN
cblr-2899	601	5	does	do	AUX
cblr-2899	601	6	not	not	PART
cblr-2899	601	7	give	give	VERB
cblr-2899	601	8	the	the	DET
cblr-2899	601	9	sec	sec	PROPN
cblr-2899	601	10	any	any	DET
cblr-2899	601	11	power	power	NOUN
cblr-2899	601	12	to	to	PART
cblr-2899	601	13	regulate	regulate	VERB
cblr-2899	601	14	the	the	DET
cblr-2899	601	15	substantive	substantive	ADJ
cblr-2899	601	16	models	model	NOUN
cblr-2899	601	17	of	of	ADP
cblr-2899	601	18	cras	cras	X
cblr-2899	601	19	.	.	PUNCT
cblr-2899	602	1	see	see	VERB
cblr-2899	602	2	15	15	NUM
cblr-2899	602	3	u.s.c	u.s.c	ADJ
cblr-2899	602	4	.	.	PUNCT
cblr-2899	603	1	§	§	PROPN
cblr-2899	603	2	78o-7(c)(2)(2012	78o-7(c)(2)(2012	NUM
cblr-2899	603	3	)	)	PUNCT
cblr-2899	603	4	.	.	PUNCT
cblr-2899	604	1	by	by	ADP
cblr-2899	604	2	contrast	contrast	NOUN
cblr-2899	604	3	,	,	PUNCT
cblr-2899	604	4	the	the	DET
cblr-2899	604	5	european	european	ADJ
cblr-2899	604	6	proposal	proposal	NOUN
cblr-2899	604	7	states	state	VERB
cblr-2899	604	8	that	that	SCONJ
cblr-2899	604	9	"	"	PUNCT
cblr-2899	604	10	cras	cras	X
cblr-2899	604	11	should	should	AUX
cblr-2899	604	12	...	...	PUNCT
cblr-2899	604	13	submit	submit	VERB
cblr-2899	604	14	the	the	DET
cblr-2899	604	15	proposed	propose	VERB
cblr-2899	604	16	methodologies	methodology	NOUN
cblr-2899	604	17	to	to	ADP
cblr-2899	604	18	esmia	esmia	PROPN
cblr-2899	604	19	.	.	PUNCT
cblr-2899	604	20	.	.	PUNCT
cblr-2899	605	1	..	..	PUNCT
cblr-2899	606	1	the	the	DET
cblr-2899	606	2	new	new	ADJ
cblr-2899	606	3	methodologies	methodology	NOUN
cblr-2899	606	4	may	may	AUX
cblr-2899	606	5	only	only	ADV
cblr-2899	606	6	be	be	AUX
cblr-2899	606	7	used	use	VERB
cblr-2899	606	8	once	once	SCONJ
cblr-2899	606	9	they	they	PRON
cblr-2899	606	10	have	have	AUX
cblr-2899	606	11	been	be	AUX
cblr-2899	606	12	approved	approve	VERB
cblr-2899	606	13	by	by	ADP
cblr-2899	606	14	esma	esma	PROPN
cblr-2899	606	15	.	.	PUNCT
cblr-2899	606	16	"	"	PUNCT
cblr-2899	607	1	ec	ec	PROPN
cblr-2899	607	2	proposal	proposal	NOUN
cblr-2899	607	3	,	,	PUNCT
cblr-2899	607	4	supra	supra	PROPN
cblr-2899	607	5	note	note	PROPN
cblr-2899	607	6	82	82	NUM
cblr-2899	607	7	,	,	PUNCT
cblr-2899	607	8	at	at	ADP
cblr-2899	607	9	9	9	NUM
cblr-2899	607	10	.	.	NOUN
cblr-2899	607	11	1036	1036	NUM
cblr-2899	608	1	[	[	X
cblr-2899	608	2	vol	vol	NOUN
cblr-2899	608	3	.	.	PUNCT
cblr-2899	608	4	2012	2012	NUM
cblr-2899	608	5	mean	mean	VERB
cblr-2899	608	6	the	the	DET
cblr-2899	608	7	agency	agency	NOUN
cblr-2899	608	8	is	be	AUX
cblr-2899	608	9	advocating	advocate	VERB
cblr-2899	608	10	or	or	CCONJ
cblr-2899	608	11	discouraging	discourage	VERB
cblr-2899	608	12	the	the	DET
cblr-2899	608	13	use	use	NOUN
cblr-2899	608	14	of	of	ADP
cblr-2899	608	15	certain	certain	ADJ
cblr-2899	608	16	models	model	NOUN
cblr-2899	608	17	,	,	PUNCT
cblr-2899	608	18	but	but	CCONJ
cblr-2899	608	19	it	it	PRON
cblr-2899	608	20	may	may	AUX
cblr-2899	608	21	be	be	AUX
cblr-2899	608	22	viewed	view	VERB
cblr-2899	608	23	as	as	ADP
cblr-2899	608	24	coming	come	VERB
cblr-2899	608	25	dangerously	dangerously	ADV
cblr-2899	608	26	close	close	ADJ
cblr-2899	608	27	to	to	ADP
cblr-2899	608	28	outright	outright	ADJ
cblr-2899	608	29	regulation	regulation	NOUN
cblr-2899	608	30	of	of	ADP
cblr-2899	608	31	the	the	DET
cblr-2899	608	32	substantive	substantive	ADJ
cblr-2899	608	33	models	model	NOUN
cblr-2899	608	34	.	.	PUNCT
cblr-2899	609	1	there	there	PRON
cblr-2899	609	2	is	be	VERB
cblr-2899	609	3	also	also	ADV
cblr-2899	609	4	a	a	DET
cblr-2899	609	5	very	very	ADV
cblr-2899	609	6	potent	potent	ADJ
cblr-2899	609	7	danger	danger	NOUN
cblr-2899	609	8	that	that	SCONJ
cblr-2899	609	9	government	government	NOUN
cblr-2899	609	10	involvement	involvement	NOUN
cblr-2899	609	11	will	will	AUX
cblr-2899	609	12	be	be	AUX
cblr-2899	609	13	improperly	improperly	ADV
cblr-2899	609	14	understood	understand	VERB
cblr-2899	609	15	as	as	ADP
cblr-2899	609	16	government	government	NOUN
cblr-2899	609	17	endorsement	endorsement	NOUN
cblr-2899	609	18	of	of	ADP
cblr-2899	609	19	the	the	DET
cblr-2899	609	20	ratings	rating	NOUN
cblr-2899	609	21	,	,	PUNCT
cblr-2899	609	22	leading	lead	VERB
cblr-2899	609	23	to	to	ADP
cblr-2899	609	24	more	more	ADJ
cblr-2899	609	25	reliance	reliance	NOUN
cblr-2899	609	26	by	by	ADP
cblr-2899	609	27	investors	investor	NOUN
cblr-2899	609	28	and	and	CCONJ
cblr-2899	609	29	thus	thus	ADV
cblr-2899	609	30	less	less	ADV
cblr-2899	609	31	diligence	diligence	NOUN
cblr-2899	609	32	.	.	PUNCT
cblr-2899	610	1	another	another	DET
cblr-2899	610	2	weakness	weakness	NOUN
cblr-2899	610	3	present	present	ADJ
cblr-2899	610	4	whenever	whenever	SCONJ
cblr-2899	610	5	a	a	DET
cblr-2899	610	6	governmental	governmental	ADJ
cblr-2899	610	7	entity	entity	NOUN
cblr-2899	610	8	is	be	AUX
cblr-2899	610	9	involved	involve	VERB
cblr-2899	610	10	is	be	AUX
cblr-2899	610	11	the	the	DET
cblr-2899	610	12	danger	danger	NOUN
cblr-2899	610	13	of	of	ADP
cblr-2899	610	14	political	political	ADJ
cblr-2899	610	15	bias	bias	NOUN
cblr-2899	610	16	distorting	distort	VERB
cblr-2899	610	17	the	the	DET
cblr-2899	610	18	rankings	ranking	NOUN
cblr-2899	610	19	awarded	award	VERB
cblr-2899	610	20	to	to	ADP
cblr-2899	610	21	cras	cras	PROPN
cblr-2899	610	22	.	.	PUNCT
cblr-2899	611	1	a	a	DET
cblr-2899	611	2	possible	possible	ADJ
cblr-2899	611	3	(	(	PUNCT
cblr-2899	611	4	but	but	CCONJ
cblr-2899	611	5	perhaps	perhaps	ADV
cblr-2899	611	6	unrealistic	unrealistic	ADJ
cblr-2899	611	7	)	)	PUNCT
cblr-2899	611	8	idea	idea	NOUN
cblr-2899	611	9	to	to	PART
cblr-2899	611	10	help	help	VERB
cblr-2899	611	11	with	with	ADP
cblr-2899	611	12	this	this	DET
cblr-2899	611	13	problem	problem	NOUN
cblr-2899	611	14	could	could	AUX
cblr-2899	611	15	be	be	AUX
cblr-2899	611	16	the	the	DET
cblr-2899	611	17	creation	creation	NOUN
cblr-2899	611	18	of	of	ADP
cblr-2899	611	19	a	a	DET
cblr-2899	611	20	u.s.-based	u.s.-based	ADJ
cblr-2899	611	21	governmental	governmental	ADJ
cblr-2899	611	22	entity	entity	NOUN
cblr-2899	611	23	and	and	CCONJ
cblr-2899	611	24	a	a	DET
cblr-2899	611	25	eu	eu	NOUN
cblr-2899	611	26	-	-	PUNCT
cblr-2899	611	27	based	base	VERB
cblr-2899	611	28	governmental	governmental	ADJ
cblr-2899	611	29	entity	entity	NOUN
cblr-2899	611	30	,	,	PUNCT
cblr-2899	611	31	both	both	PRON
cblr-2899	611	32	of	of	ADP
cblr-2899	611	33	which	which	PRON
cblr-2899	611	34	would	would	AUX
cblr-2899	611	35	independently	independently	ADV
cblr-2899	611	36	rank	rank	VERB
cblr-2899	611	37	cras	cras	PROPN
cblr-2899	611	38	performances	performance	NOUN
cblr-2899	611	39	.	.	PUNCT
cblr-2899	612	1	the	the	DET
cblr-2899	612	2	two	two	NUM
cblr-2899	612	3	rankings	ranking	NOUN
cblr-2899	612	4	would	would	AUX
cblr-2899	612	5	provide	provide	VERB
cblr-2899	612	6	investors	investor	NOUN
cblr-2899	612	7	with	with	ADP
cblr-2899	612	8	a	a	DET
cblr-2899	612	9	means	means	NOUN
cblr-2899	612	10	to	to	PART
cblr-2899	612	11	compare	compare	VERB
cblr-2899	612	12	the	the	DET
cblr-2899	612	13	two	two	NUM
cblr-2899	612	14	judgments	judgment	NOUN
cblr-2899	612	15	,	,	PUNCT
cblr-2899	612	16	acting	act	VERB
cblr-2899	612	17	as	as	ADP
cblr-2899	612	18	a	a	DET
cblr-2899	612	19	partial	partial	ADJ
cblr-2899	612	20	check	check	NOUN
cblr-2899	612	21	on	on	ADP
cblr-2899	612	22	the	the	DET
cblr-2899	612	23	political	political	ADJ
cblr-2899	612	24	bias	bias	NOUN
cblr-2899	612	25	of	of	ADP
cblr-2899	612	26	either	either	DET
cblr-2899	612	27	entity	entity	NOUN
cblr-2899	612	28	.	.	PUNCT
cblr-2899	613	1	a	a	DET
cblr-2899	613	2	better	well	ADJ
cblr-2899	613	3	candidate	candidate	NOUN
cblr-2899	613	4	than	than	ADP
cblr-2899	613	5	the	the	DET
cblr-2899	613	6	government	government	NOUN
cblr-2899	613	7	for	for	ADP
cblr-2899	613	8	the	the	DET
cblr-2899	613	9	"	"	PUNCT
cblr-2899	613	10	rater	rater	NOUN
cblr-2899	613	11	of	of	ADP
cblr-2899	613	12	rating	rating	NOUN
cblr-2899	613	13	agencies	agency	NOUN
cblr-2899	613	14	"	"	PUNCT
cblr-2899	613	15	would	would	AUX
cblr-2899	613	16	be	be	AUX
cblr-2899	613	17	a	a	DET
cblr-2899	613	18	self	self	NOUN
cblr-2899	613	19	-	-	PUNCT
cblr-2899	613	20	regulatory	regulatory	ADJ
cblr-2899	613	21	organization	organization	NOUN
cblr-2899	613	22	.	.	PUNCT
cblr-2899	614	1	these	these	PRON
cblr-2899	614	2	are	be	AUX
cblr-2899	614	3	non	non	ADJ
cblr-2899	614	4	-	-	ADJ
cblr-2899	614	5	governmental	governmental	ADJ
cblr-2899	614	6	organizations	organization	NOUN
cblr-2899	614	7	that	that	PRON
cblr-2899	614	8	have	have	VERB
cblr-2899	614	9	the	the	DET
cblr-2899	614	10	statutory	statutory	ADJ
cblr-2899	614	11	authority	authority	NOUN
cblr-2899	614	12	to	to	PART
cblr-2899	614	13	create	create	VERB
cblr-2899	614	14	and	and	CCONJ
cblr-2899	614	15	enforce	enforce	VERB
cblr-2899	614	16	industry	industry	NOUN
cblr-2899	614	17	standards	standard	NOUN
cblr-2899	614	18	that	that	PRON
cblr-2899	614	19	have	have	VERB
cblr-2899	614	20	the	the	DET
cblr-2899	614	21	force	force	NOUN
cblr-2899	614	22	of	of	ADP
cblr-2899	614	23	law	law	NOUN
cblr-2899	614	24	.	.	PUNCT
cblr-2899	615	1	examples	example	NOUN
cblr-2899	615	2	of	of	ADP
cblr-2899	615	3	self	self	NOUN
cblr-2899	615	4	-	-	PUNCT
cblr-2899	615	5	regulatory	regulatory	ADJ
cblr-2899	615	6	organizations	organization	NOUN
cblr-2899	615	7	include	include	VERB
cblr-2899	615	8	stock	stock	NOUN
cblr-2899	615	9	exchanges	exchange	NOUN
cblr-2899	615	10	,	,	PUNCT
cblr-2899	615	11	the	the	DET
cblr-2899	615	12	financial	financial	ADJ
cblr-2899	615	13	industry	industry	NOUN
cblr-2899	615	14	regulatory	regulatory	ADJ
cblr-2899	615	15	authority	authority	NOUN
cblr-2899	615	16	(	(	PUNCT
cblr-2899	615	17	"	"	PUNCT
cblr-2899	615	18	finra	finra	NOUN
cblr-2899	615	19	"	"	PUNCT
cblr-2899	615	20	)	)	PUNCT
cblr-2899	615	21	,	,	PUNCT
cblr-2899	615	22	which	which	PRON
cblr-2899	615	23	enforces	enforce	VERB
cblr-2899	615	24	industry	industry	NOUN
cblr-2899	615	25	standards	standard	NOUN
cblr-2899	615	26	and	and	CCONJ
cblr-2899	615	27	requirements	requirement	NOUN
cblr-2899	615	28	related	relate	VERB
cblr-2899	615	29	to	to	ADP
cblr-2899	615	30	securities	security	NOUN
cblr-2899	615	31	brokerage	brokerage	NOUN
cblr-2899	615	32	and	and	CCONJ
cblr-2899	615	33	trading;17	trading;17	X
cblr-2899	615	34	2	2	NUM
cblr-2899	615	35	the	the	DET
cblr-2899	615	36	public	public	ADJ
cblr-2899	615	37	company	company	NOUN
cblr-2899	615	38	accounting	accounting	NOUN
cblr-2899	615	39	oversight	oversight	NOUN
cblr-2899	615	40	board	board	NOUN
cblr-2899	615	41	(	(	PUNCT
cblr-2899	615	42	"	"	PUNCT
cblr-2899	615	43	pcaob	pcaob	NOUN
cblr-2899	615	44	"	"	PUNCT
cblr-2899	615	45	)	)	PUNCT
cblr-2899	615	46	created	create	VERB
cblr-2899	615	47	by	by	ADP
cblr-2899	615	48	the	the	DET
cblr-2899	615	49	sarbanes	sarbanes	PROPN
cblr-2899	615	50	oxley	oxley	PROPN
cblr-2899	615	51	act	act	NOUN
cblr-2899	615	52	of	of	ADP
cblr-2899	615	53	2002	2002	NUM
cblr-2899	615	54	,	,	PUNCT
cblr-2899	615	55	which	which	PRON
cblr-2899	615	56	regulates	regulate	VERB
cblr-2899	615	57	and	and	CCONJ
cblr-2899	615	58	enforces	enforce	VERB
cblr-2899	615	59	authority	authority	NOUN
cblr-2899	615	60	over	over	ADP
cblr-2899	615	61	all	all	DET
cblr-2899	615	62	accounting	accounting	NOUN
cblr-2899	615	63	firms	firm	NOUN
cblr-2899	615	64	that	that	PRON
cblr-2899	615	65	audit	audit	VERB
cblr-2899	615	66	publicly	publicly	ADV
cblr-2899	615	67	traded	trade	VERB
cblr-2899	615	68	companies	company	NOUN
cblr-2899	615	69	;	;	PUNCT
cblr-2899	615	70	7	7	NUM
cblr-2899	615	71	3	3	NUM
cblr-2899	615	72	and	and	CCONJ
cblr-2899	615	73	the	the	DET
cblr-2899	615	74	municipal	municipal	ADJ
cblr-2899	615	75	securities	security	NOUN
cblr-2899	615	76	rulemaking	rulemaking	NOUN
cblr-2899	615	77	board	board	NOUN
cblr-2899	615	78	(	(	PUNCT
cblr-2899	615	79	"	"	PUNCT
cblr-2899	615	80	msrb	msrb	NOUN
cblr-2899	615	81	"	"	PUNCT
cblr-2899	615	82	)	)	PUNCT
cblr-2899	615	83	,	,	PUNCT
cblr-2899	615	84	granted	grant	VERB
cblr-2899	615	85	authority	authority	NOUN
cblr-2899	615	86	to	to	PART
cblr-2899	615	87	promulgate	promulgate	VERB
cblr-2899	615	88	rules	rule	NOUN
cblr-2899	615	89	governing	govern	VERB
cblr-2899	615	90	the	the	DET
cblr-2899	615	91	sale	sale	NOUN
cblr-2899	615	92	of	of	ADP
cblr-2899	615	93	municipal	municipal	ADJ
cblr-2899	615	94	securities	security	NOUN
cblr-2899	615	95	by	by	ADP
cblr-2899	615	96	broker	broker	NOUN
cblr-2899	615	97	-	-	PUNCT
cblr-2899	615	98	dealers	dealer	NOUN
cblr-2899	615	99	and	and	CCONJ
cblr-2899	615	100	municipal	municipal	ADJ
cblr-2899	615	101	securities	security	NOUN
cblr-2899	615	102	dealers	dealer	NOUN
cblr-2899	615	103	exempted	exempt	VERB
cblr-2899	615	104	from	from	ADP
cblr-2899	615	105	much	much	ADJ
cblr-2899	615	106	of	of	ADP
cblr-2899	615	107	the	the	DET
cblr-2899	615	108	federal	federal	ADJ
cblr-2899	615	109	securities	security	NOUN
cblr-2899	615	110	laws.174	laws.174	ADP
cblr-2899	615	111	172	172	NUM
cblr-2899	615	112	finra	finra	NOUN
cblr-2899	615	113	is	be	AUX
cblr-2899	615	114	a	a	DET
cblr-2899	615	115	self	self	NOUN
cblr-2899	615	116	-	-	PUNCT
cblr-2899	615	117	regulatory	regulatory	ADJ
cblr-2899	615	118	organization	organization	NOUN
cblr-2899	615	119	,	,	PUNCT
cblr-2899	615	120	all	all	DET
cblr-2899	615	121	securities	security	NOUN
cblr-2899	615	122	firms	firm	NOUN
cblr-2899	615	123	dealing	deal	VERB
cblr-2899	615	124	with	with	ADP
cblr-2899	615	125	the	the	DET
cblr-2899	615	126	public	public	NOUN
cblr-2899	615	127	must	must	AUX
cblr-2899	615	128	be	be	AUX
cblr-2899	615	129	members	member	NOUN
cblr-2899	615	130	.	.	PUNCT
cblr-2899	616	1	finra	finra	PROPN
cblr-2899	616	2	is	be	AUX
cblr-2899	616	3	registered	register	VERB
cblr-2899	616	4	with	with	ADP
cblr-2899	616	5	the	the	DET
cblr-2899	616	6	sec	sec	PROPN
cblr-2899	616	7	pursuant	pursuant	NOUN
cblr-2899	616	8	to	to	ADP
cblr-2899	616	9	the	the	DET
cblr-2899	616	10	maloney	maloney	PROPN
cblr-2899	616	11	act	act	NOUN
cblr-2899	616	12	of	of	ADP
cblr-2899	616	13	1938	1938	NUM
cblr-2899	616	14	.	.	PUNCT
cblr-2899	617	1	see	see	VERB
cblr-2899	617	2	15	15	NUM
cblr-2899	617	3	u.s.c	u.s.c	ADJ
cblr-2899	617	4	.	.	PUNCT
cblr-2899	618	1	§	§	PROPN
cblr-2899	618	2	78o-3	78o-3	NUM
cblr-2899	618	3	(	(	PUNCT
cblr-2899	618	4	2012	2012	NUM
cblr-2899	618	5	)	)	PUNCT
cblr-2899	618	6	.	.	PUNCT
cblr-2899	619	1	173	173	NUM
cblr-2899	619	2	see	see	VERB
cblr-2899	619	3	sarbanes	sarbanes	PROPN
cblr-2899	619	4	-	-	PUNCT
cblr-2899	619	5	oxley	oxley	ADJ
cblr-2899	619	6	act	act	NOUN
cblr-2899	619	7	§	§	PROPN
cblr-2899	619	8	101	101	NUM
cblr-2899	619	9	,	,	PUNCT
cblr-2899	619	10	15	15	NUM
cblr-2899	619	11	u.s.c	u.s.c	NOUN
cblr-2899	619	12	.	.	PUNCT
cblr-2899	620	1	§	§	PROPN
cblr-2899	620	2	7211	7211	NUM
cblr-2899	620	3	(	(	PUNCT
cblr-2899	620	4	2012	2012	NUM
cblr-2899	620	5	)	)	PUNCT
cblr-2899	620	6	.	.	PUNCT
cblr-2899	621	1	174	174	NUM
cblr-2899	621	2	see	see	VERB
cblr-2899	621	3	generally	generally	ADV
cblr-2899	621	4	securities	security	NOUN
cblr-2899	621	5	acts	act	VERB
cblr-2899	621	6	amendments	amendment	NOUN
cblr-2899	621	7	of	of	ADP
cblr-2899	621	8	1975	1975	NUM
cblr-2899	621	9	,	,	PUNCT
cblr-2899	621	10	pub	pub	NOUN
cblr-2899	621	11	.	.	PUNCT
cblr-2899	622	1	l.	l.	PROPN
cblr-2899	622	2	no	no	PROPN
cblr-2899	622	3	.	.	PROPN
cblr-2899	623	1	9429	9429	NUM
cblr-2899	623	2	,	,	PUNCT
cblr-2899	623	3	89	89	NUM
cblr-2899	623	4	stat	stat	NOUN
cblr-2899	623	5	.	.	PUNCT
cblr-2899	624	1	97	97	NUM
cblr-2899	624	2	(	(	PUNCT
cblr-2899	624	3	1975	1975	NUM
cblr-2899	624	4	)	)	PUNCT
cblr-2899	624	5	.	.	PUNCT
cblr-2899	625	1	no	no	INTJ
cblr-2899	625	2	.	.	NOUN
cblr-2899	626	1	3:994	3:994	NUM
cblr-2899	626	2	]	]	X
cblr-2899	626	3	reg	reg	PROPN
cblr-2899	626	4	ula	ula	PROPN
cblr-2899	626	5	ting	ting	PROPN
cblr-2899	626	6	credit	credit	NOUN
cblr-2899	626	7	rating	rating	NOUN
cblr-2899	626	8	agencies	agency	NOUN
cblr-2899	626	9	1037	1037	NUM
cblr-2899	626	10	if	if	SCONJ
cblr-2899	626	11	within	within	ADP
cblr-2899	626	12	its	its	PRON
cblr-2899	626	13	authority	authority	NOUN
cblr-2899	626	14	,	,	PUNCT
cblr-2899	626	15	the	the	DET
cblr-2899	626	16	sec	sec	PROPN
cblr-2899	626	17	could	could	AUX
cblr-2899	626	18	require	require	VERB
cblr-2899	626	19	finra	finra	PROPN
cblr-2899	626	20	to	to	PART
cblr-2899	626	21	expand	expand	VERB
cblr-2899	626	22	its	its	PRON
cblr-2899	626	23	responsibility	responsibility	NOUN
cblr-2899	626	24	and	and	CCONJ
cblr-2899	626	25	take	take	VERB
cblr-2899	626	26	on	on	ADP
cblr-2899	626	27	this	this	DET
cblr-2899	626	28	role	role	NOUN
cblr-2899	626	29	as	as	ADP
cblr-2899	626	30	a	a	DET
cblr-2899	626	31	"	"	PUNCT
cblr-2899	626	32	rater	rater	NOUN
cblr-2899	626	33	of	of	ADP
cblr-2899	626	34	rating	rating	NOUN
cblr-2899	626	35	agencies	agency	NOUN
cblr-2899	626	36	.	.	PUNCT
cblr-2899	626	37	"	"	PUNCT
cblr-2899	627	1	otherwise	otherwise	ADV
cblr-2899	627	2	,	,	PUNCT
cblr-2899	627	3	the	the	DET
cblr-2899	627	4	securities	security	NOUN
cblr-2899	627	5	acts	act	VERB
cblr-2899	627	6	(	(	PUNCT
cblr-2899	627	7	or	or	CCONJ
cblr-2899	627	8	other	other	ADJ
cblr-2899	627	9	legislation	legislation	NOUN
cblr-2899	627	10	)	)	PUNCT
cblr-2899	627	11	could	could	AUX
cblr-2899	627	12	be	be	AUX
cblr-2899	627	13	amended	amend	VERB
cblr-2899	627	14	to	to	PART
cblr-2899	627	15	mandate	mandate	VERB
cblr-2899	627	16	the	the	DET
cblr-2899	627	17	creation	creation	NOUN
cblr-2899	627	18	of	of	ADP
cblr-2899	627	19	an	an	DET
cblr-2899	627	20	independent	independent	ADJ
cblr-2899	627	21	body	body	NOUN
cblr-2899	627	22	that	that	PRON
cblr-2899	627	23	would	would	AUX
cblr-2899	627	24	synthesize	synthesize	VERB
cblr-2899	627	25	the	the	DET
cblr-2899	627	26	disclosure	disclosure	NOUN
cblr-2899	627	27	of	of	ADP
cblr-2899	627	28	rating	rating	NOUN
cblr-2899	627	29	agencies	agency	NOUN
cblr-2899	627	30	'	'	PART
cblr-2899	627	31	performance	performance	NOUN
cblr-2899	627	32	statistics	statistic	NOUN
cblr-2899	627	33	by	by	ADP
cblr-2899	627	34	creating	create	VERB
cblr-2899	627	35	a	a	DET
cblr-2899	627	36	ranking	ranking	NOUN
cblr-2899	627	37	of	of	ADP
cblr-2899	627	38	rating	rating	NOUN
cblr-2899	627	39	agencies	agency	NOUN
cblr-2899	627	40	.	.	PUNCT
cblr-2899	628	1	a	a	DET
cblr-2899	628	2	respected	respected	ADJ
cblr-2899	628	3	and	and	CCONJ
cblr-2899	628	4	independent	independent	ADJ
cblr-2899	628	5	selfregulatory	selfregulatory	ADJ
cblr-2899	628	6	organization	organization	NOUN
cblr-2899	628	7	would	would	AUX
cblr-2899	628	8	mitigate	mitigate	VERB
cblr-2899	628	9	the	the	DET
cblr-2899	628	10	problems	problem	NOUN
cblr-2899	628	11	of	of	ADP
cblr-2899	628	12	implicit	implicit	ADJ
cblr-2899	628	13	government	government	NOUN
cblr-2899	628	14	endorsement	endorsement	NOUN
cblr-2899	628	15	of	of	ADP
cblr-2899	628	16	ratings	rating	NOUN
cblr-2899	628	17	and	and	CCONJ
cblr-2899	628	18	also	also	ADV
cblr-2899	628	19	mitigate	mitigate	VERB
cblr-2899	628	20	the	the	DET
cblr-2899	628	21	issue	issue	NOUN
cblr-2899	628	22	of	of	ADP
cblr-2899	628	23	politically	politically	ADV
cblr-2899	628	24	biased	biased	ADJ
cblr-2899	628	25	or	or	CCONJ
cblr-2899	628	26	motivated	motivated	ADJ
cblr-2899	628	27	rankings	ranking	NOUN
cblr-2899	628	28	.	.	PUNCT
cblr-2899	629	1	this	this	DET
cblr-2899	629	2	organization	organization	NOUN
cblr-2899	629	3	could	could	AUX
cblr-2899	629	4	help	help	VERB
cblr-2899	629	5	promulgate	promulgate	VERB
cblr-2899	629	6	non	non	ADJ
cblr-2899	629	7	-	-	ADJ
cblr-2899	629	8	binding	binding	ADJ
cblr-2899	629	9	standards	standard	NOUN
cblr-2899	629	10	of	of	ADP
cblr-2899	629	11	performance	performance	NOUN
cblr-2899	629	12	for	for	ADP
cblr-2899	629	13	the	the	DET
cblr-2899	629	14	industry	industry	NOUN
cblr-2899	629	15	and	and	CCONJ
cblr-2899	629	16	be	be	AUX
cblr-2899	629	17	involved	involve	VERB
cblr-2899	629	18	in	in	ADP
cblr-2899	629	19	disciplinary	disciplinary	ADJ
cblr-2899	629	20	actions	action	NOUN
cblr-2899	629	21	that	that	PRON
cblr-2899	629	22	would	would	AUX
cblr-2899	629	23	parallel	parallel	VERB
cblr-2899	629	24	the	the	DET
cblr-2899	629	25	enhanced	enhanced	ADJ
cblr-2899	629	26	doddfrank	doddfrank	NOUN
cblr-2899	629	27	liability	liability	NOUN
cblr-2899	629	28	cras	cra	NOUN
cblr-2899	629	29	now	now	ADV
cblr-2899	629	30	face	face	VERB
cblr-2899	629	31	.	.	PUNCT
cblr-2899	630	1	to	to	PART
cblr-2899	630	2	fund	fund	VERB
cblr-2899	630	3	such	such	DET
cblr-2899	630	4	an	an	DET
cblr-2899	630	5	enterprise	enterprise	NOUN
cblr-2899	630	6	,	,	PUNCT
cblr-2899	630	7	fees	fee	NOUN
cblr-2899	630	8	could	could	AUX
cblr-2899	630	9	be	be	AUX
cblr-2899	630	10	charged	charge	VERB
cblr-2899	630	11	to	to	PART
cblr-2899	630	12	view	view	VERB
cblr-2899	630	13	and	and	CCONJ
cblr-2899	630	14	access	access	VERB
cblr-2899	630	15	the	the	DET
cblr-2899	630	16	published	publish	VERB
cblr-2899	630	17	rankings	ranking	NOUN
cblr-2899	630	18	of	of	ADP
cblr-2899	630	19	the	the	DET
cblr-2899	630	20	cras	cra	NOUN
cblr-2899	630	21	created	create	VERB
cblr-2899	630	22	by	by	ADP
cblr-2899	630	23	the	the	DET
cblr-2899	630	24	self	self	NOUN
cblr-2899	630	25	-	-	PUNCT
cblr-2899	630	26	regulatory	regulatory	ADJ
cblr-2899	630	27	organization	organization	NOUN
cblr-2899	630	28	.	.	PUNCT
cblr-2899	631	1	additionally	additionally	ADV
cblr-2899	631	2	,	,	PUNCT
cblr-2899	631	3	part	part	NOUN
cblr-2899	631	4	of	of	ADP
cblr-2899	631	5	the	the	DET
cblr-2899	631	6	sec	sec	PROPN
cblr-2899	631	7	registration	registration	NOUN
cblr-2899	631	8	fee	fee	NOUN
cblr-2899	631	9	charged	charge	VERB
cblr-2899	631	10	to	to	ADP
cblr-2899	631	11	debt	debt	NOUN
cblr-2899	631	12	issuers	issuer	NOUN
cblr-2899	631	13	in	in	ADP
cblr-2899	631	14	public	public	ADJ
cblr-2899	631	15	offerings	offering	NOUN
cblr-2899	631	16	could	could	AUX
cblr-2899	631	17	be	be	AUX
cblr-2899	631	18	used	use	VERB
cblr-2899	631	19	to	to	PART
cblr-2899	631	20	help	help	VERB
cblr-2899	631	21	fund	fund	VERB
cblr-2899	631	22	the	the	DET
cblr-2899	631	23	self	self	NOUN
cblr-2899	631	24	-	-	PUNCT
cblr-2899	631	25	regulatory	regulatory	ADJ
cblr-2899	631	26	organization	organization	NOUN
cblr-2899	631	27	.	.	PUNCT
cblr-2899	632	1	if	if	SCONJ
cblr-2899	632	2	this	this	DET
cblr-2899	632	3	organization	organization	NOUN
cblr-2899	632	4	is	be	AUX
cblr-2899	632	5	set	set	VERB
cblr-2899	632	6	up	up	ADP
cblr-2899	632	7	like	like	ADP
cblr-2899	632	8	finra	finra	NOUN
cblr-2899	632	9	,	,	PUNCT
cblr-2899	632	10	then	then	ADV
cblr-2899	632	11	cras	cras	PROPN
cblr-2899	632	12	would	would	AUX
cblr-2899	632	13	have	have	VERB
cblr-2899	632	14	to	to	PART
cblr-2899	632	15	either	either	CCONJ
cblr-2899	632	16	become	become	VERB
cblr-2899	632	17	members	member	NOUN
cblr-2899	632	18	of	of	ADP
cblr-2899	632	19	the	the	DET
cblr-2899	632	20	organization	organization	NOUN
cblr-2899	632	21	or	or	CCONJ
cblr-2899	632	22	agree	agree	VERB
cblr-2899	632	23	to	to	PART
cblr-2899	632	24	act	act	VERB
cblr-2899	632	25	in	in	ADP
cblr-2899	632	26	compliance	compliance	NOUN
cblr-2899	632	27	with	with	ADP
cblr-2899	632	28	the	the	DET
cblr-2899	632	29	promulgated	promulgate	VERB
cblr-2899	632	30	rules	rule	NOUN
cblr-2899	632	31	before	before	ADP
cblr-2899	632	32	being	be	AUX
cblr-2899	632	33	able	able	ADJ
cblr-2899	632	34	to	to	PART
cblr-2899	632	35	provide	provide	VERB
cblr-2899	632	36	public	public	ADJ
cblr-2899	632	37	ratings	rating	NOUN
cblr-2899	632	38	.	.	PUNCT
cblr-2899	633	1	however	however	ADV
cblr-2899	633	2	,	,	PUNCT
cblr-2899	633	3	this	this	PRON
cblr-2899	633	4	raises	raise	VERB
cblr-2899	633	5	a	a	DET
cblr-2899	633	6	potential	potential	ADJ
cblr-2899	633	7	first	first	ADJ
cblr-2899	633	8	amendment	amendment	NOUN
cblr-2899	633	9	issue	issue	NOUN
cblr-2899	633	10	:	:	PUNCT
cblr-2899	633	11	can	can	AUX
cblr-2899	633	12	cras	cras	PROPN
cblr-2899	633	13	be	be	AUX
cblr-2899	633	14	barred	bar	VERB
cblr-2899	633	15	from	from	ADP
cblr-2899	633	16	providing	provide	VERB
cblr-2899	633	17	"	"	PUNCT
cblr-2899	633	18	opinions	opinion	NOUN
cblr-2899	633	19	"	"	PUNCT
cblr-2899	633	20	about	about	ADP
cblr-2899	633	21	credit	credit	NOUN
cblr-2899	633	22	risk	risk	NOUN
cblr-2899	633	23	if	if	SCONJ
cblr-2899	633	24	they	they	PRON
cblr-2899	633	25	do	do	AUX
cblr-2899	633	26	not	not	PART
cblr-2899	633	27	comply	comply	VERB
cblr-2899	633	28	with	with	ADP
cblr-2899	633	29	the	the	DET
cblr-2899	633	30	relevant	relevant	ADJ
cblr-2899	633	31	rules	rule	NOUN
cblr-2899	633	32	?	?	PUNCT
cblr-2899	634	1	this	this	PRON
cblr-2899	634	2	could	could	AUX
cblr-2899	634	3	be	be	AUX
cblr-2899	634	4	especially	especially	ADV
cblr-2899	634	5	problematic	problematic	ADJ
cblr-2899	634	6	in	in	ADP
cblr-2899	634	7	the	the	DET
cblr-2899	634	8	case	case	NOUN
cblr-2899	634	9	of	of	ADP
cblr-2899	634	10	unsolicited	unsolicited	ADJ
cblr-2899	634	11	ratings	rating	NOUN
cblr-2899	634	12	,	,	PUNCT
cblr-2899	634	13	such	such	ADJ
cblr-2899	634	14	as	as	ADP
cblr-2899	634	15	those	those	DET
cblr-2899	634	16	rating	rating	NOUN
cblr-2899	634	17	sovereign	sovereign	ADJ
cblr-2899	634	18	debt	debt	NOUN
cblr-2899	634	19	.	.	PUNCT
cblr-2899	635	1	first	first	ADJ
cblr-2899	635	2	amendment	amendment	NOUN
cblr-2899	635	3	concerns	concern	NOUN
cblr-2899	635	4	would	would	AUX
cblr-2899	635	5	thus	thus	ADV
cblr-2899	635	6	be	be	AUX
cblr-2899	635	7	a	a	DET
cblr-2899	635	8	significant	significant	ADJ
cblr-2899	635	9	obstacle	obstacle	NOUN
cblr-2899	635	10	to	to	ADP
cblr-2899	635	11	regulating	regulate	VERB
cblr-2899	635	12	cras	cra	NOUN
cblr-2899	635	13	in	in	ADP
cblr-2899	635	14	this	this	DET
cblr-2899	635	15	manner	manner	NOUN
cblr-2899	635	16	.	.	PUNCT
cblr-2899	636	1	however	however	ADV
cblr-2899	636	2	,	,	PUNCT
cblr-2899	636	3	even	even	ADV
cblr-2899	636	4	if	if	SCONJ
cblr-2899	636	5	they	they	PRON
cblr-2899	636	6	can	can	AUX
cblr-2899	636	7	not	not	PART
cblr-2899	636	8	be	be	AUX
cblr-2899	636	9	barred	bar	VERB
cblr-2899	636	10	from	from	ADP
cblr-2899	636	11	providing	provide	VERB
cblr-2899	636	12	their	their	PRON
cblr-2899	636	13	"	"	PUNCT
cblr-2899	636	14	opinions	opinion	NOUN
cblr-2899	636	15	,	,	PUNCT
cblr-2899	636	16	"	"	PUNCT
cblr-2899	636	17	at	at	ADP
cblr-2899	636	18	the	the	DET
cblr-2899	636	19	very	very	ADV
cblr-2899	636	20	least	least	ADJ
cblr-2899	636	21	cras	cras	PROPN
cblr-2899	636	22	could	could	AUX
cblr-2899	636	23	be	be	AUX
cblr-2899	636	24	barred	bar	VERB
cblr-2899	636	25	from	from	ADP
cblr-2899	636	26	receiving	receive	VERB
cblr-2899	636	27	nrsro	nrsro	ADJ
cblr-2899	636	28	rating	rating	NOUN
cblr-2899	636	29	status	status	NOUN
cblr-2899	636	30	if	if	SCONJ
cblr-2899	636	31	such	such	DET
cblr-2899	636	32	a	a	DET
cblr-2899	636	33	status	status	NOUN
cblr-2899	636	34	is	be	AUX
cblr-2899	636	35	conditioned	condition	VERB
cblr-2899	636	36	on	on	ADP
cblr-2899	636	37	membership	membership	NOUN
cblr-2899	636	38	in	in	ADP
cblr-2899	636	39	the	the	DET
cblr-2899	636	40	self	self	NOUN
cblr-2899	636	41	-	-	PUNCT
cblr-2899	636	42	regulatory	regulatory	ADJ
cblr-2899	636	43	organization	organization	NOUN
cblr-2899	636	44	and	and	CCONJ
cblr-2899	636	45	compliance	compliance	NOUN
cblr-2899	636	46	with	with	ADP
cblr-2899	636	47	its	its	PRON
cblr-2899	636	48	rules	rule	NOUN
cblr-2899	636	49	.	.	PUNCT
cblr-2899	637	1	therefore	therefore	ADV
cblr-2899	637	2	,	,	PUNCT
cblr-2899	637	3	in	in	ADP
cblr-2899	637	4	order	order	NOUN
cblr-2899	637	5	to	to	PART
cblr-2899	637	6	control	control	VERB
cblr-2899	637	7	cras	cras	PROPN
cblr-2899	637	8	,	,	PUNCT
cblr-2899	637	9	it	it	PRON
cblr-2899	637	10	will	will	AUX
cblr-2899	637	11	be	be	AUX
cblr-2899	637	12	important	important	ADJ
cblr-2899	637	13	to	to	PART
cblr-2899	637	14	maintain	maintain	VERB
cblr-2899	637	15	the	the	DET
cblr-2899	637	16	nrsro	nrsro	ADJ
cblr-2899	637	17	status	status	NOUN
cblr-2899	637	18	and	and	CCONJ
cblr-2899	637	19	continue	continue	VERB
cblr-2899	637	20	to	to	PART
cblr-2899	637	21	make	make	VERB
cblr-2899	637	22	it	it	PRON
cblr-2899	637	23	valuable	valuable	ADJ
cblr-2899	637	24	to	to	ADP
cblr-2899	637	25	cras	cras	X
cblr-2899	637	26	.	.	PUNCT
cblr-2899	638	1	consideration	consideration	NOUN
cblr-2899	638	2	should	should	AUX
cblr-2899	638	3	be	be	AUX
cblr-2899	638	4	given	give	VERB
cblr-2899	638	5	to	to	ADP
cblr-2899	638	6	whether	whether	SCONJ
cblr-2899	638	7	cras	cras	X
cblr-2899	638	8	should	should	AUX
cblr-2899	638	9	have	have	AUX
cblr-2899	638	10	the	the	DET
cblr-2899	638	11	opportunity	opportunity	NOUN
cblr-2899	638	12	to	to	PART
cblr-2899	638	13	challenge	challenge	VERB
cblr-2899	638	14	the	the	DET
cblr-2899	638	15	ranking	ranking	NOUN
cblr-2899	638	16	given	give	VERB
cblr-2899	638	17	to	to	ADP
cblr-2899	638	18	them	they	PRON
cblr-2899	638	19	by	by	ADP
cblr-2899	638	20	the	the	DET
cblr-2899	638	21	"	"	PUNCT
cblr-2899	638	22	rater	rater	NOUN
cblr-2899	638	23	of	of	ADP
cblr-2899	638	24	rating	rating	NOUN
cblr-2899	638	25	agencies	agency	NOUN
cblr-2899	638	26	.	.	PUNCT
cblr-2899	638	27	"	"	PUNCT
cblr-2899	639	1	if	if	SCONJ
cblr-2899	639	2	the	the	DET
cblr-2899	639	3	self	self	NOUN
cblr-2899	639	4	-	-	PUNCT
cblr-2899	639	5	regulatory	regulatory	ADJ
cblr-2899	639	6	col	col	NOUN
cblr-2899	639	7	umia	umia	NOUN
cblr-2899	639	8	b	b	PROPN
cblr-2899	639	9	usiness	usiness	PROPN
cblr-2899	639	10	la	la	PROPN
cblr-2899	639	11	w	w	PROPN
cblr-2899	639	12	re	re	PROPN
cblr-2899	639	13	vie	vie	PROPN
cblr-2899	639	14	w	w	PROPN
cblr-2899	640	1	[	[	X
cblr-2899	640	2	vol	vol	NOUN
cblr-2899	640	3	.	.	NOUN
cblr-2899	640	4	20121038	20121038	NUM
cblr-2899	640	5	regulating	regulate	VERB
cblr-2899	640	6	credit	credit	NOUN
cblr-2899	640	7	rating	rating	NOUN
cblr-2899	640	8	agencies	agency	NOUN
cblr-2899	640	9	organization	organization	NOUN
cblr-2899	640	10	is	be	AUX
cblr-2899	640	11	the	the	DET
cblr-2899	640	12	body	body	NOUN
cblr-2899	640	13	that	that	PRON
cblr-2899	640	14	creates	create	VERB
cblr-2899	640	15	the	the	DET
cblr-2899	640	16	rankings	ranking	NOUN
cblr-2899	640	17	,	,	PUNCT
cblr-2899	640	18	an	an	DET
cblr-2899	640	19	appeal	appeal	NOUN
cblr-2899	640	20	to	to	ADP
cblr-2899	640	21	the	the	DET
cblr-2899	640	22	sec	sec	PROPN
cblr-2899	640	23	could	could	AUX
cblr-2899	640	24	be	be	AUX
cblr-2899	640	25	an	an	DET
cblr-2899	640	26	option	option	NOUN
cblr-2899	640	27	,	,	PUNCT
cblr-2899	640	28	and	and	CCONJ
cblr-2899	640	29	a	a	DET
cblr-2899	640	30	ranking	ranking	ADJ
cblr-2899	640	31	decision	decision	NOUN
cblr-2899	640	32	could	could	AUX
cblr-2899	640	33	be	be	AUX
cblr-2899	640	34	reviewed	review	VERB
cblr-2899	640	35	under	under	ADP
cblr-2899	640	36	an	an	DET
cblr-2899	640	37	"	"	PUNCT
cblr-2899	640	38	arbitrary	arbitrary	ADJ
cblr-2899	640	39	and	and	CCONJ
cblr-2899	640	40	capricious	capricious	ADJ
cblr-2899	640	41	"	"	PUNCT
cblr-2899	640	42	standard	standard	NOUN
cblr-2899	640	43	.	.	PUNCT
cblr-2899	641	1	rules	rule	NOUN
cblr-2899	641	2	would	would	AUX
cblr-2899	641	3	then	then	ADV
cblr-2899	641	4	need	need	VERB
cblr-2899	641	5	to	to	PART
cblr-2899	641	6	be	be	AUX
cblr-2899	641	7	developed	develop	VERB
cblr-2899	641	8	to	to	PART
cblr-2899	641	9	govern	govern	VERB
cblr-2899	641	10	what	what	PRON
cblr-2899	641	11	happens	happen	VERB
cblr-2899	641	12	to	to	ADP
cblr-2899	641	13	the	the	DET
cblr-2899	641	14	contested	contest	VERB
cblr-2899	641	15	ranking	ranking	NOUN
cblr-2899	641	16	until	until	SCONJ
cblr-2899	641	17	the	the	DET
cblr-2899	641	18	challenge	challenge	NOUN
cblr-2899	641	19	is	be	AUX
cblr-2899	641	20	resolved	resolve	VERB
cblr-2899	641	21	.	.	PUNCT
cblr-2899	642	1	if	if	SCONJ
cblr-2899	642	2	this	this	DET
cblr-2899	642	3	proposal	proposal	NOUN
cblr-2899	642	4	is	be	AUX
cblr-2899	642	5	accepted	accept	VERB
cblr-2899	642	6	,	,	PUNCT
cblr-2899	642	7	it	it	PRON
cblr-2899	642	8	will	will	AUX
cblr-2899	642	9	be	be	AUX
cblr-2899	642	10	very	very	ADV
cblr-2899	642	11	important	important	ADJ
cblr-2899	642	12	to	to	PART
cblr-2899	642	13	emphasize	emphasize	VERB
cblr-2899	642	14	to	to	ADP
cblr-2899	642	15	the	the	DET
cblr-2899	642	16	investing	invest	VERB
cblr-2899	642	17	public	public	NOUN
cblr-2899	642	18	that	that	SCONJ
cblr-2899	642	19	by	by	ADP
cblr-2899	642	20	ranking	rank	VERB
cblr-2899	642	21	a	a	DET
cblr-2899	642	22	cra	cra	PROPN
cblr-2899	642	23	high	high	ADJ
cblr-2899	642	24	on	on	ADP
cblr-2899	642	25	its	its	PRON
cblr-2899	642	26	list	list	NOUN
cblr-2899	642	27	,	,	PUNCT
cblr-2899	642	28	the	the	DET
cblr-2899	642	29	government	government	NOUN
cblr-2899	642	30	or	or	CCONJ
cblr-2899	642	31	the	the	DET
cblr-2899	642	32	self	self	NOUN
cblr-2899	642	33	-	-	PUNCT
cblr-2899	642	34	regulatory	regulatory	ADJ
cblr-2899	642	35	organization	organization	NOUN
cblr-2899	642	36	is	be	AUX
cblr-2899	642	37	not	not	PART
cblr-2899	642	38	endorsing	endorse	VERB
cblr-2899	642	39	this	this	DET
cblr-2899	642	40	cra	cra	PROPN
cblr-2899	642	41	's	's	PART
cblr-2899	642	42	rating	rating	NOUN
cblr-2899	642	43	or	or	CCONJ
cblr-2899	642	44	ensuring	ensure	VERB
cblr-2899	642	45	its	its	PRON
cblr-2899	642	46	accuracy	accuracy	NOUN
cblr-2899	642	47	;	;	PUNCT
cblr-2899	642	48	it	it	PRON
cblr-2899	642	49	is	be	AUX
cblr-2899	642	50	merely	merely	ADV
cblr-2899	642	51	synthesizing	synthesize	VERB
cblr-2899	642	52	information	information	NOUN
cblr-2899	642	53	.	.	PUNCT
cblr-2899	643	1	investors	investor	NOUN
cblr-2899	643	2	should	should	AUX
cblr-2899	643	3	not	not	PART
cblr-2899	643	4	blindly	blindly	ADV
cblr-2899	643	5	rely	rely	VERB
cblr-2899	643	6	on	on	ADP
cblr-2899	643	7	any	any	DET
cblr-2899	643	8	credit	credit	NOUN
cblr-2899	643	9	ratings	rating	NOUN
cblr-2899	643	10	and	and	CCONJ
cblr-2899	643	11	should	should	AUX
cblr-2899	643	12	always	always	ADV
cblr-2899	643	13	do	do	VERB
cblr-2899	643	14	their	their	PRON
cblr-2899	643	15	own	own	ADJ
cblr-2899	643	16	risk	risk	NOUN
cblr-2899	643	17	analysis	analysis	NOUN
cblr-2899	643	18	to	to	ADP
cblr-2899	643	19	the	the	DET
cblr-2899	643	20	greatest	great	ADJ
cblr-2899	643	21	extent	extent	NOUN
cblr-2899	643	22	possible	possible	ADJ
cblr-2899	643	23	.	.	PUNCT
cblr-2899	644	1	c.	c.	NOUN
cblr-2899	644	2	purchase	purchase	NOUN
cblr-2899	644	3	of	of	ADP
cblr-2899	644	4	an	an	DET
cblr-2899	644	5	additional	additional	ADJ
cblr-2899	644	6	rating	rating	NOUN
cblr-2899	644	7	when	when	SCONJ
cblr-2899	644	8	hiring	hire	VERB
cblr-2899	644	9	a	a	DET
cblr-2899	644	10	low	low	ADJ
cblr-2899	644	11	performing	perform	VERB
cblr-2899	644	12	cra	cra	NOUN
cblr-2899	644	13	the	the	DET
cblr-2899	644	14	final	final	ADJ
cblr-2899	644	15	step	step	NOUN
cblr-2899	644	16	of	of	ADP
cblr-2899	644	17	this	this	DET
cblr-2899	644	18	proposal	proposal	NOUN
cblr-2899	644	19	is	be	AUX
cblr-2899	644	20	essentially	essentially	ADV
cblr-2899	644	21	a	a	DET
cblr-2899	644	22	"	"	PUNCT
cblr-2899	644	23	belt	belt	NOUN
cblr-2899	644	24	and	and	CCONJ
cblr-2899	644	25	suspenders	suspender	NOUN
cblr-2899	644	26	"	"	PUNCT
cblr-2899	644	27	provision	provision	NOUN
cblr-2899	644	28	in	in	ADP
cblr-2899	644	29	case	case	NOUN
cblr-2899	644	30	the	the	DET
cblr-2899	644	31	first	first	ADJ
cblr-2899	644	32	two	two	NUM
cblr-2899	644	33	steps	step	NOUN
cblr-2899	644	34	do	do	AUX
cblr-2899	644	35	not	not	PART
cblr-2899	644	36	lead	lead	VERB
cblr-2899	644	37	to	to	ADP
cblr-2899	644	38	a	a	DET
cblr-2899	644	39	market	market	NOUN
cblr-2899	644	40	that	that	PRON
cblr-2899	644	41	sufficiently	sufficiently	ADV
cblr-2899	644	42	penalizes	penalize	VERB
cblr-2899	644	43	inaccuracy	inaccuracy	NOUN
cblr-2899	644	44	.	.	PUNCT
cblr-2899	645	1	where	where	SCONJ
cblr-2899	645	2	a	a	DET
cblr-2899	645	3	cra	cra	PROPN
cblr-2899	645	4	's	's	PART
cblr-2899	645	5	credit	credit	NOUN
cblr-2899	645	6	rating	rating	NOUN
cblr-2899	645	7	later	later	ADV
cblr-2899	645	8	proves	prove	VERB
cblr-2899	645	9	to	to	PART
cblr-2899	645	10	be	be	AUX
cblr-2899	645	11	below	below	ADP
cblr-2899	645	12	an	an	DET
cblr-2899	645	13	acceptable	acceptable	ADJ
cblr-2899	645	14	level	level	NOUN
cblr-2899	645	15	of	of	ADP
cblr-2899	645	16	accuracy	accuracy	NOUN
cblr-2899	645	17	,	,	PUNCT
cblr-2899	645	18	it	it	PRON
cblr-2899	645	19	will	will	AUX
cblr-2899	645	20	be	be	AUX
cblr-2899	645	21	designated	designate	VERB
cblr-2899	645	22	as	as	ADP
cblr-2899	645	23	"	"	PUNCT
cblr-2899	645	24	low	low	ADV
cblr-2899	645	25	-	-	PUNCT
cblr-2899	645	26	performing	perform	VERB
cblr-2899	645	27	"	"	PUNCT
cblr-2899	645	28	by	by	ADP
cblr-2899	645	29	the	the	DET
cblr-2899	645	30	governmental	governmental	ADJ
cblr-2899	645	31	agency	agency	NOUN
cblr-2899	645	32	or	or	CCONJ
cblr-2899	645	33	self	self	NOUN
cblr-2899	645	34	-	-	PUNCT
cblr-2899	645	35	regulatory	regulatory	ADJ
cblr-2899	645	36	organization	organization	NOUN
cblr-2899	645	37	for	for	ADP
cblr-2899	645	38	that	that	DET
cblr-2899	645	39	particular	particular	ADJ
cblr-2899	645	40	asset	asset	NOUN
cblr-2899	645	41	class	class	NOUN
cblr-2899	645	42	.	.	PUNCT
cblr-2899	646	1	this	this	DET
cblr-2899	646	2	designation	designation	NOUN
cblr-2899	646	3	will	will	AUX
cblr-2899	646	4	apply	apply	VERB
cblr-2899	646	5	until	until	SCONJ
cblr-2899	646	6	the	the	DET
cblr-2899	646	7	particular	particular	ADJ
cblr-2899	646	8	agency	agency	NOUN
cblr-2899	646	9	's	's	PART
cblr-2899	646	10	rating	rating	NOUN
cblr-2899	646	11	has	have	AUX
cblr-2899	646	12	returned	return	VERB
cblr-2899	646	13	to	to	ADP
cblr-2899	646	14	acceptable	acceptable	ADJ
cblr-2899	646	15	levels	level	NOUN
cblr-2899	646	16	of	of	ADP
cblr-2899	646	17	accuracy	accuracy	NOUN
cblr-2899	646	18	.	.	PUNCT
cblr-2899	647	1	the	the	DET
cblr-2899	647	2	requirement	requirement	NOUN
cblr-2899	647	3	that	that	PRON
cblr-2899	647	4	will	will	AUX
cblr-2899	647	5	be	be	AUX
cblr-2899	647	6	imposed	impose	VERB
cblr-2899	647	7	as	as	ADP
cblr-2899	647	8	a	a	DET
cblr-2899	647	9	result	result	NOUN
cblr-2899	647	10	of	of	ADP
cblr-2899	647	11	the	the	DET
cblr-2899	647	12	"	"	PUNCT
cblr-2899	647	13	low	low	ADV
cblr-2899	647	14	-	-	PUNCT
cblr-2899	647	15	performing	perform	VERB
cblr-2899	647	16	"	"	PUNCT
cblr-2899	647	17	designation	designation	NOUN
cblr-2899	647	18	for	for	ADP
cblr-2899	647	19	a	a	DET
cblr-2899	647	20	particular	particular	ADJ
cblr-2899	647	21	asset	asset	NOUN
cblr-2899	647	22	class	class	NOUN
cblr-2899	647	23	,	,	PUNCT
cblr-2899	647	24	is	be	AUX
cblr-2899	647	25	that	that	SCONJ
cblr-2899	647	26	any	any	DET
cblr-2899	647	27	issuer	issuer	NOUN
cblr-2899	647	28	hiring	hire	VERB
cblr-2899	647	29	such	such	DET
cblr-2899	647	30	a	a	DET
cblr-2899	647	31	rating	rating	NOUN
cblr-2899	647	32	agency	agency	NOUN
cblr-2899	647	33	must	must	AUX
cblr-2899	647	34	purchase	purchase	VERB
cblr-2899	647	35	an	an	DET
cblr-2899	647	36	additional	additional	ADJ
cblr-2899	647	37	rating	rating	NOUN
cblr-2899	647	38	from	from	ADP
cblr-2899	647	39	a	a	DET
cblr-2899	647	40	cra	cra	PROPN
cblr-2899	647	41	with	with	ADP
cblr-2899	647	42	better	well	ADJ
cblr-2899	647	43	performance	performance	NOUN
cblr-2899	647	44	statistics	statistic	NOUN
cblr-2899	647	45	for	for	ADP
cblr-2899	647	46	that	that	DET
cblr-2899	647	47	asset	asset	NOUN
cblr-2899	647	48	class	class	NOUN
cblr-2899	647	49	.	.	PUNCT
cblr-2899	648	1	a	a	DET
cblr-2899	648	2	useful	useful	ADJ
cblr-2899	648	3	bright	bright	ADJ
cblr-2899	648	4	line	line	NOUN
cblr-2899	648	5	rule	rule	NOUN
cblr-2899	648	6	should	should	AUX
cblr-2899	648	7	be	be	AUX
cblr-2899	648	8	that	that	SCONJ
cblr-2899	648	9	the	the	DET
cblr-2899	648	10	designation	designation	NOUN
cblr-2899	648	11	is	be	AUX
cblr-2899	648	12	triggered	trigger	VERB
cblr-2899	648	13	as	as	ADV
cblr-2899	648	14	soon	soon	ADV
cblr-2899	648	15	as	as	SCONJ
cblr-2899	648	16	a	a	DET
cblr-2899	648	17	rating	rating	NOUN
cblr-2899	648	18	agency	agency	NOUN
cblr-2899	648	19	is	be	AUX
cblr-2899	648	20	ranked	rank	VERB
cblr-2899	648	21	below	below	ADP
cblr-2899	648	22	the	the	DET
cblr-2899	648	23	top	top	ADJ
cblr-2899	648	24	three	three	NUM
cblr-2899	648	25	places	place	NOUN
cblr-2899	648	26	in	in	ADP
cblr-2899	648	27	the	the	DET
cblr-2899	648	28	rankings	ranking	NOUN
cblr-2899	648	29	published	publish	VERB
cblr-2899	648	30	by	by	ADP
cblr-2899	648	31	the	the	DET
cblr-2899	648	32	governmental	governmental	ADJ
cblr-2899	648	33	agency	agency	NOUN
cblr-2899	648	34	or	or	CCONJ
cblr-2899	648	35	selfregulatory	selfregulatory	ADJ
cblr-2899	648	36	organization	organization	NOUN
cblr-2899	648	37	described	describe	VERB
cblr-2899	648	38	in	in	ADP
cblr-2899	648	39	part	part	NOUN
cblr-2899	648	40	(	(	PUNCT
cblr-2899	648	41	2	2	NUM
cblr-2899	648	42	)	)	PUNCT
cblr-2899	648	43	of	of	ADP
cblr-2899	648	44	this	this	DET
cblr-2899	648	45	proposal	proposal	NOUN
cblr-2899	648	46	.	.	PUNCT
cblr-2899	649	1	the	the	DET
cblr-2899	649	2	second	second	ADJ
cblr-2899	649	3	rating	rating	NOUN
cblr-2899	649	4	would	would	AUX
cblr-2899	649	5	then	then	ADV
cblr-2899	649	6	have	have	VERB
cblr-2899	649	7	to	to	PART
cblr-2899	649	8	be	be	AUX
cblr-2899	649	9	purchased	purchase	VERB
cblr-2899	649	10	from	from	ADP
cblr-2899	649	11	one	one	NUM
cblr-2899	649	12	of	of	ADP
cblr-2899	649	13	the	the	DET
cblr-2899	649	14	cras	cras	PROPN
cblr-2899	649	15	ranked	rank	VERB
cblr-2899	649	16	in	in	ADP
cblr-2899	649	17	the	the	DET
cblr-2899	649	18	top	top	ADJ
cblr-2899	649	19	three	three	NUM
cblr-2899	649	20	places	place	NOUN
cblr-2899	649	21	.	.	PUNCT
cblr-2899	650	1	the	the	DET
cblr-2899	650	2	effect	effect	NOUN
cblr-2899	650	3	of	of	ADP
cblr-2899	650	4	this	this	DET
cblr-2899	650	5	requirement	requirement	NOUN
cblr-2899	650	6	will	will	AUX
cblr-2899	650	7	be	be	AUX
cblr-2899	650	8	to	to	PART
cblr-2899	650	9	divert	divert	VERB
cblr-2899	650	10	business	business	NOUN
cblr-2899	650	11	away	away	ADV
cblr-2899	650	12	from	from	ADP
cblr-2899	650	13	inefficient	inefficient	ADJ
cblr-2899	650	14	rating	rating	NOUN
cblr-2899	650	15	agencies	agency	NOUN
cblr-2899	650	16	,	,	PUNCT
cblr-2899	650	17	since	since	SCONJ
cblr-2899	650	18	the	the	DET
cblr-2899	650	19	issuers	issuer	NOUN
cblr-2899	650	20	(	(	PUNCT
cblr-2899	650	21	or	or	CCONJ
cblr-2899	650	22	rather	rather	ADV
cblr-2899	650	23	,	,	PUNCT
cblr-2899	650	24	the	the	DET
cblr-2899	650	25	voting	voting	NOUN
cblr-2899	650	26	investors	investor	NOUN
cblr-2899	650	27	)	)	PUNCT
cblr-2899	650	28	will	will	AUX
cblr-2899	650	29	face	face	VERB
cblr-2899	650	30	a	a	DET
cblr-2899	650	31	choice	choice	NOUN
cblr-2899	650	32	of	of	ADP
cblr-2899	650	33	:	:	PUNCT
cblr-2899	650	34	(	(	PUNCT
cblr-2899	650	35	1	1	X
cblr-2899	650	36	)	)	PUNCT
cblr-2899	650	37	hiring	hire	VERB
cblr-2899	650	38	a	a	DET
cblr-2899	650	39	no	no	NOUN
cblr-2899	650	40	.	.	NOUN
cblr-2899	651	1	3:994	3:994	NUM
cblr-2899	651	2	]	]	SYM
cblr-2899	651	3	1039	1039	NUM
cblr-2899	651	4	columbia	columbia	PROPN
cblr-2899	651	5	business	business	NOUN
cblr-2899	651	6	law	law	PROPN
cblr-2899	651	7	review	review	VERB
cblr-2899	651	8	less	less	ADV
cblr-2899	651	9	efficient	efficient	ADJ
cblr-2899	651	10	cra	cra	NOUN
cblr-2899	651	11	with	with	ADP
cblr-2899	651	12	the	the	DET
cblr-2899	651	13	additional	additional	ADJ
cblr-2899	651	14	cost	cost	NOUN
cblr-2899	651	15	of	of	ADP
cblr-2899	651	16	obtaining	obtain	VERB
cblr-2899	651	17	a	a	DET
cblr-2899	651	18	second	second	ADJ
cblr-2899	651	19	rating	rating	NOUN
cblr-2899	651	20	,	,	PUNCT
cblr-2899	651	21	or	or	CCONJ
cblr-2899	651	22	(	(	PUNCT
cblr-2899	651	23	2	2	X
cblr-2899	651	24	)	)	PUNCT
cblr-2899	651	25	simply	simply	ADV
cblr-2899	651	26	paying	pay	VERB
cblr-2899	651	27	the	the	DET
cblr-2899	651	28	more	more	ADV
cblr-2899	651	29	efficient	efficient	ADJ
cblr-2899	651	30	cra	cra	PROPN
cblr-2899	651	31	directly	directly	ADV
cblr-2899	651	32	without	without	ADP
cblr-2899	651	33	any	any	DET
cblr-2899	651	34	added	add	VERB
cblr-2899	651	35	cost	cost	NOUN
cblr-2899	651	36	.	.	PUNCT
cblr-2899	652	1	'7	'7	ADJ
cblr-2899	652	2	5	5	NUM
cblr-2899	652	3	essentially	essentially	ADV
cblr-2899	652	4	,	,	PUNCT
cblr-2899	652	5	this	this	DET
cblr-2899	652	6	model	model	NOUN
cblr-2899	652	7	will	will	AUX
cblr-2899	652	8	replicate	replicate	VERB
cblr-2899	652	9	an	an	DET
cblr-2899	652	10	efficient	efficient	ADJ
cblr-2899	652	11	market	market	NOUN
cblr-2899	652	12	that	that	PRON
cblr-2899	652	13	drives	drive	VERB
cblr-2899	652	14	out	out	ADP
cblr-2899	652	15	poorly	poorly	ADV
cblr-2899	652	16	performing	perform	VERB
cblr-2899	652	17	players	player	NOUN
cblr-2899	652	18	.	.	PUNCT
cblr-2899	653	1	the	the	DET
cblr-2899	653	2	"	"	PUNCT
cblr-2899	653	3	low	low	ADV
cblr-2899	653	4	-	-	PUNCT
cblr-2899	653	5	performing	perform	VERB
cblr-2899	653	6	"	"	PUNCT
cblr-2899	653	7	designation	designation	NOUN
cblr-2899	653	8	will	will	AUX
cblr-2899	653	9	be	be	AUX
cblr-2899	653	10	applied	apply	VERB
cblr-2899	653	11	only	only	ADV
cblr-2899	653	12	to	to	ADP
cblr-2899	653	13	particular	particular	ADJ
cblr-2899	653	14	asset	asset	NOUN
cblr-2899	653	15	classes	class	NOUN
cblr-2899	653	16	so	so	SCONJ
cblr-2899	653	17	that	that	SCONJ
cblr-2899	653	18	a	a	DET
cblr-2899	653	19	designated	designate	VERB
cblr-2899	653	20	cra	cra	PROPN
cblr-2899	653	21	will	will	AUX
cblr-2899	653	22	still	still	ADV
cblr-2899	653	23	have	have	VERB
cblr-2899	653	24	the	the	DET
cblr-2899	653	25	ability	ability	NOUN
cblr-2899	653	26	to	to	PART
cblr-2899	653	27	be	be	AUX
cblr-2899	653	28	profitable	profitable	ADJ
cblr-2899	653	29	if	if	SCONJ
cblr-2899	653	30	its	its	PRON
cblr-2899	653	31	ratings	rating	NOUN
cblr-2899	653	32	in	in	ADP
cblr-2899	653	33	other	other	ADJ
cblr-2899	653	34	asset	asset	NOUN
cblr-2899	653	35	classes	class	NOUN
cblr-2899	653	36	are	be	AUX
cblr-2899	653	37	accurate	accurate	ADJ
cblr-2899	653	38	.	.	PUNCT
cblr-2899	654	1	for	for	ADP
cblr-2899	654	2	purposes	purpose	NOUN
cblr-2899	654	3	of	of	ADP
cblr-2899	654	4	complying	comply	VERB
cblr-2899	654	5	with	with	ADP
cblr-2899	654	6	regulations	regulation	NOUN
cblr-2899	654	7	that	that	PRON
cblr-2899	654	8	impose	impose	VERB
cblr-2899	654	9	certain	certain	ADJ
cblr-2899	654	10	rating	rating	NOUN
cblr-2899	654	11	thresholds	threshold	NOUN
cblr-2899	654	12	,	,	PUNCT
cblr-2899	654	13	where	where	SCONJ
cblr-2899	654	14	the	the	DET
cblr-2899	654	15	purchase	purchase	NOUN
cblr-2899	654	16	of	of	ADP
cblr-2899	654	17	two	two	NUM
cblr-2899	654	18	ratings	rating	NOUN
cblr-2899	654	19	is	be	AUX
cblr-2899	654	20	mandated	mandate	VERB
cblr-2899	654	21	in	in	ADP
cblr-2899	654	22	accordance	accordance	NOUN
cblr-2899	654	23	with	with	ADP
cblr-2899	654	24	this	this	DET
cblr-2899	654	25	proposal	proposal	NOUN
cblr-2899	654	26	,	,	PUNCT
cblr-2899	654	27	both	both	DET
cblr-2899	654	28	ratings	rating	NOUN
cblr-2899	654	29	should	should	AUX
cblr-2899	654	30	carry	carry	VERB
cblr-2899	654	31	legal	legal	ADJ
cblr-2899	654	32	force	force	NOUN
cblr-2899	654	33	.	.	PUNCT
cblr-2899	655	1	this	this	PRON
cblr-2899	655	2	means	mean	VERB
cblr-2899	655	3	that	that	SCONJ
cblr-2899	655	4	if	if	SCONJ
cblr-2899	655	5	the	the	DET
cblr-2899	655	6	two	two	NUM
cblr-2899	655	7	ratings	rating	NOUN
cblr-2899	655	8	were	be	AUX
cblr-2899	655	9	to	to	PART
cblr-2899	655	10	diverge	diverge	VERB
cblr-2899	655	11	,	,	PUNCT
cblr-2899	655	12	say	say	VERB
cblr-2899	655	13	in	in	ADP
cblr-2899	655	14	the	the	DET
cblr-2899	655	15	extreme	extreme	ADJ
cblr-2899	655	16	case	case	NOUN
cblr-2899	655	17	that	that	SCONJ
cblr-2899	655	18	one	one	NUM
cblr-2899	655	19	rating	rating	NOUN
cblr-2899	655	20	is	be	AUX
cblr-2899	655	21	investment	investment	NOUN
cblr-2899	655	22	-	-	PUNCT
cblr-2899	655	23	grade	grade	NOUN
cblr-2899	655	24	while	while	SCONJ
cblr-2899	655	25	the	the	DET
cblr-2899	655	26	other	other	ADJ
cblr-2899	655	27	is	be	AUX
cblr-2899	655	28	non	non	ADJ
cblr-2899	655	29	-	-	ADJ
cblr-2899	655	30	investment	investment	ADJ
cblr-2899	655	31	-	-	PUNCT
cblr-2899	655	32	grade	grade	NOUN
cblr-2899	655	33	,	,	PUNCT
cblr-2899	655	34	that	that	SCONJ
cblr-2899	655	35	security	security	NOUN
cblr-2899	655	36	will	will	AUX
cblr-2899	655	37	not	not	PART
cblr-2899	655	38	have	have	AUX
cblr-2899	655	39	met	meet	VERB
cblr-2899	655	40	an	an	DET
cblr-2899	655	41	investment	investment	NOUN
cblr-2899	655	42	-	-	PUNCT
cblr-2899	655	43	grade	grade	NOUN
cblr-2899	655	44	threshold	threshold	NOUN
cblr-2899	655	45	for	for	ADP
cblr-2899	655	46	purposes	purpose	NOUN
cblr-2899	655	47	of	of	ADP
cblr-2899	655	48	complying	comply	VERB
cblr-2899	655	49	with	with	ADP
cblr-2899	655	50	a	a	DET
cblr-2899	655	51	regulation	regulation	NOUN
cblr-2899	655	52	that	that	PRON
cblr-2899	655	53	requires	require	VERB
cblr-2899	655	54	an	an	DET
cblr-2899	655	55	investment	investment	NOUN
cblr-2899	655	56	-	-	PUNCT
cblr-2899	655	57	grade	grade	NOUN
cblr-2899	655	58	rating	rating	NOUN
cblr-2899	655	59	.	.	PUNCT
cblr-2899	656	1	the	the	DET
cblr-2899	656	2	advantage	advantage	NOUN
cblr-2899	656	3	of	of	ADP
cblr-2899	656	4	this	this	DET
cblr-2899	656	5	idea	idea	NOUN
cblr-2899	656	6	over	over	ADP
cblr-2899	656	7	various	various	ADJ
cblr-2899	656	8	types	type	NOUN
cblr-2899	656	9	of	of	ADP
cblr-2899	656	10	sanctions	sanction	NOUN
cblr-2899	656	11	,	,	PUNCT
cblr-2899	656	12	such	such	ADJ
cblr-2899	656	13	as	as	ADP
cblr-2899	656	14	profit	profit	NOUN
cblr-2899	656	15	disgorgement	disgorgement	NOUN
cblr-2899	656	16	,	,	PUNCT
cblr-2899	656	17	debt	debt	NOUN
cblr-2899	656	18	compensation	compensation	NOUN
cblr-2899	656	19	,	,	PUNCT
cblr-2899	656	20	or	or	CCONJ
cblr-2899	656	21	deferred	deferred	ADJ
cblr-2899	656	22	payments	payment	NOUN
cblr-2899	656	23	,	,	PUNCT
cblr-2899	656	24	is	be	AUX
cblr-2899	656	25	that	that	SCONJ
cblr-2899	656	26	it	it	PRON
cblr-2899	656	27	is	be	AUX
cblr-2899	656	28	much	much	ADV
cblr-2899	656	29	simpler	simple	ADJ
cblr-2899	656	30	.	.	PUNCT
cblr-2899	657	1	there	there	PRON
cblr-2899	657	2	will	will	AUX
cblr-2899	657	3	be	be	AUX
cblr-2899	657	4	no	no	DET
cblr-2899	657	5	need	need	NOUN
cblr-2899	657	6	to	to	PART
cblr-2899	657	7	make	make	VERB
cblr-2899	657	8	complex	complex	ADJ
cblr-2899	657	9	calculations	calculation	NOUN
cblr-2899	657	10	of	of	ADP
cblr-2899	657	11	profits	profit	NOUN
cblr-2899	657	12	that	that	PRON
cblr-2899	657	13	will	will	AUX
cblr-2899	657	14	be	be	AUX
cblr-2899	657	15	disputed	dispute	VERB
cblr-2899	657	16	by	by	ADP
cblr-2899	657	17	cras	cra	NOUN
cblr-2899	657	18	and	and	CCONJ
cblr-2899	657	19	require	require	VERB
cblr-2899	657	20	investigation	investigation	NOUN
cblr-2899	657	21	.	.	PUNCT
cblr-2899	658	1	additionally	additionally	ADV
cblr-2899	658	2	,	,	PUNCT
cblr-2899	658	3	there	there	PRON
cblr-2899	658	4	will	will	AUX
cblr-2899	658	5	not	not	PART
cblr-2899	658	6	be	be	AUX
cblr-2899	658	7	liquidity	liquidity	NOUN
cblr-2899	658	8	problems	problem	NOUN
cblr-2899	658	9	due	due	ADJ
cblr-2899	658	10	to	to	ADP
cblr-2899	658	11	large	large	ADJ
cblr-2899	658	12	and	and	CCONJ
cblr-2899	658	13	unexpected	unexpected	ADJ
cblr-2899	658	14	disgorgements	disgorgement	NOUN
cblr-2899	658	15	of	of	ADP
cblr-2899	658	16	profits	profit	NOUN
cblr-2899	658	17	or	or	CCONJ
cblr-2899	658	18	deferred	deferred	ADJ
cblr-2899	658	19	payments	payment	NOUN
cblr-2899	658	20	.	.	PUNCT
cblr-2899	659	1	although	although	SCONJ
cblr-2899	659	2	this	this	DET
cblr-2899	659	3	proposal	proposal	NOUN
cblr-2899	659	4	will	will	AUX
cblr-2899	659	5	allow	allow	VERB
cblr-2899	659	6	the	the	DET
cblr-2899	659	7	cras	cras	PROPN
cblr-2899	659	8	to	to	PART
cblr-2899	659	9	keep	keep	VERB
cblr-2899	659	10	the	the	DET
cblr-2899	659	11	profits	profit	NOUN
cblr-2899	659	12	they	they	PRON
cblr-2899	659	13	have	have	AUX
cblr-2899	659	14	already	already	ADV
cblr-2899	659	15	earned	earn	VERB
cblr-2899	659	16	from	from	ADP
cblr-2899	659	17	inaccurate	inaccurate	ADJ
cblr-2899	659	18	ratings	rating	NOUN
cblr-2899	659	19	and	and	CCONJ
cblr-2899	659	20	prevent	prevent	VERB
cblr-2899	659	21	them	they	PRON
cblr-2899	659	22	only	only	ADV
cblr-2899	659	23	from	from	ADP
cblr-2899	659	24	making	make	VERB
cblr-2899	659	25	further	further	ADJ
cblr-2899	659	26	profits	profit	NOUN
cblr-2899	659	27	,	,	PUNCT
cblr-2899	659	28	it	it	PRON
cblr-2899	659	29	is	be	AUX
cblr-2899	659	30	complimented	compliment	VERB
cblr-2899	659	31	by	by	ADP
cblr-2899	659	32	dodd	dodd	PROPN
cblr-2899	659	33	-	-	PUNCT
cblr-2899	659	34	frank	frank	PROPN
cblr-2899	659	35	's	's	PART
cblr-2899	659	36	imposition	imposition	NOUN
cblr-2899	659	37	of	of	ADP
cblr-2899	659	38	civil	civil	ADJ
cblr-2899	659	39	liability	liability	NOUN
cblr-2899	659	40	,	,	PUNCT
cblr-2899	659	41	which	which	PRON
cblr-2899	659	42	threatens	threaten	VERB
cblr-2899	659	43	large	large	ADJ
cblr-2899	659	44	damages	damage	NOUN
cblr-2899	659	45	payments	payment	NOUN
cblr-2899	659	46	.	.	PUNCT
cblr-2899	660	1	additionally	additionally	ADV
cblr-2899	660	2	,	,	PUNCT
cblr-2899	660	3	the	the	DET
cblr-2899	660	4	proposal	proposal	NOUN
cblr-2899	660	5	would	would	AUX
cblr-2899	660	6	impose	impose	VERB
cblr-2899	660	7	huge	huge	ADJ
cblr-2899	660	8	reputational	reputational	ADJ
cblr-2899	660	9	penalties	penalty	NOUN
cblr-2899	660	10	on	on	ADP
cblr-2899	660	11	cras	cras	PROPN
cblr-2899	660	12	designated	designate	VERB
cblr-2899	660	13	as	as	ADP
cblr-2899	660	14	low	low	ADV
cblr-2899	660	15	-	-	PUNCT
cblr-2899	660	16	performing	perform	VERB
cblr-2899	660	17	.	.	PUNCT
cblr-2899	661	1	imagine	imagine	VERB
cblr-2899	661	2	the	the	DET
cblr-2899	661	3	effect	effect	NOUN
cblr-2899	661	4	of	of	ADP
cblr-2899	661	5	disclosing	disclose	VERB
cblr-2899	661	6	the	the	DET
cblr-2899	661	7	truth	truth	NOUN
cblr-2899	661	8	that	that	PRON
cblr-2899	661	9	default	default	NOUN
cblr-2899	661	10	rates	rate	NOUN
cblr-2899	661	11	on	on	ADP
cblr-2899	661	12	cdos	cdo	NOUN
cblr-2899	661	13	rated	rate	VERB
cblr-2899	661	14	investment	investment	NOUN
cblr-2899	661	15	-	-	PUNCT
cblr-2899	661	16	grade	grade	NOUN
cblr-2899	661	17	by	by	ADP
cblr-2899	661	18	moody	moody	PROPN
cblr-2899	661	19	's	's	PART
cblr-2899	661	20	were	be	AUX
cblr-2899	661	21	between	between	ADP
cblr-2899	661	22	17	17	NUM
cblr-2899	661	23	and	and	CCONJ
cblr-2899	661	24	175	175	NUM
cblr-2899	661	25	an	an	DET
cblr-2899	661	26	underlying	underlying	ADJ
cblr-2899	661	27	assumption	assumption	NOUN
cblr-2899	661	28	of	of	ADP
cblr-2899	661	29	this	this	DET
cblr-2899	661	30	analysis	analysis	NOUN
cblr-2899	661	31	is	be	AUX
cblr-2899	661	32	that	that	SCONJ
cblr-2899	661	33	issuers	issuer	NOUN
cblr-2899	661	34	will	will	AUX
cblr-2899	661	35	reflect	reflect	VERB
cblr-2899	661	36	any	any	DET
cblr-2899	661	37	increased	increase	VERB
cblr-2899	661	38	cost	cost	NOUN
cblr-2899	661	39	they	they	PRON
cblr-2899	661	40	face	face	VERB
cblr-2899	661	41	in	in	ADP
cblr-2899	661	42	the	the	DET
cblr-2899	661	43	prices	price	NOUN
cblr-2899	661	44	they	they	PRON
cblr-2899	661	45	charge	charge	VERB
cblr-2899	661	46	their	their	PRON
cblr-2899	661	47	investors	investor	NOUN
cblr-2899	661	48	.	.	PUNCT
cblr-2899	662	1	therefore	therefore	ADV
cblr-2899	662	2	,	,	PUNCT
cblr-2899	662	3	the	the	DET
cblr-2899	662	4	voting	voting	NOUN
cblr-2899	662	5	investors	investor	NOUN
cblr-2899	662	6	will	will	AUX
cblr-2899	662	7	have	have	VERB
cblr-2899	662	8	an	an	DET
cblr-2899	662	9	incentive	incentive	NOUN
cblr-2899	662	10	to	to	PART
cblr-2899	662	11	choose	choose	VERB
cblr-2899	662	12	an	an	DET
cblr-2899	662	13	efficient	efficient	ADJ
cblr-2899	662	14	cra	cra	NOUN
cblr-2899	662	15	that	that	PRON
cblr-2899	662	16	will	will	AUX
cblr-2899	662	17	minimize	minimize	VERB
cblr-2899	662	18	the	the	DET
cblr-2899	662	19	issuer	issuer	NOUN
cblr-2899	662	20	's	's	PART
cblr-2899	662	21	costs	cost	NOUN
cblr-2899	662	22	and	and	CCONJ
cblr-2899	662	23	indirectly	indirectly	ADV
cblr-2899	662	24	minimize	minimize	VERB
cblr-2899	662	25	their	their	PRON
cblr-2899	662	26	own	own	ADJ
cblr-2899	662	27	costs	cost	NOUN
cblr-2899	662	28	as	as	ADV
cblr-2899	662	29	well	well	ADV
cblr-2899	662	30	.	.	PUNCT
cblr-2899	663	1	1040	1040	NUM
cblr-2899	664	1	[	[	X
cblr-2899	664	2	vol	vol	NOUN
cblr-2899	664	3	.	.	PUNCT
cblr-2899	664	4	2012	2012	NUM
cblr-2899	664	5	24%!176	24%!176	NUM
cblr-2899	665	1	the	the	DET
cblr-2899	665	2	requirement	requirement	NOUN
cblr-2899	665	3	that	that	SCONJ
cblr-2899	665	4	a	a	DET
cblr-2899	665	5	second	second	ADJ
cblr-2899	665	6	rating	rating	NOUN
cblr-2899	665	7	must	must	AUX
cblr-2899	665	8	be	be	AUX
cblr-2899	665	9	purchased	purchase	VERB
cblr-2899	665	10	will	will	AUX
cblr-2899	665	11	also	also	ADV
cblr-2899	665	12	reward	reward	VERB
cblr-2899	665	13	the	the	DET
cblr-2899	665	14	accurate	accurate	ADJ
cblr-2899	665	15	rating	rating	NOUN
cblr-2899	665	16	agencies	agency	NOUN
cblr-2899	665	17	with	with	ADP
cblr-2899	665	18	more	more	ADJ
cblr-2899	665	19	business	business	NOUN
cblr-2899	665	20	.	.	PUNCT
cblr-2899	666	1	unfortunately	unfortunately	ADV
cblr-2899	666	2	,	,	PUNCT
cblr-2899	666	3	as	as	SCONJ
cblr-2899	666	4	previously	previously	ADV
cblr-2899	666	5	discussed	discuss	VERB
cblr-2899	666	6	,	,	PUNCT
cblr-2899	666	7	any	any	DET
cblr-2899	666	8	sanction	sanction	NOUN
cblr-2899	666	9	or	or	CCONJ
cblr-2899	666	10	benefit	benefit	NOUN
cblr-2899	666	11	relying	rely	VERB
cblr-2899	666	12	on	on	ADP
cblr-2899	666	13	past	past	ADJ
cblr-2899	666	14	performance	performance	NOUN
cblr-2899	666	15	measures	measure	NOUN
cblr-2899	666	16	will	will	AUX
cblr-2899	666	17	punish	punish	VERB
cblr-2899	666	18	bad	bad	ADJ
cblr-2899	666	19	behavior	behavior	NOUN
cblr-2899	666	20	or	or	CCONJ
cblr-2899	666	21	reward	reward	VERB
cblr-2899	666	22	good	good	ADJ
cblr-2899	666	23	behavior	behavior	NOUN
cblr-2899	666	24	only	only	ADV
cblr-2899	666	25	after	after	ADP
cblr-2899	666	26	a	a	DET
cblr-2899	666	27	significant	significant	ADJ
cblr-2899	666	28	lapse	lapse	NOUN
cblr-2899	666	29	in	in	ADP
cblr-2899	666	30	time	time	NOUN
cblr-2899	666	31	.	.	PUNCT
cblr-2899	667	1	instead	instead	ADV
cblr-2899	667	2	of	of	ADP
cblr-2899	667	3	imposing	impose	VERB
cblr-2899	667	4	a	a	DET
cblr-2899	667	5	bright	bright	ADJ
cblr-2899	667	6	line	line	NOUN
cblr-2899	667	7	rule	rule	NOUN
cblr-2899	667	8	,	,	PUNCT
cblr-2899	667	9	which	which	PRON
cblr-2899	667	10	would	would	AUX
cblr-2899	667	11	trigger	trigger	VERB
cblr-2899	667	12	the	the	DET
cblr-2899	667	13	requirement	requirement	NOUN
cblr-2899	667	14	to	to	PART
cblr-2899	667	15	purchase	purchase	VERB
cblr-2899	667	16	a	a	DET
cblr-2899	667	17	second	second	ADJ
cblr-2899	667	18	rating	rating	NOUN
cblr-2899	667	19	as	as	ADV
cblr-2899	667	20	soon	soon	ADV
cblr-2899	667	21	as	as	SCONJ
cblr-2899	667	22	a	a	DET
cblr-2899	667	23	cra	cra	PROPN
cblr-2899	667	24	falls	fall	VERB
cblr-2899	667	25	below	below	ADP
cblr-2899	667	26	the	the	DET
cblr-2899	667	27	top	top	ADJ
cblr-2899	667	28	three	three	NUM
cblr-2899	667	29	performers	performer	NOUN
cblr-2899	667	30	,	,	PUNCT
cblr-2899	667	31	more	more	ADV
cblr-2899	667	32	specific	specific	ADJ
cblr-2899	667	33	performance	performance	NOUN
cblr-2899	667	34	triggers	trigger	NOUN
cblr-2899	667	35	could	could	AUX
cblr-2899	667	36	be	be	AUX
cblr-2899	667	37	imposed	impose	VERB
cblr-2899	667	38	.	.	PUNCT
cblr-2899	668	1	one	one	NUM
cblr-2899	668	2	way	way	NOUN
cblr-2899	668	3	to	to	PART
cblr-2899	668	4	do	do	VERB
cblr-2899	668	5	this	this	PRON
cblr-2899	668	6	is	be	AUX
cblr-2899	668	7	by	by	ADP
cblr-2899	668	8	using	use	VERB
cblr-2899	668	9	default	default	NOUN
cblr-2899	668	10	rates	rate	NOUN
cblr-2899	668	11	of	of	ADP
cblr-2899	668	12	traditionally	traditionally	ADV
cblr-2899	668	13	high	high	ADJ
cblr-2899	668	14	-	-	PUNCT
cblr-2899	668	15	quality	quality	NOUN
cblr-2899	668	16	bond	bond	NOUN
cblr-2899	668	17	ratings	rating	NOUN
cblr-2899	668	18	as	as	ADP
cblr-2899	668	19	a	a	DET
cblr-2899	668	20	benchmark	benchmark	NOUN
cblr-2899	668	21	and	and	CCONJ
cblr-2899	668	22	comparing	compare	VERB
cblr-2899	668	23	default	default	NOUN
cblr-2899	668	24	rates	rate	NOUN
cblr-2899	668	25	across	across	ADP
cblr-2899	668	26	classes.17	classes.17	PROPN
cblr-2899	668	27	7	7	NUM
cblr-2899	668	28	the	the	DET
cblr-2899	668	29	regulatory	regulatory	ADJ
cblr-2899	668	30	organization	organization	NOUN
cblr-2899	668	31	could	could	AUX
cblr-2899	668	32	define	define	VERB
cblr-2899	668	33	a	a	DET
cblr-2899	668	34	maximum	maximum	ADJ
cblr-2899	668	35	acceptable	acceptable	ADJ
cblr-2899	668	36	default	default	NOUN
cblr-2899	668	37	rate	rate	NOUN
cblr-2899	668	38	for	for	ADP
cblr-2899	668	39	each	each	DET
cblr-2899	668	40	letter	letter	NOUN
cblr-2899	668	41	grade	grade	NOUN
cblr-2899	668	42	in	in	ADP
cblr-2899	668	43	a	a	DET
cblr-2899	668	44	particular	particular	ADJ
cblr-2899	668	45	asset	asset	NOUN
cblr-2899	668	46	class	class	NOUN
cblr-2899	668	47	:	:	PUNCT
cblr-2899	668	48	for	for	ADP
cblr-2899	668	49	example	example	NOUN
cblr-2899	668	50	,	,	PUNCT
cblr-2899	668	51	"	"	PUNCT
cblr-2899	668	52	the	the	DET
cblr-2899	668	53	sec	sec	PROPN
cblr-2899	668	54	might	might	AUX
cblr-2899	668	55	specify	specify	VERB
cblr-2899	668	56	an	an	DET
cblr-2899	668	57	8	8	NUM
cblr-2899	668	58	%	%	NOUN
cblr-2899	668	59	default	default	NOUN
cblr-2899	668	60	rate	rate	NOUN
cblr-2899	668	61	for	for	ADP
cblr-2899	668	62	moody	moody	PROPN
cblr-2899	668	63	's	's	PART
cblr-2899	668	64	baa	baa	NOUN
cblr-2899	668	65	rating	rating	NOUN
cblr-2899	668	66	and	and	CCONJ
cblr-2899	668	67	a	a	DET
cblr-2899	668	68	tighter	tight	ADJ
cblr-2899	668	69	3	3	NUM
cblr-2899	668	70	%	%	NOUN
cblr-2899	668	71	default	default	NOUN
cblr-2899	668	72	rate	rate	NOUN
cblr-2899	668	73	for	for	ADP
cblr-2899	668	74	its	its	PRON
cblr-2899	668	75	aa	aa	NOUN
cblr-2899	668	76	rating	rating	NOUN
cblr-2899	668	77	.	.	PUNCT
cblr-2899	669	1	"178	"178	PROPN
cblr-2899	670	1	different	different	ADJ
cblr-2899	670	2	asset	asset	NOUN
cblr-2899	670	3	classes	class	NOUN
cblr-2899	670	4	would	would	AUX
cblr-2899	670	5	have	have	VERB
cblr-2899	670	6	differing	differ	VERB
cblr-2899	670	7	acceptable	acceptable	ADJ
cblr-2899	670	8	default	default	NOUN
cblr-2899	670	9	rates	rate	NOUN
cblr-2899	670	10	,	,	PUNCT
cblr-2899	670	11	recognizing	recognize	VERB
cblr-2899	670	12	that	that	SCONJ
cblr-2899	670	13	structured	structured	ADJ
cblr-2899	670	14	products	product	NOUN
cblr-2899	670	15	do	do	AUX
cblr-2899	670	16	not	not	PART
cblr-2899	670	17	operate	operate	VERB
cblr-2899	670	18	in	in	ADP
cblr-2899	670	19	the	the	DET
cblr-2899	670	20	same	same	ADJ
cblr-2899	670	21	way	way	NOUN
cblr-2899	670	22	as	as	SCONJ
cblr-2899	670	23	corporate	corporate	ADJ
cblr-2899	670	24	bonds	bond	NOUN
cblr-2899	670	25	do	do	VERB
cblr-2899	670	26	.	.	PUNCT
cblr-2899	671	1	the	the	DET
cblr-2899	671	2	acceptable	acceptable	ADJ
cblr-2899	671	3	default	default	NOUN
cblr-2899	671	4	rates	rate	NOUN
cblr-2899	671	5	will	will	AUX
cblr-2899	671	6	also	also	ADV
cblr-2899	671	7	need	need	VERB
cblr-2899	671	8	to	to	PART
cblr-2899	671	9	be	be	AUX
cblr-2899	671	10	adjusted	adjust	VERB
cblr-2899	671	11	in	in	ADP
cblr-2899	671	12	certain	certain	ADJ
cblr-2899	671	13	circumstances	circumstance	NOUN
cblr-2899	671	14	;	;	PUNCT
cblr-2899	671	15	for	for	ADP
cblr-2899	671	16	example	example	NOUN
cblr-2899	671	17	,	,	PUNCT
cblr-2899	671	18	when	when	SCONJ
cblr-2899	671	19	unanticipated	unanticipated	ADJ
cblr-2899	671	20	external	external	ADJ
cblr-2899	671	21	events	event	NOUN
cblr-2899	671	22	(	(	PUNCT
cblr-2899	671	23	such	such	ADJ
cblr-2899	671	24	as	as	ADP
cblr-2899	671	25	an	an	DET
cblr-2899	671	26	unanticipated	unanticipated	ADJ
cblr-2899	671	27	fall	fall	NOUN
cblr-2899	671	28	in	in	ADP
cblr-2899	671	29	housing	housing	NOUN
cblr-2899	671	30	prices	price	NOUN
cblr-2899	671	31	,	,	PUNCT
cblr-2899	671	32	natural	natural	ADJ
cblr-2899	671	33	disasters	disaster	NOUN
cblr-2899	671	34	,	,	PUNCT
cblr-2899	671	35	etc	etc	X
cblr-2899	671	36	.	.	X
cblr-2899	671	37	)	)	PUNCT
cblr-2899	671	38	impact	impact	VERB
cblr-2899	671	39	the	the	DET
cblr-2899	671	40	market	market	NOUN
cblr-2899	671	41	and	and	CCONJ
cblr-2899	671	42	affect	affect	VERB
cblr-2899	671	43	the	the	DET
cblr-2899	671	44	default	default	NOUN
cblr-2899	671	45	rate	rate	NOUN
cblr-2899	671	46	of	of	ADP
cblr-2899	671	47	all	all	DET
cblr-2899	671	48	securities	security	NOUN
cblr-2899	671	49	.	.	PUNCT
cblr-2899	672	1	clearly	clearly	ADV
cblr-2899	672	2	,	,	PUNCT
cblr-2899	672	3	the	the	DET
cblr-2899	672	4	bright	bright	ADJ
cblr-2899	672	5	-	-	PUNCT
cblr-2899	672	6	line	line	NOUN
cblr-2899	672	7	rule	rule	NOUN
cblr-2899	672	8	would	would	AUX
cblr-2899	672	9	be	be	AUX
cblr-2899	672	10	easier	easy	ADJ
cblr-2899	672	11	to	to	PART
cblr-2899	672	12	apply	apply	VERB
cblr-2899	672	13	than	than	ADP
cblr-2899	672	14	these	these	DET
cblr-2899	672	15	specified	specify	VERB
cblr-2899	672	16	performance	performance	NOUN
cblr-2899	672	17	triggers	trigger	NOUN
cblr-2899	672	18	.	.	PUNCT
cblr-2899	673	1	a	a	DET
cblr-2899	673	2	major	major	ADJ
cblr-2899	673	3	difficulty	difficulty	NOUN
cblr-2899	673	4	is	be	AUX
cblr-2899	673	5	that	that	SCONJ
cblr-2899	673	6	investors	investor	NOUN
cblr-2899	673	7	may	may	AUX
cblr-2899	673	8	strongly	strongly	ADV
cblr-2899	673	9	oppose	oppose	VERB
cblr-2899	673	10	this	this	DET
cblr-2899	673	11	model	model	NOUN
cblr-2899	673	12	because	because	SCONJ
cblr-2899	673	13	they	they	PRON
cblr-2899	673	14	bear	bear	VERB
cblr-2899	673	15	the	the	DET
cblr-2899	673	16	burden	burden	NOUN
cblr-2899	673	17	of	of	ADP
cblr-2899	673	18	the	the	DET
cblr-2899	673	19	cras	cras	X
cblr-2899	673	20	'	'	PART
cblr-2899	673	21	foul	foul	ADJ
cblr-2899	673	22	play	play	NOUN
cblr-2899	673	23	.	.	PUNCT
cblr-2899	674	1	even	even	ADV
cblr-2899	674	2	though	though	SCONJ
cblr-2899	674	3	investors	investor	NOUN
cblr-2899	674	4	will	will	AUX
cblr-2899	674	5	have	have	VERB
cblr-2899	674	6	the	the	DET
cblr-2899	674	7	option	option	NOUN
cblr-2899	674	8	of	of	ADP
cblr-2899	674	9	hiring	hire	VERB
cblr-2899	674	10	more	more	ADV
cblr-2899	674	11	efficient	efficient	ADJ
cblr-2899	674	12	cras	cra	NOUN
cblr-2899	674	13	without	without	ADP
cblr-2899	674	14	added	add	VERB
cblr-2899	674	15	cost	cost	NOUN
cblr-2899	674	16	,	,	PUNCT
cblr-2899	674	17	a	a	DET
cblr-2899	674	18	mass	mass	NOUN
cblr-2899	674	19	migration	migration	NOUN
cblr-2899	674	20	of	of	ADP
cblr-2899	674	21	business	business	NOUN
cblr-2899	674	22	to	to	ADP
cblr-2899	674	23	the	the	DET
cblr-2899	674	24	more	more	ADV
cblr-2899	674	25	efficient	efficient	ADJ
cblr-2899	674	26	cras	cras	X
cblr-2899	674	27	will	will	AUX
cblr-2899	674	28	cause	cause	VERB
cblr-2899	674	29	increased	increased	ADJ
cblr-2899	674	30	demand	demand	NOUN
cblr-2899	674	31	for	for	ADP
cblr-2899	674	32	those	those	DET
cblr-2899	674	33	cras	cras	X
cblr-2899	674	34	and	and	CCONJ
cblr-2899	674	35	therefore	therefore	ADV
cblr-2899	674	36	,	,	PUNCT
cblr-2899	674	37	also	also	ADV
cblr-2899	674	38	increased	increase	VERB
cblr-2899	674	39	fees	fee	NOUN
cblr-2899	674	40	(	(	PUNCT
cblr-2899	674	41	unless	unless	SCONJ
cblr-2899	674	42	there	there	PRON
cblr-2899	674	43	is	be	VERB
cblr-2899	674	44	some	some	DET
cblr-2899	674	45	way	way	NOUN
cblr-2899	674	46	to	to	PART
cblr-2899	674	47	cap	cap	VERB
cblr-2899	674	48	fees	fee	NOUN
cblr-2899	674	49	)	)	PUNCT
cblr-2899	674	50	.	.	PUNCT
cblr-2899	675	1	the	the	DET
cblr-2899	675	2	issuers	issuer	NOUN
cblr-2899	675	3	will	will	AUX
cblr-2899	675	4	pass	pass	VERB
cblr-2899	675	5	these	these	DET
cblr-2899	675	6	fees	fee	NOUN
cblr-2899	675	7	along	along	ADP
cblr-2899	675	8	to	to	ADP
cblr-2899	675	9	investors	investor	NOUN
cblr-2899	675	10	,	,	PUNCT
cblr-2899	675	11	who	who	PRON
cblr-2899	675	12	may	may	AUX
cblr-2899	675	13	be	be	AUX
cblr-2899	675	14	a	a	DET
cblr-2899	675	15	strong	strong	ADJ
cblr-2899	675	16	political	political	ADJ
cblr-2899	675	17	lobby	lobby	NOUN
cblr-2899	675	18	against	against	ADP
cblr-2899	675	19	such	such	ADJ
cblr-2899	675	20	reform	reform	NOUN
cblr-2899	675	21	.	.	PUNCT
cblr-2899	676	1	additionally	additionally	ADV
cblr-2899	676	2	,	,	PUNCT
cblr-2899	676	3	mandating	mandate	VERB
cblr-2899	676	4	the	the	DET
cblr-2899	676	5	176	176	NUM
cblr-2899	676	6	2007	2007	NUM
cblr-2899	676	7	hearings	hearing	NOUN
cblr-2899	676	8	,	,	PUNCT
cblr-2899	676	9	supra	supra	PROPN
cblr-2899	676	10	note	note	PROPN
cblr-2899	676	11	38	38	NUM
cblr-2899	676	12	,	,	PUNCT
cblr-2899	676	13	at	at	ADP
cblr-2899	676	14	7	7	NUM
cblr-2899	676	15	.	.	NOUN
cblr-2899	676	16	177	177	NUM
cblr-2899	676	17	hunt	hunt	NOUN
cblr-2899	676	18	,	,	PUNCT
cblr-2899	676	19	supra	supra	PROPN
cblr-2899	676	20	note	note	PROPN
cblr-2899	676	21	133	133	NUM
cblr-2899	676	22	,	,	PUNCT
cblr-2899	676	23	at	at	ADP
cblr-2899	676	24	205	205	NUM
cblr-2899	676	25	.	.	PUNCT
cblr-2899	676	26	178	178	NUM
cblr-2899	676	27	2007	2007	NUM
cblr-2899	676	28	hearings	hearing	NOUN
cblr-2899	676	29	,	,	PUNCT
cblr-2899	676	30	supra	supra	PROPN
cblr-2899	676	31	note	note	PROPN
cblr-2899	676	32	38	38	NUM
cblr-2899	676	33	,	,	PUNCT
cblr-2899	676	34	at	at	ADP
cblr-2899	676	35	14	14	NUM
cblr-2899	676	36	.	.	PUNCT
cblr-2899	677	1	no	no	INTJ
cblr-2899	677	2	.	.	PUNCT
cblr-2899	678	1	3:994]1	3:994]1	NUM
cblr-2899	678	2	reg	reg	NOUN
cblr-2899	678	3	ula	ula	PROPN
cblr-2899	678	4	ting	ting	PROPN
cblr-2899	678	5	credit	credit	NOUN
cblr-2899	678	6	rating	rating	NOUN
cblr-2899	678	7	agencies	agency	NOUN
cblr-2899	678	8	1041	1041	NUM
cblr-2899	678	9	purchase	purchase	NOUN
cblr-2899	678	10	of	of	ADP
cblr-2899	678	11	a	a	DET
cblr-2899	678	12	second	second	ADJ
cblr-2899	678	13	rating	rating	NOUN
cblr-2899	678	14	could	could	AUX
cblr-2899	678	15	be	be	AUX
cblr-2899	678	16	problematic	problematic	ADJ
cblr-2899	678	17	since	since	SCONJ
cblr-2899	678	18	"	"	PUNCT
cblr-2899	678	19	the	the	DET
cblr-2899	678	20	sec	sec	PROPN
cblr-2899	678	21	...	...	PUNCT
cblr-2899	679	1	ha[s	ha[s	PROPN
cblr-2899	679	2	]	]	PUNCT
cblr-2899	679	3	no	no	DET
cblr-2899	679	4	delegated	delegate	VERB
cblr-2899	679	5	power	power	NOUN
cblr-2899	679	6	over	over	ADP
cblr-2899	679	7	investors	investor	NOUN
cblr-2899	679	8	[	[	X
cblr-2899	679	9	or	or	CCONJ
cblr-2899	679	10	issuers	issuer	NOUN
cblr-2899	679	11	]	]	PUNCT
cblr-2899	679	12	as	as	ADP
cblr-2899	679	13	a	a	DET
cblr-2899	679	14	group	group	NOUN
cblr-2899	679	15	(	(	PUNCT
cblr-2899	679	16	but	but	CCONJ
cblr-2899	679	17	only	only	ADV
cblr-2899	679	18	selected	select	VERB
cblr-2899	679	19	institutions	institution	NOUN
cblr-2899	679	20	,	,	PUNCT
cblr-2899	679	21	such	such	ADJ
cblr-2899	679	22	as	as	ADP
cblr-2899	679	23	mutual	mutual	ADJ
cblr-2899	679	24	funds	fund	NOUN
cblr-2899	679	25	)	)	PUNCT
cblr-2899	679	26	"	"	PUNCT
cblr-2899	679	27	and	and	CCONJ
cblr-2899	679	28	it	it	PRON
cblr-2899	679	29	would	would	AUX
cblr-2899	679	30	not	not	PART
cblr-2899	679	31	be	be	AUX
cblr-2899	679	32	"	"	PUNCT
cblr-2899	679	33	politically	politically	ADV
cblr-2899	679	34	easy	easy	ADJ
cblr-2899	679	35	to	to	PART
cblr-2899	679	36	pass	pass	VERB
cblr-2899	679	37	legislation	legislation	NOUN
cblr-2899	679	38	requiring	require	VERB
cblr-2899	679	39	investors	investor	NOUN
cblr-2899	679	40	.	.	PUNCT
cblr-2899	679	41	.	.	PUNCT
cblr-2899	679	42	.	.	PUNCT
cblr-2899	680	1	[	[	X
cblr-2899	680	2	or	or	CCONJ
cblr-2899	680	3	issuers	issuer	NOUN
cblr-2899	680	4	]	]	PUNCT
cblr-2899	680	5	to	to	PART
cblr-2899	680	6	bear	bear	VERB
cblr-2899	680	7	specified	specify	VERB
cblr-2899	680	8	costs	cost	NOUN
cblr-2899	680	9	.	.	PUNCT
cblr-2899	680	10	.	.	PUNCT
cblr-2899	681	1	.	.	PUNCT
cblr-2899	682	1	."179	."179	PUNCT
cblr-2899	682	2	however	however	ADV
cblr-2899	682	3	,	,	PUNCT
cblr-2899	682	4	this	this	DET
cblr-2899	682	5	situation	situation	NOUN
cblr-2899	682	6	is	be	AUX
cblr-2899	682	7	not	not	PART
cblr-2899	682	8	quite	quite	ADV
cblr-2899	682	9	like	like	ADP
cblr-2899	682	10	a	a	DET
cblr-2899	682	11	mandatory	mandatory	ADJ
cblr-2899	682	12	requirement	requirement	NOUN
cblr-2899	682	13	,	,	PUNCT
cblr-2899	682	14	since	since	SCONJ
cblr-2899	682	15	purchasing	purchase	VERB
cblr-2899	682	16	a	a	DET
cblr-2899	682	17	second	second	ADJ
cblr-2899	682	18	rating	rating	NOUN
cblr-2899	682	19	can	can	AUX
cblr-2899	682	20	be	be	AUX
cblr-2899	682	21	avoided	avoid	VERB
cblr-2899	682	22	simply	simply	ADV
cblr-2899	682	23	by	by	ADP
cblr-2899	682	24	turning	turn	VERB
cblr-2899	682	25	to	to	ADP
cblr-2899	682	26	the	the	DET
cblr-2899	682	27	more	more	ADV
cblr-2899	682	28	accurate	accurate	ADJ
cblr-2899	682	29	rating	rating	NOUN
cblr-2899	682	30	agency	agency	NOUN
cblr-2899	682	31	from	from	ADP
cblr-2899	682	32	the	the	DET
cblr-2899	682	33	beginning	beginning	NOUN
cblr-2899	682	34	,	,	PUNCT
cblr-2899	682	35	which	which	PRON
cblr-2899	682	36	is	be	AUX
cblr-2899	682	37	the	the	DET
cblr-2899	682	38	goal	goal	NOUN
cblr-2899	682	39	of	of	ADP
cblr-2899	682	40	the	the	DET
cblr-2899	682	41	proposal	proposal	NOUN
cblr-2899	682	42	.	.	PUNCT
cblr-2899	683	1	additionally	additionally	ADV
cblr-2899	683	2	,	,	PUNCT
cblr-2899	683	3	the	the	DET
cblr-2899	683	4	general	general	ADJ
cblr-2899	683	5	practice	practice	NOUN
cblr-2899	683	6	in	in	ADP
cblr-2899	683	7	the	the	DET
cblr-2899	683	8	past	past	NOUN
cblr-2899	683	9	already	already	ADV
cblr-2899	683	10	has	have	AUX
cblr-2899	683	11	been	be	AUX
cblr-2899	683	12	to	to	PART
cblr-2899	683	13	purchase	purchase	VERB
cblr-2899	683	14	two	two	NUM
cblr-2899	683	15	ratings	rating	NOUN
cblr-2899	683	16	for	for	ADP
cblr-2899	683	17	a	a	DET
cblr-2899	683	18	particular	particular	ADJ
cblr-2899	683	19	debt	debt	NOUN
cblr-2899	683	20	issuance	issuance	NOUN
cblr-2899	683	21	,	,	PUNCT
cblr-2899	683	22	known	know	VERB
cblr-2899	683	23	as	as	ADP
cblr-2899	683	24	the	the	DET
cblr-2899	683	25	"	"	PUNCT
cblr-2899	683	26	two	two	NUM
cblr-2899	683	27	-	-	PUNCT
cblr-2899	683	28	ratings	rating	NOUN
cblr-2899	683	29	norm	norm	NOUN
cblr-2899	683	30	,	,	PUNCT
cblr-2899	683	31	"	"	PUNCT
cblr-2899	683	32	which	which	PRON
cblr-2899	683	33	will	will	AUX
cblr-2899	683	34	likely	likely	ADV
cblr-2899	683	35	make	make	VERB
cblr-2899	683	36	this	this	DET
cblr-2899	683	37	requirement	requirement	NOUN
cblr-2899	683	38	more	more	ADV
cblr-2899	683	39	acceptable	acceptable	ADJ
cblr-2899	683	40	to	to	ADP
cblr-2899	683	41	issuers	issuer	NOUN
cblr-2899	683	42	and	and	CCONJ
cblr-2899	683	43	investors.so	investors.so	VERB
cblr-2899	683	44	enforcement	enforcement	NOUN
cblr-2899	683	45	of	of	ADP
cblr-2899	683	46	this	this	DET
cblr-2899	683	47	rule	rule	NOUN
cblr-2899	683	48	could	could	AUX
cblr-2899	683	49	be	be	AUX
cblr-2899	683	50	left	leave	VERB
cblr-2899	683	51	to	to	ADP
cblr-2899	683	52	the	the	DET
cblr-2899	683	53	sec	sec	PROPN
cblr-2899	683	54	,	,	PUNCT
cblr-2899	683	55	which	which	PRON
cblr-2899	683	56	already	already	ADV
cblr-2899	683	57	functions	function	VERB
cblr-2899	683	58	as	as	ADP
cblr-2899	683	59	the	the	DET
cblr-2899	683	60	overseer	overseer	NOUN
cblr-2899	683	61	of	of	ADP
cblr-2899	683	62	securities	security	NOUN
cblr-2899	683	63	distributions	distribution	NOUN
cblr-2899	683	64	in	in	ADP
cblr-2899	683	65	the	the	DET
cblr-2899	683	66	public	public	ADJ
cblr-2899	683	67	markets	market	NOUN
cblr-2899	683	68	.	.	PUNCT
cblr-2899	684	1	the	the	DET
cblr-2899	684	2	sec	sec	PROPN
cblr-2899	684	3	,	,	PUNCT
cblr-2899	684	4	in	in	ADP
cblr-2899	684	5	addition	addition	NOUN
cblr-2899	684	6	to	to	ADP
cblr-2899	684	7	requiring	require	VERB
cblr-2899	684	8	credit	credit	NOUN
cblr-2899	684	9	ratings	rating	NOUN
cblr-2899	684	10	in	in	ADP
cblr-2899	684	11	public	public	ADJ
cblr-2899	684	12	registration	registration	NOUN
cblr-2899	684	13	statements	statement	NOUN
cblr-2899	684	14	,	,	PUNCT
cblr-2899	684	15	could	could	AUX
cblr-2899	684	16	promulgate	promulgate	VERB
cblr-2899	684	17	new	new	ADJ
cblr-2899	684	18	securities	security	NOUN
cblr-2899	684	19	rules	rule	NOUN
cblr-2899	684	20	that	that	PRON
cblr-2899	684	21	require	require	VERB
cblr-2899	684	22	compliance	compliance	NOUN
cblr-2899	684	23	with	with	ADP
cblr-2899	684	24	the	the	DET
cblr-2899	684	25	rules	rule	NOUN
cblr-2899	684	26	of	of	ADP
cblr-2899	684	27	this	this	DET
cblr-2899	684	28	proposal	proposal	NOUN
cblr-2899	684	29	as	as	ADP
cblr-2899	684	30	part	part	NOUN
cblr-2899	684	31	of	of	ADP
cblr-2899	684	32	the	the	DET
cblr-2899	684	33	process	process	NOUN
cblr-2899	684	34	for	for	ADP
cblr-2899	684	35	issuing	issue	VERB
cblr-2899	684	36	public	public	ADJ
cblr-2899	684	37	debt	debt	NOUN
cblr-2899	684	38	.	.	PUNCT
cblr-2899	685	1	most	most	ADV
cblr-2899	685	2	importantly	importantly	ADV
cblr-2899	685	3	,	,	PUNCT
cblr-2899	685	4	this	this	PRON
cblr-2899	685	5	would	would	AUX
cblr-2899	685	6	ensure	ensure	VERB
cblr-2899	685	7	an	an	DET
cblr-2899	685	8	investor	investor	NOUN
cblr-2899	685	9	's	's	PART
cblr-2899	685	10	vote	vote	NOUN
cblr-2899	685	11	and	and	CCONJ
cblr-2899	685	12	that	that	SCONJ
cblr-2899	685	13	the	the	DET
cblr-2899	685	14	penalty	penalty	NOUN
cblr-2899	685	15	requiring	require	VERB
cblr-2899	685	16	mandatory	mandatory	ADJ
cblr-2899	685	17	purchase	purchase	NOUN
cblr-2899	685	18	of	of	ADP
cblr-2899	685	19	a	a	DET
cblr-2899	685	20	second	second	ADJ
cblr-2899	685	21	rating	rating	NOUN
cblr-2899	685	22	(	(	PUNCT
cblr-2899	685	23	if	if	SCONJ
cblr-2899	685	24	the	the	DET
cblr-2899	685	25	cra	cra	PROPN
cblr-2899	685	26	selected	select	VERB
cblr-2899	685	27	falls	fall	VERB
cblr-2899	685	28	below	below	ADP
cblr-2899	685	29	the	the	DET
cblr-2899	685	30	top	top	ADJ
cblr-2899	685	31	three	three	NUM
cblr-2899	685	32	cras	cra	NOUN
cblr-2899	685	33	ranked	rank	VERB
cblr-2899	685	34	by	by	ADP
cblr-2899	685	35	the	the	DET
cblr-2899	685	36	governmental	governmental	ADJ
cblr-2899	685	37	agency	agency	NOUN
cblr-2899	685	38	or	or	CCONJ
cblr-2899	685	39	self	self	NOUN
cblr-2899	685	40	-	-	PUNCT
cblr-2899	685	41	regulatory	regulatory	ADJ
cblr-2899	685	42	agency	agency	NOUN
cblr-2899	685	43	in	in	ADP
cblr-2899	685	44	part	part	NOUN
cblr-2899	685	45	(	(	PUNCT
cblr-2899	685	46	2	2	NUM
cblr-2899	685	47	)	)	PUNCT
cblr-2899	685	48	of	of	ADP
cblr-2899	685	49	this	this	DET
cblr-2899	685	50	proposal	proposal	NOUN
cblr-2899	685	51	)	)	PUNCT
cblr-2899	685	52	would	would	AUX
cblr-2899	685	53	be	be	AUX
cblr-2899	685	54	enforced	enforce	VERB
cblr-2899	685	55	.	.	PUNCT
cblr-2899	686	1	although	although	SCONJ
cblr-2899	686	2	this	this	PRON
cblr-2899	686	3	would	would	AUX
cblr-2899	686	4	directly	directly	ADV
cblr-2899	686	5	impact	impact	VERB
cblr-2899	686	6	only	only	ADV
cblr-2899	686	7	public	public	ADJ
cblr-2899	686	8	issuances	issuance	NOUN
cblr-2899	686	9	,	,	PUNCT
cblr-2899	686	10	the	the	DET
cblr-2899	686	11	hope	hope	NOUN
cblr-2899	686	12	is	be	AUX
cblr-2899	686	13	that	that	SCONJ
cblr-2899	686	14	the	the	DET
cblr-2899	686	15	rules	rule	NOUN
cblr-2899	686	16	will	will	AUX
cblr-2899	686	17	become	become	VERB
cblr-2899	686	18	a	a	DET
cblr-2899	686	19	best	good	ADJ
cblr-2899	686	20	practice	practice	NOUN
cblr-2899	686	21	in	in	ADP
cblr-2899	686	22	the	the	DET
cblr-2899	686	23	industry	industry	NOUN
cblr-2899	686	24	of	of	ADP
cblr-2899	686	25	debt	debt	NOUN
cblr-2899	686	26	issuances	issuance	NOUN
cblr-2899	686	27	,	,	PUNCT
cblr-2899	686	28	and	and	CCONJ
cblr-2899	686	29	that	that	SCONJ
cblr-2899	686	30	this	this	PRON
cblr-2899	686	31	will	will	AUX
cblr-2899	686	32	have	have	VERB
cblr-2899	686	33	a	a	DET
cblr-2899	686	34	knock	knock	VERB
cblr-2899	686	35	-	-	PUNCT
cblr-2899	686	36	on	on	ADP
cblr-2899	686	37	effect	effect	NOUN
cblr-2899	686	38	in	in	ADP
cblr-2899	686	39	the	the	DET
cblr-2899	686	40	private	private	ADJ
cblr-2899	686	41	markets	market	NOUN
cblr-2899	686	42	without	without	ADP
cblr-2899	686	43	a	a	DET
cblr-2899	686	44	need	need	NOUN
cblr-2899	686	45	to	to	PART
cblr-2899	686	46	promulgate	promulgate	VERB
cblr-2899	686	47	extra	extra	ADJ
cblr-2899	686	48	rules	rule	NOUN
cblr-2899	686	49	for	for	ADP
cblr-2899	686	50	those	those	DET
cblr-2899	686	51	markets	market	NOUN
cblr-2899	686	52	.	.	PUNCT
cblr-2899	687	1	however	however	ADV
cblr-2899	687	2	,	,	PUNCT
cblr-2899	687	3	if	if	SCONJ
cblr-2899	687	4	need	need	AUX
cblr-2899	687	5	be	be	AUX
cblr-2899	687	6	,	,	PUNCT
cblr-2899	687	7	the	the	DET
cblr-2899	687	8	sec	sec	PROPN
cblr-2899	687	9	could	could	AUX
cblr-2899	687	10	promulgate	promulgate	VERB
cblr-2899	687	11	such	such	ADJ
cblr-2899	687	12	rules	rule	NOUN
cblr-2899	687	13	for	for	ADP
cblr-2899	687	14	private	private	ADJ
cblr-2899	687	15	issuances	issuance	NOUN
cblr-2899	687	16	as	as	ADV
cblr-2899	687	17	well	well	ADV
cblr-2899	687	18	,	,	PUNCT
cblr-2899	687	19	for	for	ADP
cblr-2899	687	20	example	example	NOUN
cblr-2899	687	21	,	,	PUNCT
cblr-2899	687	22	as	as	ADP
cblr-2899	687	23	a	a	DET
cblr-2899	687	24	condition	condition	NOUN
cblr-2899	687	25	for	for	ADP
cblr-2899	687	26	relying	rely	VERB
cblr-2899	687	27	on	on	ADP
cblr-2899	687	28	rule	rule	NOUN
cblr-2899	687	29	144a	144a	PROPN
cblr-2899	687	30	for	for	ADP
cblr-2899	687	31	private	private	ADJ
cblr-2899	687	32	debt	debt	NOUN
cblr-2899	687	33	issuances	issuance	NOUN
cblr-2899	687	34	.	.	PUNCT
cblr-2899	688	1	181	181	NUM
cblr-2899	688	2	this	this	DET
cblr-2899	688	3	arrangement	arrangement	NOUN
cblr-2899	688	4	would	would	AUX
cblr-2899	688	5	also	also	ADV
cblr-2899	688	6	provide	provide	VERB
cblr-2899	688	7	a	a	DET
cblr-2899	688	8	solution	solution	NOUN
cblr-2899	688	9	to	to	ADP
cblr-2899	688	10	the	the	DET
cblr-2899	688	11	problem	problem	NOUN
cblr-2899	688	12	that	that	PRON
cblr-2899	688	13	developed	develop	VERB
cblr-2899	688	14	after	after	SCONJ
cblr-2899	688	15	congress	congress	PROPN
cblr-2899	688	16	enacted	enact	VERB
cblr-2899	688	17	a	a	DET
cblr-2899	688	18	provision	provision	NOUN
cblr-2899	688	19	in	in	ADP
cblr-2899	688	20	179	179	NUM
cblr-2899	688	21	coffee	coffee	NOUN
cblr-2899	688	22	,	,	PUNCT
cblr-2899	688	23	supra	supra	PROPN
cblr-2899	688	24	note	note	NOUN
cblr-2899	688	25	33	33	NUM
cblr-2899	688	26	,	,	PUNCT
cblr-2899	688	27	at	at	ADP
cblr-2899	688	28	259	259	NUM
cblr-2899	688	29	n.72	n.72	NOUN
cblr-2899	688	30	.	.	PROPN
cblr-2899	688	31	180	180	NUM
cblr-2899	688	32	lynn	lynn	PROPN
cblr-2899	688	33	bai	bai	PROPN
cblr-2899	688	34	,	,	PUNCT
cblr-2899	688	35	on	on	ADP
cblr-2899	688	36	regulating	regulate	VERB
cblr-2899	688	37	conflicts	conflict	NOUN
cblr-2899	688	38	of	of	ADP
cblr-2899	688	39	interest	interest	NOUN
cblr-2899	688	40	in	in	ADP
cblr-2899	688	41	the	the	DET
cblr-2899	688	42	credit	credit	NOUN
cblr-2899	688	43	rating	rating	NOUN
cblr-2899	688	44	industry	industry	NOUN
cblr-2899	688	45	,	,	PUNCT
cblr-2899	688	46	13	13	NUM
cblr-2899	688	47	n.y.u	n.y.u	NOUN
cblr-2899	688	48	.	.	PUNCT
cblr-2899	689	1	j.	j.	PROPN
cblr-2899	689	2	legis	legis	PROPN
cblr-2899	689	3	.	.	PUNCT
cblr-2899	689	4	&	&	CCONJ
cblr-2899	689	5	pup	pup	PROPN
cblr-2899	689	6	.	.	PUNCT
cblr-2899	690	1	pol'y	pol'y	NOUN
cblr-2899	690	2	253	253	NUM
cblr-2899	690	3	,	,	PUNCT
cblr-2899	690	4	266	266	NUM
cblr-2899	690	5	(	(	PUNCT
cblr-2899	690	6	2010	2010	NUM
cblr-2899	690	7	)	)	PUNCT
cblr-2899	690	8	.	.	PUNCT
cblr-2899	691	1	181	181	NUM
cblr-2899	691	2	17	17	NUM
cblr-2899	691	3	c.f.r	c.f.r	NOUN
cblr-2899	691	4	.	.	PUNCT
cblr-2899	692	1	§	§	VERB
cblr-2899	692	2	230.144a	230.144a	NUM
cblr-2899	692	3	(	(	PUNCT
cblr-2899	692	4	2012	2012	NUM
cblr-2899	692	5	)	)	PUNCT
cblr-2899	692	6	.	.	PUNCT
cblr-2899	693	1	col	col	PROPN
cblr-2899	693	2	umbia	umbia	PROPN
cblr-2899	693	3	b	b	PROPN
cblr-2899	693	4	usiness	usiness	PROPN
cblr-2899	693	5	la	la	PROPN
cblr-2899	693	6	w	w	PROPN
cblr-2899	693	7	re	re	PROPN
cblr-2899	693	8	vie	vie	PROPN
cblr-2899	693	9	w	w	PROPN
cblr-2899	694	1	[	[	X
cblr-2899	694	2	vol	vol	NOUN
cblr-2899	694	3	.	.	PUNCT
cblr-2899	694	4	20121042	20121042	NUM
cblr-2899	694	5	dodd	dodd	PROPN
cblr-2899	694	6	-	-	PUNCT
cblr-2899	694	7	frank	frank	PROPN
cblr-2899	694	8	making	make	VERB
cblr-2899	694	9	cras	cras	PROPN
cblr-2899	694	10	liable	liable	ADJ
cblr-2899	694	11	for	for	ADP
cblr-2899	694	12	ratings	rating	NOUN
cblr-2899	694	13	included	include	VERB
cblr-2899	694	14	in	in	ADP
cblr-2899	694	15	registration	registration	NOUN
cblr-2899	694	16	statements	statement	NOUN
cblr-2899	694	17	in	in	ADP
cblr-2899	694	18	the	the	DET
cblr-2899	694	19	same	same	ADJ
cblr-2899	694	20	way	way	NOUN
cblr-2899	694	21	accountants	accountant	NOUN
cblr-2899	694	22	are	be	AUX
cblr-2899	694	23	for	for	ADP
cblr-2899	694	24	their	their	PRON
cblr-2899	694	25	audits	audits	NOUN
cblr-2899	694	26	.	.	PUNCT
cblr-2899	695	1	this	this	PRON
cblr-2899	695	2	resulted	result	VERB
cblr-2899	695	3	in	in	ADP
cblr-2899	695	4	nrsros	nrsro	NOUN
cblr-2899	695	5	refusing	refuse	VERB
cblr-2899	695	6	to	to	PART
cblr-2899	695	7	give	give	VERB
cblr-2899	695	8	issuers	issuer	NOUN
cblr-2899	695	9	the	the	DET
cblr-2899	695	10	required	require	VERB
cblr-2899	695	11	consent	consent	NOUN
cblr-2899	695	12	to	to	PART
cblr-2899	695	13	use	use	VERB
cblr-2899	695	14	their	their	PRON
cblr-2899	695	15	ratings	rating	NOUN
cblr-2899	695	16	in	in	ADP
cblr-2899	695	17	their	their	PRON
cblr-2899	695	18	registration	registration	NOUN
cblr-2899	695	19	statements	statement	NOUN
cblr-2899	695	20	.	.	PUNCT
cblr-2899	696	1	182	182	NUM
cblr-2899	696	2	if	if	SCONJ
cblr-2899	696	3	this	this	DET
cblr-2899	696	4	proposal	proposal	NOUN
cblr-2899	696	5	is	be	AUX
cblr-2899	696	6	implemented	implement	VERB
cblr-2899	696	7	,	,	PUNCT
cblr-2899	696	8	the	the	DET
cblr-2899	696	9	hope	hope	NOUN
cblr-2899	696	10	is	be	AUX
cblr-2899	696	11	that	that	SCONJ
cblr-2899	696	12	ratings	rating	NOUN
cblr-2899	696	13	will	will	AUX
cblr-2899	696	14	be	be	AUX
cblr-2899	696	15	more	more	ADV
cblr-2899	696	16	reliable	reliable	ADJ
cblr-2899	696	17	,	,	PUNCT
cblr-2899	696	18	and	and	CCONJ
cblr-2899	696	19	that	that	SCONJ
cblr-2899	696	20	the	the	DET
cblr-2899	696	21	sec	sec	PROPN
cblr-2899	696	22	could	could	AUX
cblr-2899	696	23	therefore	therefore	ADV
cblr-2899	696	24	simply	simply	ADV
cblr-2899	696	25	allow	allow	VERB
cblr-2899	696	26	issuers	issuer	NOUN
cblr-2899	696	27	to	to	PART
cblr-2899	696	28	provide	provide	VERB
cblr-2899	696	29	the	the	DET
cblr-2899	696	30	ratings	rating	NOUN
cblr-2899	696	31	in	in	ADP
cblr-2899	696	32	their	their	PRON
cblr-2899	696	33	registration	registration	NOUN
cblr-2899	696	34	statements	statement	NOUN
cblr-2899	696	35	even	even	ADV
cblr-2899	696	36	without	without	ADP
cblr-2899	696	37	the	the	DET
cblr-2899	696	38	cra	cra	PROPN
cblr-2899	696	39	's	's	PART
cblr-2899	696	40	consent	consent	NOUN
cblr-2899	696	41	,	,	PUNCT
cblr-2899	696	42	provided	provide	VERB
cblr-2899	696	43	issuers	issuer	NOUN
cblr-2899	696	44	follow	follow	VERB
cblr-2899	696	45	the	the	DET
cblr-2899	696	46	rules	rule	NOUN
cblr-2899	696	47	laid	lay	VERB
cblr-2899	696	48	out	out	ADP
cblr-2899	696	49	in	in	ADP
cblr-2899	696	50	this	this	DET
cblr-2899	696	51	proposal	proposal	NOUN
cblr-2899	696	52	.	.	PUNCT
cblr-2899	697	1	enforcement	enforcement	NOUN
cblr-2899	697	2	responsibilities	responsibility	NOUN
cblr-2899	697	3	could	could	AUX
cblr-2899	697	4	also	also	ADV
cblr-2899	697	5	be	be	AUX
cblr-2899	697	6	passed	pass	VERB
cblr-2899	697	7	on	on	ADP
cblr-2899	697	8	to	to	ADP
cblr-2899	697	9	a	a	DET
cblr-2899	697	10	self	self	NOUN
cblr-2899	697	11	-	-	PUNCT
cblr-2899	697	12	regulatory	regulatory	ADJ
cblr-2899	697	13	organization	organization	NOUN
cblr-2899	697	14	such	such	ADJ
cblr-2899	697	15	as	as	ADP
cblr-2899	697	16	finra	finra	PROPN
cblr-2899	697	17	instead	instead	ADV
cblr-2899	697	18	of	of	ADP
cblr-2899	697	19	the	the	DET
cblr-2899	697	20	sec	sec	PROPN
cblr-2899	697	21	.	.	PUNCT
cblr-2899	698	1	it	it	PRON
cblr-2899	698	2	is	be	AUX
cblr-2899	698	3	important	important	ADJ
cblr-2899	698	4	to	to	PART
cblr-2899	698	5	note	note	VERB
cblr-2899	698	6	that	that	SCONJ
cblr-2899	698	7	the	the	DET
cblr-2899	698	8	extent	extent	NOUN
cblr-2899	698	9	to	to	PART
cblr-2899	698	10	which	which	PRON
cblr-2899	698	11	the	the	DET
cblr-2899	698	12	sec	sec	PROPN
cblr-2899	698	13	's	's	PART
cblr-2899	698	14	existing	exist	VERB
cblr-2899	698	15	statutory	statutory	ADJ
cblr-2899	698	16	authority	authority	NOUN
cblr-2899	698	17	would	would	AUX
cblr-2899	698	18	allow	allow	VERB
cblr-2899	698	19	it	it	PRON
cblr-2899	698	20	to	to	PART
cblr-2899	698	21	act	act	VERB
cblr-2899	698	22	itself	itself	PRON
cblr-2899	698	23	or	or	CCONJ
cblr-2899	698	24	to	to	PART
cblr-2899	698	25	create	create	VERB
cblr-2899	698	26	a	a	DET
cblr-2899	698	27	self	self	NOUN
cblr-2899	698	28	-	-	PUNCT
cblr-2899	698	29	regulatory	regulatory	ADJ
cblr-2899	698	30	organization	organization	NOUN
cblr-2899	698	31	that	that	PRON
cblr-2899	698	32	could	could	AUX
cblr-2899	698	33	enforce	enforce	VERB
cblr-2899	698	34	such	such	ADJ
cblr-2899	698	35	requirements	requirement	NOUN
cblr-2899	698	36	and	and	CCONJ
cblr-2899	698	37	function	function	NOUN
cblr-2899	698	38	as	as	SCONJ
cblr-2899	698	39	the	the	DET
cblr-2899	698	40	"	"	PUNCT
cblr-2899	698	41	rater	rater	NOUN
cblr-2899	698	42	of	of	ADP
cblr-2899	698	43	rating	rating	NOUN
cblr-2899	698	44	agencies	agency	NOUN
cblr-2899	698	45	"	"	PUNCT
cblr-2899	698	46	is	be	AUX
cblr-2899	698	47	a	a	DET
cblr-2899	698	48	complex	complex	ADJ
cblr-2899	698	49	issue	issue	NOUN
cblr-2899	698	50	.	.	PUNCT
cblr-2899	699	1	if	if	SCONJ
cblr-2899	699	2	there	there	PRON
cblr-2899	699	3	is	be	VERB
cblr-2899	699	4	no	no	DET
cblr-2899	699	5	such	such	ADJ
cblr-2899	699	6	authority	authority	NOUN
cblr-2899	699	7	,	,	PUNCT
cblr-2899	699	8	passing	pass	VERB
cblr-2899	699	9	new	new	ADJ
cblr-2899	699	10	legislation	legislation	NOUN
cblr-2899	699	11	that	that	PRON
cblr-2899	699	12	must	must	AUX
cblr-2899	699	13	get	get	VERB
cblr-2899	699	14	through	through	ADP
cblr-2899	699	15	congress	congress	PROPN
cblr-2899	699	16	will	will	AUX
cblr-2899	699	17	be	be	AUX
cblr-2899	699	18	very	very	ADV
cblr-2899	699	19	difficult	difficult	ADJ
cblr-2899	699	20	and	and	CCONJ
cblr-2899	699	21	time	time	NOUN
cblr-2899	699	22	consuming	consume	VERB
cblr-2899	699	23	.	.	PUNCT
cblr-2899	700	1	additionally	additionally	ADV
cblr-2899	700	2	,	,	PUNCT
cblr-2899	700	3	even	even	ADV
cblr-2899	700	4	if	if	SCONJ
cblr-2899	700	5	created	create	VERB
cblr-2899	700	6	lawfully	lawfully	ADV
cblr-2899	700	7	,	,	PUNCT
cblr-2899	700	8	there	there	PRON
cblr-2899	700	9	may	may	AUX
cblr-2899	700	10	be	be	AUX
cblr-2899	700	11	certain	certain	ADJ
cblr-2899	700	12	limitations	limitation	NOUN
cblr-2899	700	13	on	on	ADP
cblr-2899	700	14	the	the	DET
cblr-2899	700	15	ability	ability	NOUN
cblr-2899	700	16	of	of	ADP
cblr-2899	700	17	a	a	DET
cblr-2899	700	18	self	self	NOUN
cblr-2899	700	19	-	-	PUNCT
cblr-2899	700	20	regulatory	regulatory	ADJ
cblr-2899	700	21	organization	organization	NOUN
cblr-2899	700	22	to	to	PART
cblr-2899	700	23	seek	seek	VERB
cblr-2899	700	24	judicial	judicial	ADJ
cblr-2899	700	25	enforcement	enforcement	NOUN
cblr-2899	700	26	of	of	ADP
cblr-2899	700	27	their	their	PRON
cblr-2899	700	28	rules	rule	NOUN
cblr-2899	700	29	and	and	CCONJ
cblr-2899	700	30	requirements	requirement	NOUN
cblr-2899	700	31	.	.	PUNCT
cblr-2899	701	1	for	for	ADP
cblr-2899	701	2	instance	instance	NOUN
cblr-2899	701	3	,	,	PUNCT
cblr-2899	701	4	in	in	ADP
cblr-2899	701	5	october	october	PROPN
cblr-2899	701	6	2011	2011	NUM
cblr-2899	701	7	,	,	PUNCT
cblr-2899	701	8	the	the	DET
cblr-2899	701	9	second	second	ADJ
cblr-2899	701	10	circuit	circuit	NOUN
cblr-2899	701	11	held	hold	VERB
cblr-2899	701	12	in	in	ADP
cblr-2899	701	13	fiero	fiero	PROPN
cblr-2899	701	14	v.	v.	PROPN
cblr-2899	701	15	finra	finra	PROPN
cblr-2899	701	16	that	that	SCONJ
cblr-2899	701	17	finra	finra	PROPN
cblr-2899	701	18	lacks	lack	VERB
cblr-2899	701	19	the	the	DET
cblr-2899	701	20	statutory	statutory	ADJ
cblr-2899	701	21	authority	authority	NOUN
cblr-2899	701	22	to	to	PART
cblr-2899	701	23	bring	bring	VERB
cblr-2899	701	24	court	court	NOUN
cblr-2899	701	25	actions	action	NOUN
cblr-2899	701	26	to	to	PART
cblr-2899	701	27	collect	collect	VERB
cblr-2899	701	28	disciplinary	disciplinary	ADJ
cblr-2899	701	29	fines	fine	NOUN
cblr-2899	701	30	it	it	PRON
cblr-2899	701	31	imposed	impose	VERB
cblr-2899	701	32	on	on	ADP
cblr-2899	701	33	its	its	PRON
cblr-2899	701	34	members	member	NOUN
cblr-2899	701	35	,	,	PUNCT
cblr-2899	701	36	even	even	ADV
cblr-2899	701	37	though	though	SCONJ
cblr-2899	701	38	it	it	PRON
cblr-2899	701	39	does	do	AUX
cblr-2899	701	40	have	have	VERB
cblr-2899	701	41	the	the	DET
cblr-2899	701	42	power	power	NOUN
cblr-2899	701	43	to	to	PART
cblr-2899	701	44	impose	impose	VERB
cblr-2899	701	45	such	such	ADJ
cblr-2899	701	46	fines.183	fines.183	NOUN
cblr-2899	701	47	182	182	NUM
cblr-2899	701	48	see	see	NOUN
cblr-2899	701	49	supra	supra	PROPN
cblr-2899	701	50	part	part	NOUN
cblr-2899	701	51	vi.a	vi.a	PROPN
cblr-2899	701	52	.	.	PUNCT
cblr-2899	702	1	(	(	PUNCT
cblr-2899	702	2	item	item	NOUN
cblr-2899	702	3	three	three	NUM
cblr-2899	702	4	in	in	ADP
cblr-2899	702	5	the	the	DET
cblr-2899	702	6	list	list	NOUN
cblr-2899	702	7	of	of	ADP
cblr-2899	702	8	new	new	ADJ
cblr-2899	702	9	dodd	dodd	PROPN
cblr-2899	702	10	-	-	PUNCT
cblr-2899	702	11	frank	frank	ADJ
cblr-2899	702	12	provisions	provision	NOUN
cblr-2899	702	13	)	)	PUNCT
cblr-2899	702	14	.	.	PUNCT
cblr-2899	703	1	183	183	NUM
cblr-2899	703	2	660	660	NUM
cblr-2899	703	3	f.3d	f.3d	NUM
cblr-2899	703	4	569	569	NUM
cblr-2899	703	5	,	,	PUNCT
cblr-2899	703	6	574	574	NUM
cblr-2899	703	7	(	(	PUNCT
cblr-2899	703	8	2d	2d	NUM
cblr-2899	703	9	cir	cir	NOUN
cblr-2899	703	10	.	.	PUNCT
cblr-2899	703	11	2011	2011	NUM
cblr-2899	703	12	)	)	PUNCT
cblr-2899	703	13	.	.	PUNCT
cblr-2899	704	1	in	in	ADP
cblr-2899	704	2	particular	particular	ADJ
cblr-2899	704	3	,	,	PUNCT
cblr-2899	704	4	the	the	DET
cblr-2899	704	5	court	court	NOUN
cblr-2899	704	6	held	hold	VERB
cblr-2899	704	7	that	that	SCONJ
cblr-2899	704	8	the	the	DET
cblr-2899	704	9	1934	1934	NUM
cblr-2899	704	10	act	act	NOUN
cblr-2899	704	11	did	do	AUX
cblr-2899	704	12	not	not	PART
cblr-2899	704	13	provide	provide	VERB
cblr-2899	704	14	this	this	DET
cblr-2899	704	15	authority	authority	NOUN
cblr-2899	704	16	to	to	ADP
cblr-2899	704	17	finra	finra	PROPN
cblr-2899	704	18	.	.	PUNCT
cblr-2899	705	1	i	i	PRON
cblr-2899	705	2	d.	d.	PROPN
cblr-2899	705	3	at	at	ADP
cblr-2899	705	4	574	574	NUM
cblr-2899	705	5	-	-	SYM
cblr-2899	705	6	77	77	NUM
cblr-2899	705	7	.	.	PUNCT
cblr-2899	706	1	under	under	ADP
cblr-2899	706	2	section	section	NOUN
cblr-2899	706	3	15a(b	15a(b	NUM
cblr-2899	706	4	)	)	PUNCT
cblr-2899	706	5	of	of	ADP
cblr-2899	706	6	the	the	DET
cblr-2899	706	7	1934	1934	NUM
cblr-2899	706	8	act	act	NOUN
cblr-2899	706	9	,	,	PUNCT
cblr-2899	706	10	self	self	NOUN
cblr-2899	706	11	-	-	PUNCT
cblr-2899	706	12	regulatory	regulatory	ADJ
cblr-2899	706	13	organizations	organization	NOUN
cblr-2899	707	1	[	[	X
cblr-2899	707	2	sros	sros	X
cblr-2899	707	3	]	]	PUNCT
cblr-2899	707	4	have	have	VERB
cblr-2899	707	5	statutory	statutory	ADJ
cblr-2899	707	6	authority	authority	NOUN
cblr-2899	707	7	to	to	PART
cblr-2899	707	8	"	"	PUNCT
cblr-2899	707	9	appropriately	appropriately	ADV
cblr-2899	707	10	discipline	discipline	VERB
cblr-2899	707	11	[	[	X
cblr-2899	707	12	"	"	PUNCT
cblr-2899	707	13	their	their	PRON
cblr-2899	707	14	members	member	NOUN
cblr-2899	707	15	for	for	ADP
cblr-2899	707	16	violating	violate	VERB
cblr-2899	707	17	the	the	DET
cblr-2899	707	18	federal	federal	ADJ
cblr-2899	707	19	securities	security	NOUN
cblr-2899	707	20	laws	law	NOUN
cblr-2899	707	21	or	or	CCONJ
cblr-2899	707	22	their	their	PRON
cblr-2899	707	23	own	own	ADJ
cblr-2899	707	24	rules	rule	NOUN
cblr-2899	707	25	by	by	ADP
cblr-2899	707	26	"	"	PUNCT
cblr-2899	707	27	expulsion	expulsion	NOUN
cblr-2899	707	28	,	,	PUNCT
cblr-2899	707	29	suspension	suspension	NOUN
cblr-2899	707	30	,	,	PUNCT
cblr-2899	707	31	limitation	limitation	NOUN
cblr-2899	707	32	of	of	ADP
cblr-2899	707	33	activities	activity	NOUN
cblr-2899	707	34	,	,	PUNCT
cblr-2899	707	35	functions	function	NOUN
cblr-2899	707	36	,	,	PUNCT
cblr-2899	707	37	and	and	CCONJ
cblr-2899	707	38	operations	operation	NOUN
cblr-2899	707	39	,	,	PUNCT
cblr-2899	707	40	fine	fine	ADJ
cblr-2899	707	41	,	,	PUNCT
cblr-2899	707	42	censure	censure	NOUN
cblr-2899	707	43	,	,	PUNCT
cblr-2899	707	44	being	be	AUX
cblr-2899	707	45	suspended	suspend	VERB
cblr-2899	707	46	or	or	CCONJ
cblr-2899	707	47	barred	bar	VERB
cblr-2899	707	48	from	from	ADP
cblr-2899	707	49	being	be	AUX
cblr-2899	707	50	associated	associate	VERB
cblr-2899	707	51	with	with	ADP
cblr-2899	707	52	a	a	DET
cblr-2899	707	53	member	member	NOUN
cblr-2899	707	54	,	,	PUNCT
cblr-2899	707	55	or	or	CCONJ
cblr-2899	707	56	any	any	DET
cblr-2899	707	57	other	other	ADJ
cblr-2899	707	58	fitting	fitting	ADJ
cblr-2899	707	59	sanction	sanction	NOUN
cblr-2899	707	60	.	.	PUNCT
cblr-2899	707	61	"	"	PUNCT
cblr-2899	708	1	15	15	NUM
cblr-2899	708	2	u.s.c	u.s.c	NOUN
cblr-2899	708	3	.	.	PUNCT
cblr-2899	709	1	§	§	PROPN
cblr-2899	709	2	78o-3(b)(7	78o-3(b)(7	NUM
cblr-2899	709	3	)	)	PUNCT
cblr-2899	709	4	(	(	PUNCT
cblr-2899	709	5	2012	2012	NUM
cblr-2899	709	6	)	)	PUNCT
cblr-2899	709	7	.	.	PUNCT
cblr-2899	710	1	but	but	CCONJ
cblr-2899	710	2	,	,	PUNCT
cblr-2899	710	3	the	the	DET
cblr-2899	710	4	court	court	NOUN
cblr-2899	710	5	noted	note	VERB
cblr-2899	710	6	,	,	PUNCT
cblr-2899	710	7	"	"	PUNCT
cblr-2899	710	8	there	there	PRON
cblr-2899	710	9	is	be	VERB
cblr-2899	710	10	no	no	DET
cblr-2899	710	11	express	express	ADJ
cblr-2899	710	12	statutory	statutory	ADJ
cblr-2899	710	13	authority	authority	NOUN
cblr-2899	710	14	for	for	ADP
cblr-2899	710	15	sro	sro	PROPN
cblr-2899	710	16	's	's	PART
cblr-2899	710	17	[	[	X
cblr-2899	710	18	sic	sic	NOUN
cblr-2899	710	19	]	]	PUNCT
cblr-2899	710	20	to	to	PART
cblr-2899	710	21	bring	bring	VERB
cblr-2899	710	22	judicial	judicial	ADJ
cblr-2899	710	23	actions	action	NOUN
cblr-2899	710	24	to	to	PART
cblr-2899	710	25	enforce	enforce	VERB
cblr-2899	710	26	the	the	DET
cblr-2899	710	27	collection	collection	NOUN
cblr-2899	710	28	of	of	ADP
cblr-2899	710	29	fines	fine	NOUN
cblr-2899	710	30	,	,	PUNCT
cblr-2899	710	31	"	"	PUNCT
cblr-2899	710	32	and	and	CCONJ
cblr-2899	710	33	it	it	PRON
cblr-2899	710	34	stated	state	VERB
cblr-2899	710	35	in	in	ADP
cblr-2899	710	36	a	a	DET
cblr-2899	710	37	footnote	footnote	NOUN
cblr-2899	710	38	that	that	SCONJ
cblr-2899	710	39	"	"	PUNCT
cblr-2899	710	40	the	the	DET
cblr-2899	710	41	power	power	NOUN
cblr-2899	710	42	granted	grant	VERB
cblr-2899	710	43	to	to	PART
cblr-2899	710	44	sro	sro	VERB
cblr-2899	710	45	's	's	PART
cblr-2899	710	46	[	[	X
cblr-2899	710	47	sic	sic	NOUN
cblr-2899	710	48	]	]	PUNCT
cblr-2899	710	49	by	by	ADP
cblr-2899	710	50	section	section	NOUN
cblr-2899	710	51	15a	15a	NOUN
cblr-2899	710	52	of	of	ADP
cblr-2899	710	53	the	the	DET
cblr-2899	710	54	reg	reg	PROPN
cblr-2899	710	55	ula	ula	PROPN
cblr-2899	710	56	ting	ting	PROPN
cblr-2899	710	57	credit	credit	NOUN
cblr-2899	710	58	rating	rating	NOUN
cblr-2899	710	59	agencies	agency	NOUN
cblr-2899	710	60	1043no	1043no	PROPN
cblr-2899	710	61	.	.	PUNCT
cblr-2899	711	1	3:9941	3:9941	NUM
cblr-2899	711	2	columbia	columbia	PROPN
cblr-2899	711	3	business	business	NOUN
cblr-2899	711	4	law	law	PROPN
cblr-2899	711	5	review	review	NOUN
cblr-2899	711	6	[	[	PUNCT
cblr-2899	711	7	d.	d.	NOUN
cblr-2899	711	8	a	a	DET
cblr-2899	711	9	key	key	ADJ
cblr-2899	711	10	difference	difference	NOUN
cblr-2899	711	11	between	between	ADP
cblr-2899	711	12	the	the	DET
cblr-2899	711	13	new	new	ADJ
cblr-2899	711	14	proposal	proposal	NOUN
cblr-2899	711	15	and	and	CCONJ
cblr-2899	711	16	the	the	DET
cblr-2899	711	17	franken	franken	PROPN
cblr-2899	711	18	proposal	proposal	NOUN
cblr-2899	711	19	the	the	DET
cblr-2899	711	20	key	key	ADJ
cblr-2899	711	21	difference	difference	NOUN
cblr-2899	711	22	between	between	ADP
cblr-2899	711	23	this	this	DET
cblr-2899	711	24	new	new	ADJ
cblr-2899	711	25	,	,	PUNCT
cblr-2899	711	26	three	three	NUM
cblr-2899	711	27	-	-	PUNCT
cblr-2899	711	28	step	step	NOUN
cblr-2899	711	29	proposal	proposal	NOUN
cblr-2899	711	30	and	and	CCONJ
cblr-2899	711	31	the	the	DET
cblr-2899	711	32	version	version	NOUN
cblr-2899	711	33	of	of	ADP
cblr-2899	711	34	the	the	DET
cblr-2899	711	35	franken	franken	PROPN
cblr-2899	711	36	proposal	proposal	NOUN
cblr-2899	711	37	that	that	PRON
cblr-2899	711	38	would	would	AUX
cblr-2899	711	39	have	have	VERB
cblr-2899	711	40	a	a	DET
cblr-2899	711	41	board	board	NOUN
cblr-2899	711	42	assign	assign	NOUN
cblr-2899	711	43	rating	rating	NOUN
cblr-2899	711	44	contracts	contract	NOUN
cblr-2899	711	45	to	to	ADP
cblr-2899	711	46	nrsros	nrsros	PROPN
cblr-2899	711	47	based	base	VERB
cblr-2899	711	48	on	on	ADP
cblr-2899	711	49	quality	quality	NOUN
cblr-2899	711	50	measures	measure	NOUN
cblr-2899	711	51	184	184	NUM
cblr-2899	711	52	is	be	AUX
cblr-2899	711	53	that	that	SCONJ
cblr-2899	711	54	in	in	ADP
cblr-2899	711	55	this	this	DET
cblr-2899	711	56	model	model	NOUN
cblr-2899	711	57	,	,	PUNCT
cblr-2899	711	58	the	the	DET
cblr-2899	711	59	market	market	NOUN
cblr-2899	711	60	-	-	PUNCT
cblr-2899	711	61	not	not	PART
cblr-2899	711	62	the	the	DET
cblr-2899	711	63	government	government	NOUN
cblr-2899	711	64	-	-	PUNCT
cblr-2899	711	65	identifies	identifie	NOUN
cblr-2899	711	66	and	and	CCONJ
cblr-2899	711	67	awards	award	NOUN
cblr-2899	711	68	the	the	DET
cblr-2899	711	69	cras	cras	X
cblr-2899	711	70	providing	provide	VERB
cblr-2899	711	71	the	the	DET
cblr-2899	711	72	highest	high	ADJ
cblr-2899	711	73	-	-	PUNCT
cblr-2899	711	74	quality	quality	NOUN
cblr-2899	711	75	services	service	NOUN
cblr-2899	711	76	.	.	PUNCT
cblr-2899	712	1	investors	investor	NOUN
cblr-2899	712	2	will	will	AUX
cblr-2899	712	3	vote	vote	VERB
cblr-2899	712	4	on	on	ADP
cblr-2899	712	5	the	the	DET
cblr-2899	712	6	cra	cra	NOUN
cblr-2899	712	7	they	they	PRON
cblr-2899	712	8	decide	decide	VERB
cblr-2899	712	9	is	be	AUX
cblr-2899	712	10	the	the	DET
cblr-2899	712	11	best	good	ADJ
cblr-2899	712	12	.	.	PUNCT
cblr-2899	713	1	as	as	ADP
cblr-2899	713	2	guidance	guidance	NOUN
cblr-2899	713	3	,	,	PUNCT
cblr-2899	713	4	they	they	PRON
cblr-2899	713	5	will	will	AUX
cblr-2899	713	6	receive	receive	VERB
cblr-2899	713	7	consolidated	consolidated	ADJ
cblr-2899	713	8	disclosure	disclosure	NOUN
cblr-2899	713	9	about	about	ADP
cblr-2899	713	10	the	the	DET
cblr-2899	713	11	"	"	PUNCT
cblr-2899	713	12	quality	quality	NOUN
cblr-2899	713	13	"	"	PUNCT
cblr-2899	713	14	of	of	ADP
cblr-2899	713	15	rating	rating	NOUN
cblr-2899	713	16	agencies	agency	NOUN
cblr-2899	713	17	from	from	ADP
cblr-2899	713	18	,	,	PUNCT
cblr-2899	713	19	ideally	ideally	ADV
cblr-2899	713	20	,	,	PUNCT
cblr-2899	713	21	an	an	DET
cblr-2899	713	22	independent	independent	ADJ
cblr-2899	713	23	self	self	NOUN
cblr-2899	713	24	-	-	PUNCT
cblr-2899	713	25	regulatory	regulatory	ADJ
cblr-2899	713	26	organization	organization	NOUN
cblr-2899	713	27	(	(	PUNCT
cblr-2899	713	28	not	not	PART
cblr-2899	713	29	tied	tie	VERB
cblr-2899	713	30	to	to	ADP
cblr-2899	713	31	the	the	DET
cblr-2899	713	32	government	government	NOUN
cblr-2899	713	33	)	)	PUNCT
cblr-2899	713	34	that	that	PRON
cblr-2899	713	35	ranks	rank	VERB
cblr-2899	713	36	the	the	DET
cblr-2899	713	37	cras	cra	NOUN
cblr-2899	713	38	by	by	ADP
cblr-2899	713	39	the	the	DET
cblr-2899	713	40	quality	quality	NOUN
cblr-2899	713	41	of	of	ADP
cblr-2899	713	42	their	their	PRON
cblr-2899	713	43	services	service	NOUN
cblr-2899	713	44	.	.	PUNCT
cblr-2899	714	1	however	however	ADV
cblr-2899	714	2	,	,	PUNCT
cblr-2899	714	3	the	the	DET
cblr-2899	714	4	quality	quality	NOUN
cblr-2899	714	5	determinations	determination	NOUN
cblr-2899	714	6	of	of	ADP
cblr-2899	714	7	the	the	DET
cblr-2899	714	8	self	self	NOUN
cblr-2899	714	9	-	-	PUNCT
cblr-2899	714	10	regulatory	regulatory	ADJ
cblr-2899	714	11	organization	organization	NOUN
cblr-2899	714	12	are	be	AUX
cblr-2899	714	13	not	not	PART
cblr-2899	714	14	binding	bind	VERB
cblr-2899	714	15	in	in	ADP
cblr-2899	714	16	the	the	DET
cblr-2899	714	17	sense	sense	NOUN
cblr-2899	714	18	that	that	SCONJ
cblr-2899	714	19	investors	investor	NOUN
cblr-2899	714	20	have	have	AUX
cblr-2899	714	21	a	a	DET
cblr-2899	714	22	choice	choice	NOUN
cblr-2899	714	23	to	to	PART
cblr-2899	714	24	disregard	disregard	VERB
cblr-2899	714	25	the	the	DET
cblr-2899	714	26	recommendations	recommendation	NOUN
cblr-2899	714	27	,	,	PUNCT
cblr-2899	714	28	albeit	albeit	SCONJ
cblr-2899	714	29	at	at	ADP
cblr-2899	714	30	the	the	DET
cblr-2899	714	31	expense	expense	NOUN
cblr-2899	714	32	of	of	ADP
cblr-2899	714	33	purchasing	purchase	VERB
cblr-2899	714	34	a	a	DET
cblr-2899	714	35	second	second	ADJ
cblr-2899	714	36	rating	rating	NOUN
cblr-2899	714	37	to	to	PART
cblr-2899	714	38	protect	protect	VERB
cblr-2899	714	39	against	against	ADP
cblr-2899	714	40	potential	potential	ADJ
cblr-2899	714	41	conflicts	conflict	NOUN
cblr-2899	714	42	of	of	ADP
cblr-2899	714	43	interest	interest	NOUN
cblr-2899	714	44	.	.	PUNCT
cblr-2899	715	1	cras	cras	PROPN
cblr-2899	715	2	may	may	AUX
cblr-2899	715	3	also	also	ADV
cblr-2899	715	4	have	have	VERB
cblr-2899	715	5	the	the	DET
cblr-2899	715	6	possibility	possibility	NOUN
cblr-2899	715	7	to	to	PART
cblr-2899	715	8	challenge	challenge	VERB
cblr-2899	715	9	ranking	ranking	NOUN
cblr-2899	715	10	decisions	decision	NOUN
cblr-2899	715	11	they	they	PRON
cblr-2899	715	12	disagree	disagree	VERB
cblr-2899	715	13	with	with	ADP
cblr-2899	715	14	.	.	PUNCT
cblr-2899	716	1	by	by	ADP
cblr-2899	716	2	contrast	contrast	NOUN
cblr-2899	716	3	,	,	PUNCT
cblr-2899	716	4	under	under	ADP
cblr-2899	716	5	the	the	DET
cblr-2899	716	6	franken	franken	PROPN
cblr-2899	716	7	proposal	proposal	NOUN
cblr-2899	716	8	,	,	PUNCT
cblr-2899	716	9	the	the	DET
cblr-2899	716	10	government	government	NOUN
cblr-2899	716	11	's	's	PART
cblr-2899	716	12	quality	quality	NOUN
cblr-2899	716	13	determinations	determination	NOUN
cblr-2899	716	14	would	would	AUX
cblr-2899	716	15	stand	stand	VERB
cblr-2899	716	16	uncontested	uncontested	ADJ
cblr-2899	716	17	,	,	PUNCT
cblr-2899	716	18	leaving	leave	VERB
cblr-2899	716	19	them	they	PRON
cblr-2899	716	20	as	as	ADP
cblr-2899	716	21	the	the	DET
cblr-2899	716	22	sole	sole	ADJ
cblr-2899	716	23	distributor	distributor	NOUN
cblr-2899	716	24	of	of	ADP
cblr-2899	716	25	rating	rating	NOUN
cblr-2899	716	26	contracts	contract	NOUN
cblr-2899	716	27	and	and	CCONJ
cblr-2899	716	28	thus	thus	ADV
cblr-2899	716	29	also	also	ADV
cblr-2899	716	30	market	market	NOUN
cblr-2899	716	31	share	share	NOUN
cblr-2899	716	32	.	.	PUNCT
cblr-2899	717	1	as	as	SCONJ
cblr-2899	717	2	the	the	DET
cblr-2899	717	3	securities	security	NOUN
cblr-2899	717	4	industry	industry	NOUN
cblr-2899	717	5	and	and	CCONJ
cblr-2899	717	6	financial	financial	ADJ
cblr-2899	717	7	markets	market	NOUN
cblr-2899	717	8	association	association	NOUN
cblr-2899	717	9	(	(	PUNCT
cblr-2899	717	10	"	"	PUNCT
cblr-2899	717	11	sifma	sifma	NOUN
cblr-2899	717	12	"	"	PUNCT
cblr-2899	717	13	)	)	PUNCT
cblr-2899	717	14	warns	warn	VERB
cblr-2899	717	15	,	,	PUNCT
cblr-2899	717	16	the	the	DET
cblr-2899	717	17	franken	franken	PROPN
cblr-2899	717	18	proposal	proposal	NOUN
cblr-2899	717	19	"	"	PUNCT
cblr-2899	717	20	would	would	AUX
cblr-2899	717	21	represent	represent	VERB
cblr-2899	717	22	an	an	DET
cblr-2899	717	23	unprecedented	unprecedented	ADJ
cblr-2899	717	24	intrusion	intrusion	NOUN
cblr-2899	717	25	of	of	ADP
cblr-2899	717	26	government	government	NOUN
cblr-2899	717	27	control	control	NOUN
cblr-2899	717	28	into	into	ADP
cblr-2899	717	29	a	a	DET
cblr-2899	717	30	private	private	ADJ
cblr-2899	717	31	financial	financial	ADJ
cblr-2899	717	32	market	market	NOUN
cblr-2899	717	33	.	.	PUNCT
cblr-2899	718	1	"185	"185	NOUN
cblr-2899	719	1	viii.conclusion	viii.conclusion	NOUN
cblr-2899	719	2	the	the	DET
cblr-2899	719	3	financial	financial	ADJ
cblr-2899	719	4	crisis	crisis	NOUN
cblr-2899	719	5	highlighted	highlight	VERB
cblr-2899	719	6	key	key	ADJ
cblr-2899	719	7	problems	problem	NOUN
cblr-2899	719	8	in	in	ADP
cblr-2899	719	9	the	the	DET
cblr-2899	719	10	structure	structure	NOUN
cblr-2899	719	11	and	and	CCONJ
cblr-2899	719	12	business	business	NOUN
cblr-2899	719	13	model	model	NOUN
cblr-2899	719	14	of	of	ADP
cblr-2899	719	15	cras	cras	PROPN
cblr-2899	719	16	.	.	PUNCT
cblr-2899	720	1	with	with	ADP
cblr-2899	720	2	the	the	DET
cblr-2899	720	3	growth	growth	NOUN
cblr-2899	720	4	of	of	ADP
cblr-2899	720	5	securitization	securitization	NOUN
cblr-2899	720	6	and	and	CCONJ
cblr-2899	720	7	innovative	innovative	ADJ
cblr-2899	720	8	structured	structured	ADJ
cblr-2899	720	9	finance	finance	NOUN
cblr-2899	720	10	products	product	NOUN
cblr-2899	720	11	,	,	PUNCT
cblr-2899	720	12	exchange	exchange	NOUN
cblr-2899	720	13	act	act	NOUN
cblr-2899	720	14	to	to	PART
cblr-2899	720	15	discipline	discipline	VERB
cblr-2899	720	16	their	their	PRON
cblr-2899	720	17	members	member	NOUN
cblr-2899	720	18	applies	apply	VERB
cblr-2899	720	19	to	to	ADP
cblr-2899	720	20	all	all	DET
cblr-2899	720	21	sro	sro	PROPN
cblr-2899	720	22	's	's	PART
cblr-2899	720	23	,	,	PUNCT
cblr-2899	720	24	and	and	CCONJ
cblr-2899	720	25	not	not	PART
cblr-2899	720	26	just	just	ADV
cblr-2899	720	27	finra	finra	NOUN
cblr-2899	720	28	.	.	PUNCT
cblr-2899	720	29	"	"	PUNCT
cblr-2899	721	1	fiero	fiero	PROPN
cblr-2899	721	2	,	,	PUNCT
cblr-2899	721	3	660	660	NUM
cblr-2899	721	4	f.3d	f.3d	NUM
cblr-2899	721	5	569	569	NUM
cblr-2899	721	6	at	at	ADP
cblr-2899	721	7	574	574	NUM
cblr-2899	721	8	&	&	CCONJ
cblr-2899	721	9	n.	n.	PROPN
cblr-2899	721	10	6	6	NUM
cblr-2899	721	11	.	.	PUNCT
cblr-2899	722	1	184	184	NUM
cblr-2899	722	2	see	see	VERB
cblr-2899	722	3	discussion	discussion	NOUN
cblr-2899	722	4	supra	supra	PROPN
cblr-2899	722	5	part	part	NOUN
cblr-2899	722	6	v.	v.	ADP
cblr-2899	722	7	185	185	NUM
cblr-2899	722	8	letter	letter	NOUN
cblr-2899	722	9	from	from	ADP
cblr-2899	722	10	sec	sec	PROPN
cblr-2899	722	11	.	.	PROPN
cblr-2899	722	12	indus	indus	PROPN
cblr-2899	722	13	.	.	PUNCT
cblr-2899	722	14	&	&	CCONJ
cblr-2899	722	15	fin	fin	PROPN
cblr-2899	722	16	.	.	PUNCT
cblr-2899	723	1	mkts	mkts	NOUN
cblr-2899	723	2	.	.	PUNCT
cblr-2899	724	1	ass'n	ass'n	PROPN
cblr-2899	724	2	to	to	ADP
cblr-2899	724	3	sec	sec	PROPN
cblr-2899	724	4	5	5	NUM
cblr-2899	724	5	-	-	SYM
cblr-2899	724	6	6	6	NUM
cblr-2899	724	7	(	(	PUNCT
cblr-2899	724	8	sept	sept	PROPN
cblr-2899	724	9	.	.	PROPN
cblr-2899	724	10	13	13	NUM
cblr-2899	724	11	,	,	PUNCT
cblr-2899	724	12	2011	2011	NUM
cblr-2899	724	13	)	)	PUNCT
cblr-2899	724	14	,	,	PUNCT
cblr-2899	724	15	available	available	ADJ
cblr-2899	724	16	at	at	ADP
cblr-2899	724	17	www.sifma.org/issues/item.aspx?id=	www.sifma.org/issues/item.aspx?id=	PROPN
cblr-2899	724	18	8589935396	8589935396	NUM
cblr-2899	724	19	.	.	PUNCT
cblr-2899	725	1	1044	1044	NUM
cblr-2899	726	1	[	[	X
cblr-2899	726	2	vol	vol	NOUN
cblr-2899	726	3	.	.	PUNCT
cblr-2899	726	4	2012	2012	NUM
cblr-2899	726	5	the	the	DET
cblr-2899	726	6	inherent	inherent	ADJ
cblr-2899	726	7	conflict	conflict	NOUN
cblr-2899	726	8	of	of	ADP
cblr-2899	726	9	interest	interest	NOUN
cblr-2899	726	10	present	present	ADJ
cblr-2899	726	11	in	in	ADP
cblr-2899	726	12	the	the	DET
cblr-2899	726	13	issuer	issuer	NOUN
cblr-2899	726	14	-	-	PUNCT
cblr-2899	726	15	pays	pay	NOUN
cblr-2899	726	16	model	model	NOUN
cblr-2899	726	17	became	become	VERB
cblr-2899	726	18	problematic	problematic	ADJ
cblr-2899	726	19	.	.	PUNCT
cblr-2899	727	1	rating	rating	NOUN
cblr-2899	727	2	agencies	agency	NOUN
cblr-2899	727	3	faced	face	VERB
cblr-2899	727	4	greater	great	ADJ
cblr-2899	727	5	competitive	competitive	ADJ
cblr-2899	727	6	pressure	pressure	NOUN
cblr-2899	727	7	to	to	PART
cblr-2899	727	8	appease	appease	VERB
cblr-2899	727	9	their	their	PRON
cblr-2899	727	10	clients	client	NOUN
cblr-2899	727	11	-	-	PUNCT
cblr-2899	727	12	the	the	DET
cblr-2899	727	13	issuers	issuer	NOUN
cblr-2899	727	14	of	of	ADP
cblr-2899	727	15	debt	debt	NOUN
cblr-2899	727	16	-	-	PUNCT
cblr-2899	727	17	than	than	SCONJ
cblr-2899	727	18	they	they	PRON
cblr-2899	727	19	did	do	VERB
cblr-2899	727	20	when	when	SCONJ
cblr-2899	727	21	they	they	PRON
cblr-2899	727	22	were	be	AUX
cblr-2899	727	23	rating	rate	VERB
cblr-2899	727	24	only	only	ADV
cblr-2899	727	25	corporate	corporate	ADJ
cblr-2899	727	26	bonds.1	bonds.1	NOUN
cblr-2899	727	27	86	86	NUM
cblr-2899	727	28	due	due	ADP
cblr-2899	727	29	to	to	ADP
cblr-2899	727	30	the	the	DET
cblr-2899	727	31	inclusion	inclusion	NOUN
cblr-2899	727	32	of	of	ADP
cblr-2899	727	33	benchmark	benchmark	ADJ
cblr-2899	727	34	ratings	rating	NOUN
cblr-2899	727	35	in	in	ADP
cblr-2899	727	36	regulation	regulation	NOUN
cblr-2899	727	37	,	,	PUNCT
cblr-2899	727	38	issuers	issuer	NOUN
cblr-2899	727	39	sought	seek	VERB
cblr-2899	727	40	high	high	ADJ
cblr-2899	727	41	ratings	rating	NOUN
cblr-2899	727	42	in	in	ADP
cblr-2899	727	43	order	order	NOUN
cblr-2899	727	44	to	to	PART
cblr-2899	727	45	increase	increase	VERB
cblr-2899	727	46	the	the	DET
cblr-2899	727	47	pool	pool	NOUN
cblr-2899	727	48	of	of	ADP
cblr-2899	727	49	investors	investor	NOUN
cblr-2899	727	50	eligible	eligible	ADJ
cblr-2899	727	51	to	to	PART
cblr-2899	727	52	buy	buy	VERB
cblr-2899	727	53	their	their	PRON
cblr-2899	727	54	products.1	products.1	NOUN
cblr-2899	727	55	8	8	NUM
cblr-2899	727	56	7	7	NUM
cblr-2899	727	57	this	this	PRON
cblr-2899	727	58	led	lead	VERB
cblr-2899	727	59	cras	cras	PROPN
cblr-2899	727	60	to	to	PART
cblr-2899	727	61	override	override	VERB
cblr-2899	727	62	their	their	PRON
cblr-2899	727	63	own	own	ADJ
cblr-2899	727	64	models	model	NOUN
cblr-2899	727	65	,	,	PUNCT
cblr-2899	727	66	by	by	ADP
cblr-2899	727	67	applying	apply	VERB
cblr-2899	727	68	unjustified	unjustified	ADJ
cblr-2899	727	69	upward	upward	ADJ
cblr-2899	727	70	adjustments	adjustment	NOUN
cblr-2899	727	71	,	,	PUNCT
cblr-2899	727	72	in	in	ADP
cblr-2899	727	73	an	an	DET
cblr-2899	727	74	effort	effort	NOUN
cblr-2899	727	75	to	to	PART
cblr-2899	727	76	increase	increase	VERB
cblr-2899	727	77	the	the	DET
cblr-2899	727	78	amount	amount	NOUN
cblr-2899	727	79	of	of	ADP
cblr-2899	727	80	debt	debt	NOUN
cblr-2899	727	81	that	that	PRON
cblr-2899	727	82	could	could	AUX
cblr-2899	727	83	be	be	AUX
cblr-2899	727	84	rated	rate	VERB
cblr-2899	727	85	investment	investment	NOUN
cblr-2899	727	86	-	-	PUNCT
cblr-2899	727	87	grade	grade	NOUN
cblr-2899	727	88	.	.	PUNCT
cblr-2899	728	1	8	8	NUM
cblr-2899	728	2	8	8	NUM
cblr-2899	728	3	the	the	DET
cblr-2899	728	4	accuracy	accuracy	NOUN
cblr-2899	728	5	of	of	ADP
cblr-2899	728	6	the	the	DET
cblr-2899	728	7	ratings	rating	NOUN
cblr-2899	728	8	were	be	AUX
cblr-2899	728	9	highly	highly	ADV
cblr-2899	728	10	dependent	dependent	ADJ
cblr-2899	728	11	on	on	ADP
cblr-2899	728	12	assumptions	assumption	NOUN
cblr-2899	728	13	such	such	ADJ
cblr-2899	728	14	as	as	ADP
cblr-2899	728	15	the	the	DET
cblr-2899	728	16	continuous	continuous	ADJ
cblr-2899	728	17	appreciation	appreciation	NOUN
cblr-2899	728	18	of	of	ADP
cblr-2899	728	19	housing	housing	NOUN
cblr-2899	728	20	prices	price	NOUN
cblr-2899	728	21	,	,	PUNCT
cblr-2899	728	22	and	and	CCONJ
cblr-2899	728	23	due	due	ADP
cblr-2899	728	24	to	to	ADP
cblr-2899	728	25	the	the	DET
cblr-2899	728	26	innovative	innovative	ADJ
cblr-2899	728	27	nature	nature	NOUN
cblr-2899	728	28	of	of	ADP
cblr-2899	728	29	the	the	DET
cblr-2899	728	30	structured	structured	ADJ
cblr-2899	728	31	products	product	NOUN
cblr-2899	728	32	,	,	PUNCT
cblr-2899	728	33	the	the	DET
cblr-2899	728	34	models	model	NOUN
cblr-2899	728	35	themselves	themselves	PRON
cblr-2899	728	36	were	be	AUX
cblr-2899	728	37	based	base	VERB
cblr-2899	728	38	on	on	ADP
cblr-2899	728	39	very	very	ADV
cblr-2899	728	40	limited	limited	ADJ
cblr-2899	728	41	historical	historical	ADJ
cblr-2899	728	42	data	datum	NOUN
cblr-2899	728	43	.	.	PUNCT
cblr-2899	729	1	89	89	NUM
cblr-2899	729	2	additionally	additionally	ADV
cblr-2899	729	3	,	,	PUNCT
cblr-2899	729	4	there	there	PRON
cblr-2899	729	5	were	be	VERB
cblr-2899	729	6	weak	weak	ADJ
cblr-2899	729	7	incentives	incentive	NOUN
cblr-2899	729	8	to	to	PART
cblr-2899	729	9	provide	provide	VERB
cblr-2899	729	10	updated	update	VERB
cblr-2899	729	11	information	information	NOUN
cblr-2899	729	12	or	or	CCONJ
cblr-2899	729	13	timely	timely	ADJ
cblr-2899	729	14	downgrades	downgrade	NOUN
cblr-2899	729	15	of	of	ADP
cblr-2899	729	16	debt.19	debt.19	NOUN
cblr-2899	729	17	0	0	NUM
cblr-2899	729	18	investors	investor	NOUN
cblr-2899	729	19	,	,	PUNCT
cblr-2899	729	20	issuers	issuer	NOUN
cblr-2899	729	21	,	,	PUNCT
cblr-2899	729	22	and	and	CCONJ
cblr-2899	729	23	cras	cra	NOUN
cblr-2899	729	24	were	be	AUX
cblr-2899	729	25	all	all	PRON
cblr-2899	729	26	profiting	profit	VERB
cblr-2899	729	27	from	from	ADP
cblr-2899	729	28	the	the	DET
cblr-2899	729	29	bubble	bubble	NOUN
cblr-2899	729	30	,	,	PUNCT
cblr-2899	729	31	so	so	SCONJ
cblr-2899	729	32	there	there	PRON
cblr-2899	729	33	was	be	VERB
cblr-2899	729	34	also	also	ADV
cblr-2899	729	35	no	no	DET
cblr-2899	729	36	pressure	pressure	NOUN
cblr-2899	729	37	to	to	PART
cblr-2899	729	38	engage	engage	VERB
cblr-2899	729	39	in	in	ADP
cblr-2899	729	40	accurate	accurate	ADJ
cblr-2899	729	41	due	due	ADJ
cblr-2899	729	42	diligence.19	diligence.19	NOUN
cblr-2899	729	43	as	as	SCONJ
cblr-2899	729	44	the	the	DET
cblr-2899	729	45	products	product	NOUN
cblr-2899	729	46	trading	trading	NOUN
cblr-2899	729	47	in	in	ADP
cblr-2899	729	48	the	the	DET
cblr-2899	729	49	markets	market	NOUN
cblr-2899	729	50	became	become	VERB
cblr-2899	729	51	more	more	ADV
cblr-2899	729	52	complex	complex	ADJ
cblr-2899	729	53	,	,	PUNCT
cblr-2899	729	54	it	it	PRON
cblr-2899	729	55	is	be	AUX
cblr-2899	729	56	only	only	ADV
cblr-2899	729	57	natural	natural	ADJ
cblr-2899	729	58	that	that	SCONJ
cblr-2899	729	59	investors	investor	NOUN
cblr-2899	729	60	increasingly	increasingly	ADV
cblr-2899	729	61	began	begin	VERB
cblr-2899	729	62	to	to	PART
cblr-2899	729	63	rely	rely	VERB
cblr-2899	729	64	on	on	ADP
cblr-2899	729	65	ratings	rating	NOUN
cblr-2899	729	66	agencies	agency	NOUN
cblr-2899	729	67	to	to	PART
cblr-2899	729	68	do	do	AUX
cblr-2899	729	69	their	their	PRON
cblr-2899	729	70	risk	risk	NOUN
cblr-2899	729	71	analysis	analysis	NOUN
cblr-2899	729	72	.	.	PUNCT
cblr-2899	730	1	both	both	CCONJ
cblr-2899	730	2	the	the	DET
cblr-2899	730	3	united	united	PROPN
cblr-2899	730	4	states	states	PROPN
cblr-2899	730	5	and	and	CCONJ
cblr-2899	730	6	the	the	DET
cblr-2899	730	7	eu	eu	PROPN
cblr-2899	730	8	responded	respond	VERB
cblr-2899	730	9	to	to	ADP
cblr-2899	730	10	these	these	DET
cblr-2899	730	11	concerns	concern	NOUN
cblr-2899	730	12	with	with	ADP
cblr-2899	730	13	enhanced	enhanced	ADJ
cblr-2899	730	14	regulation	regulation	NOUN
cblr-2899	730	15	.	.	PUNCT
cblr-2899	731	1	the	the	DET
cblr-2899	731	2	united	united	PROPN
cblr-2899	731	3	states	states	PROPN
cblr-2899	731	4	implemented	implement	VERB
cblr-2899	731	5	dodd	dodd	PROPN
cblr-2899	731	6	-	-	PUNCT
cblr-2899	731	7	frank	frank	PROPN
cblr-2899	731	8	,	,	PUNCT
cblr-2899	731	9	which	which	PRON
cblr-2899	731	10	,	,	PUNCT
cblr-2899	731	11	among	among	ADP
cblr-2899	731	12	other	other	ADJ
cblr-2899	731	13	things	thing	NOUN
cblr-2899	731	14	,	,	PUNCT
cblr-2899	731	15	has	have	AUX
cblr-2899	731	16	removed	remove	VERB
cblr-2899	731	17	references	reference	NOUN
cblr-2899	731	18	to	to	ADP
cblr-2899	731	19	ratings	rating	NOUN
cblr-2899	731	20	in	in	ADP
cblr-2899	731	21	regulations	regulation	NOUN
cblr-2899	731	22	,	,	PUNCT
cblr-2899	731	23	allowed	allow	VERB
cblr-2899	731	24	private	private	ADJ
cblr-2899	731	25	rights	right	NOUN
cblr-2899	731	26	of	of	ADP
cblr-2899	731	27	action	action	NOUN
cblr-2899	731	28	against	against	ADP
cblr-2899	731	29	cras	cras	X
cblr-2899	731	30	,	,	PUNCT
cblr-2899	731	31	and	and	CCONJ
cblr-2899	731	32	mandated	mandate	VERB
cblr-2899	731	33	additional	additional	ADJ
cblr-2899	731	34	disclosure	disclosure	NOUN
cblr-2899	731	35	.	.	PUNCT
cblr-2899	732	1	to	to	PART
cblr-2899	732	2	deal	deal	VERB
cblr-2899	732	3	with	with	ADP
cblr-2899	732	4	the	the	DET
cblr-2899	732	5	conflict	conflict	NOUN
cblr-2899	732	6	of	of	ADP
cblr-2899	732	7	interest	interest	NOUN
cblr-2899	732	8	problem	problem	NOUN
cblr-2899	732	9	,	,	PUNCT
cblr-2899	732	10	dodd	dodd	PROPN
cblr-2899	732	11	-	-	PUNCT
cblr-2899	732	12	frank	frank	PROPN
cblr-2899	732	13	mandated	mandate	VERB
cblr-2899	732	14	a	a	DET
cblr-2899	732	15	study	study	NOUN
cblr-2899	732	16	about	about	ADP
cblr-2899	732	17	the	the	DET
cblr-2899	732	18	advantages	advantage	NOUN
cblr-2899	732	19	of	of	ADP
cblr-2899	732	20	the	the	DET
cblr-2899	732	21	franken	franken	NOUN
cblr-2899	732	22	proposal	proposal	NOUN
cblr-2899	732	23	,	,	PUNCT
cblr-2899	732	24	in	in	ADP
cblr-2899	732	25	relation	relation	NOUN
cblr-2899	732	26	to	to	ADP
cblr-2899	732	27	other	other	ADJ
cblr-2899	732	28	options	option	NOUN
cblr-2899	732	29	,	,	PUNCT
cblr-2899	732	30	and	and	CCONJ
cblr-2899	732	31	seeks	seek	VERB
cblr-2899	732	32	to	to	PART
cblr-2899	732	33	implement	implement	VERB
cblr-2899	732	34	that	that	DET
cblr-2899	732	35	proposal	proposal	NOUN
cblr-2899	732	36	"	"	PUNCT
cblr-2899	732	37	unless	unless	SCONJ
cblr-2899	732	38	the	the	DET
cblr-2899	732	39	commission	commission	NOUN
cblr-2899	732	40	determines	determine	VERB
cblr-2899	732	41	that	that	SCONJ
cblr-2899	732	42	an	an	DET
cblr-2899	732	43	alternative	alternative	ADJ
cblr-2899	732	44	system	system	NOUN
cblr-2899	732	45	would	would	AUX
cblr-2899	732	46	better	well	ADV
cblr-2899	732	47	serve	serve	VERB
cblr-2899	732	48	the	the	DET
cblr-2899	732	49	public	public	ADJ
cblr-2899	732	50	186	186	NUM
cblr-2899	732	51	coffee	coffee	NOUN
cblr-2899	732	52	,	,	PUNCT
cblr-2899	732	53	supra	supra	PROPN
cblr-2899	732	54	note	note	NOUN
cblr-2899	732	55	33	33	NUM
cblr-2899	732	56	,	,	PUNCT
cblr-2899	732	57	at	at	ADP
cblr-2899	732	58	238	238	NUM
cblr-2899	732	59	.	.	PUNCT
cblr-2899	733	1	187	187	NUM
cblr-2899	733	2	see	see	VERB
cblr-2899	733	3	2007	2007	NUM
cblr-2899	733	4	hearings	hearing	NOUN
cblr-2899	733	5	supra	supra	PROPN
cblr-2899	733	6	note	note	VERB
cblr-2899	733	7	38	38	NUM
cblr-2899	733	8	,	,	PUNCT
cblr-2899	733	9	at	at	ADP
cblr-2899	733	10	8	8	NUM
cblr-2899	733	11	.	.	NOUN
cblr-2899	733	12	188	188	NUM
cblr-2899	733	13	see	see	VERB
cblr-2899	733	14	generally	generally	ADV
cblr-2899	733	15	griffin	griffin	PROPN
cblr-2899	733	16	&	&	CCONJ
cblr-2899	733	17	tang	tang	PROPN
cblr-2899	733	18	,	,	PUNCT
cblr-2899	733	19	supra	supra	PROPN
cblr-2899	733	20	note	note	NOUN
cblr-2899	733	21	39	39	NUM
cblr-2899	733	22	.	.	NOUN
cblr-2899	733	23	189	189	NUM
cblr-2899	733	24	sy	sy	NOUN
cblr-2899	733	25	,	,	PUNCT
cblr-2899	733	26	supra	supra	PROPN
cblr-2899	733	27	note	note	PROPN
cblr-2899	733	28	28	28	NUM
cblr-2899	733	29	,	,	PUNCT
cblr-2899	733	30	at	at	ADP
cblr-2899	733	31	19	19	NUM
cblr-2899	733	32	.	.	NOUN
cblr-2899	733	33	190	190	NUM
cblr-2899	733	34	2008	2008	NUM
cblr-2899	733	35	hearings	hearing	NOUN
cblr-2899	733	36	,	,	PUNCT
cblr-2899	733	37	supra	supra	PROPN
cblr-2899	733	38	note	note	PROPN
cblr-2899	733	39	18	18	NUM
cblr-2899	733	40	,	,	PUNCT
cblr-2899	733	41	at	at	ADP
cblr-2899	733	42	10	10	NUM
cblr-2899	733	43	.	.	PUNCT
cblr-2899	733	44	191	191	NUM
cblr-2899	734	1	i	i	PROPN
cblr-2899	734	2	d.	d.	PROPN
cblr-2899	734	3	1045no	1045no	PROPN
cblr-2899	734	4	.	.	PUNCT
cblr-2899	735	1	3:994	3:994	NUM
cblr-2899	735	2	]	]	PUNCT
cblr-2899	735	3	regulating	regulate	VERB
cblr-2899	735	4	credit	credit	NOUN
cblr-2899	735	5	ra	ra	PROPN
cblr-2899	735	6	ting	ting	PROPN
cblr-2899	735	7	agencies	agencies	PROPN
cblr-2899	735	8	columbia	columbia	PROPN
cblr-2899	735	9	business	business	PROPN
cblr-2899	735	10	law	law	PROPN
cblr-2899	735	11	review	review	VERB
cblr-2899	735	12	interest	interest	NOUN
cblr-2899	735	13	.	.	PUNCT
cblr-2899	736	1	"192	"192	PROPN
cblr-2899	736	2	the	the	DET
cblr-2899	736	3	franken	franken	PROPN
cblr-2899	736	4	proposal	proposal	NOUN
cblr-2899	736	5	would	would	AUX
cblr-2899	736	6	create	create	VERB
cblr-2899	736	7	a	a	DET
cblr-2899	736	8	centralized	centralized	ADJ
cblr-2899	736	9	government	government	NOUN
cblr-2899	736	10	platform	platform	NOUN
cblr-2899	736	11	that	that	PRON
cblr-2899	736	12	assigns	assign	VERB
cblr-2899	736	13	issuers	issuer	NOUN
cblr-2899	736	14	to	to	ADP
cblr-2899	736	15	rating	rating	NOUN
cblr-2899	736	16	agencies	agency	NOUN
cblr-2899	736	17	on	on	ADP
cblr-2899	736	18	a	a	DET
cblr-2899	736	19	randomized	randomized	ADJ
cblr-2899	736	20	basis	basis	NOUN
cblr-2899	736	21	.	.	PUNCT
cblr-2899	737	1	however	however	ADV
cblr-2899	737	2	,	,	PUNCT
cblr-2899	737	3	many	many	ADJ
cblr-2899	737	4	alternative	alternative	ADJ
cblr-2899	737	5	solutions	solution	NOUN
cblr-2899	737	6	have	have	AUX
cblr-2899	737	7	been	be	AUX
cblr-2899	737	8	proposed	propose	VERB
cblr-2899	737	9	.	.	PUNCT
cblr-2899	738	1	this	this	DET
cblr-2899	738	2	note	note	NOUN
cblr-2899	738	3	sought	seek	VERB
cblr-2899	738	4	to	to	PART
cblr-2899	738	5	review	review	VERB
cblr-2899	738	6	and	and	CCONJ
cblr-2899	738	7	evaluate	evaluate	VERB
cblr-2899	738	8	the	the	DET
cblr-2899	738	9	franken	franken	NOUN
cblr-2899	738	10	proposal	proposal	NOUN
cblr-2899	738	11	and	and	CCONJ
cblr-2899	738	12	its	its	PRON
cblr-2899	738	13	alternatives	alternative	NOUN
cblr-2899	738	14	,	,	PUNCT
cblr-2899	738	15	using	use	VERB
cblr-2899	738	16	them	they	PRON
cblr-2899	738	17	as	as	ADP
cblr-2899	738	18	a	a	DET
cblr-2899	738	19	basis	basis	NOUN
cblr-2899	738	20	for	for	ADP
cblr-2899	738	21	a	a	DET
cblr-2899	738	22	new	new	ADJ
cblr-2899	738	23	proposal	proposal	NOUN
cblr-2899	738	24	.	.	PUNCT
cblr-2899	739	1	the	the	DET
cblr-2899	739	2	new	new	ADJ
cblr-2899	739	3	proposal	proposal	NOUN
cblr-2899	739	4	combines	combine	VERB
cblr-2899	739	5	three	three	NUM
cblr-2899	739	6	steps	step	NOUN
cblr-2899	739	7	:	:	PUNCT
cblr-2899	739	8	(	(	PUNCT
cblr-2899	739	9	1	1	X
cblr-2899	739	10	)	)	PUNCT
cblr-2899	739	11	a	a	DET
cblr-2899	739	12	requirement	requirement	NOUN
cblr-2899	739	13	that	that	SCONJ
cblr-2899	739	14	issuers	issuer	NOUN
cblr-2899	739	15	obtain	obtain	VERB
cblr-2899	739	16	a	a	DET
cblr-2899	739	17	vote	vote	NOUN
cblr-2899	739	18	from	from	ADP
cblr-2899	739	19	their	their	PRON
cblr-2899	739	20	largest	large	ADJ
cblr-2899	739	21	institutional	institutional	ADJ
cblr-2899	739	22	investors	investor	NOUN
cblr-2899	739	23	and	and	CCONJ
cblr-2899	739	24	allow	allow	VERB
cblr-2899	739	25	the	the	DET
cblr-2899	739	26	outcome	outcome	NOUN
cblr-2899	739	27	of	of	ADP
cblr-2899	739	28	the	the	DET
cblr-2899	739	29	vote	vote	NOUN
cblr-2899	739	30	to	to	PART
cblr-2899	739	31	determine	determine	VERB
cblr-2899	739	32	which	which	DET
cblr-2899	739	33	cra	cra	VERB
cblr-2899	739	34	the	the	DET
cblr-2899	739	35	issuer	issuer	NOUN
cblr-2899	739	36	hires	hire	NOUN
cblr-2899	739	37	;	;	PUNCT
cblr-2899	739	38	(	(	PUNCT
cblr-2899	739	39	2	2	X
cblr-2899	739	40	)	)	PUNCT
cblr-2899	739	41	the	the	DET
cblr-2899	739	42	creation	creation	NOUN
cblr-2899	739	43	of	of	ADP
cblr-2899	739	44	a	a	DET
cblr-2899	739	45	governmental	governmental	ADJ
cblr-2899	739	46	agency	agency	NOUN
cblr-2899	739	47	or	or	CCONJ
cblr-2899	739	48	a	a	DET
cblr-2899	739	49	self	self	NOUN
cblr-2899	739	50	-	-	PUNCT
cblr-2899	739	51	regulatory	regulatory	ADJ
cblr-2899	739	52	organization	organization	NOUN
cblr-2899	739	53	that	that	PRON
cblr-2899	739	54	rates	rate	VERB
cblr-2899	739	55	and	and	CCONJ
cblr-2899	739	56	ranks	rank	VERB
cblr-2899	739	57	the	the	DET
cblr-2899	739	58	performance	performance	NOUN
cblr-2899	739	59	of	of	ADP
cblr-2899	739	60	individual	individual	ADJ
cblr-2899	739	61	cras	cra	NOUN
cblr-2899	739	62	;	;	PUNCT
cblr-2899	739	63	and	and	CCONJ
cblr-2899	739	64	(	(	PUNCT
cblr-2899	739	65	3	3	X
cblr-2899	739	66	)	)	PUNCT
cblr-2899	739	67	a	a	DET
cblr-2899	739	68	requirement	requirement	NOUN
cblr-2899	739	69	that	that	SCONJ
cblr-2899	739	70	issuers	issuer	NOUN
cblr-2899	739	71	obtain	obtain	VERB
cblr-2899	739	72	a	a	DET
cblr-2899	739	73	second	second	ADJ
cblr-2899	739	74	rating	rating	NOUN
cblr-2899	739	75	from	from	ADP
cblr-2899	739	76	a	a	DET
cblr-2899	739	77	better	well	ADV
cblr-2899	739	78	performing	perform	VERB
cblr-2899	739	79	cra	cra	NOUN
cblr-2899	739	80	when	when	SCONJ
cblr-2899	739	81	they	they	PRON
cblr-2899	739	82	choose	choose	VERB
cblr-2899	739	83	to	to	PART
cblr-2899	739	84	hire	hire	VERB
cblr-2899	739	85	a	a	DET
cblr-2899	739	86	cra	cra	NOUN
cblr-2899	739	87	whose	whose	DET
cblr-2899	739	88	performance	performance	NOUN
cblr-2899	739	89	has	have	AUX
cblr-2899	739	90	proven	prove	VERB
cblr-2899	739	91	inadequate	inadequate	ADJ
cblr-2899	739	92	for	for	ADP
cblr-2899	739	93	a	a	DET
cblr-2899	739	94	particular	particular	ADJ
cblr-2899	739	95	asset	asset	NOUN
cblr-2899	739	96	class	class	NOUN
cblr-2899	739	97	.	.	PUNCT
cblr-2899	740	1	requiring	require	VERB
cblr-2899	740	2	issuers	issuer	NOUN
cblr-2899	740	3	to	to	PART
cblr-2899	740	4	hire	hire	VERB
cblr-2899	740	5	a	a	DET
cblr-2899	740	6	rating	rating	NOUN
cblr-2899	740	7	agency	agency	NOUN
cblr-2899	740	8	chosen	choose	VERB
cblr-2899	740	9	by	by	ADP
cblr-2899	740	10	voting	vote	VERB
cblr-2899	740	11	investors	investor	NOUN
cblr-2899	740	12	will	will	AUX
cblr-2899	740	13	allow	allow	VERB
cblr-2899	740	14	the	the	DET
cblr-2899	740	15	issuer	issuer	NOUN
cblr-2899	740	16	-	-	PUNCT
cblr-2899	740	17	pays	pay	NOUN
cblr-2899	740	18	model	model	NOUN
cblr-2899	740	19	to	to	PART
cblr-2899	740	20	remain	remain	VERB
cblr-2899	740	21	intact	intact	ADJ
cblr-2899	740	22	,	,	PUNCT
cblr-2899	740	23	but	but	CCONJ
cblr-2899	740	24	will	will	AUX
cblr-2899	740	25	remedy	remedy	VERB
cblr-2899	740	26	the	the	DET
cblr-2899	740	27	conflict	conflict	NOUN
cblr-2899	740	28	of	of	ADP
cblr-2899	740	29	interest	interest	NOUN
cblr-2899	740	30	problem	problem	NOUN
cblr-2899	740	31	by	by	ADP
cblr-2899	740	32	transferring	transfer	VERB
cblr-2899	740	33	the	the	DET
cblr-2899	740	34	choice	choice	NOUN
cblr-2899	740	35	of	of	ADP
cblr-2899	740	36	rating	rating	NOUN
cblr-2899	740	37	agency	agency	NOUN
cblr-2899	740	38	to	to	ADP
cblr-2899	740	39	investors	investor	NOUN
cblr-2899	740	40	.	.	PUNCT
cblr-2899	741	1	the	the	DET
cblr-2899	741	2	cras	cras	PROPN
cblr-2899	741	3	will	will	AUX
cblr-2899	741	4	therefore	therefore	ADV
cblr-2899	741	5	compete	compete	VERB
cblr-2899	741	6	for	for	ADP
cblr-2899	741	7	the	the	DET
cblr-2899	741	8	favor	favor	NOUN
cblr-2899	741	9	of	of	ADP
cblr-2899	741	10	investors	investor	NOUN
cblr-2899	741	11	and	and	CCONJ
cblr-2899	741	12	no	no	ADV
cblr-2899	741	13	longer	long	ADV
cblr-2899	741	14	have	have	VERB
cblr-2899	741	15	to	to	PART
cblr-2899	741	16	do	do	VERB
cblr-2899	741	17	the	the	DET
cblr-2899	741	18	same	same	ADJ
cblr-2899	741	19	for	for	ADP
cblr-2899	741	20	issuers	issuer	NOUN
cblr-2899	741	21	.	.	PUNCT
cblr-2899	742	1	however	however	ADV
cblr-2899	742	2	,	,	PUNCT
cblr-2899	742	3	in	in	ADP
cblr-2899	742	4	order	order	NOUN
cblr-2899	742	5	to	to	PART
cblr-2899	742	6	make	make	VERB
cblr-2899	742	7	educated	educate	VERB
cblr-2899	742	8	decisions	decision	NOUN
cblr-2899	742	9	about	about	ADP
cblr-2899	742	10	which	which	DET
cblr-2899	742	11	rating	rating	NOUN
cblr-2899	742	12	agency	agency	NOUN
cblr-2899	742	13	to	to	PART
cblr-2899	742	14	vote	vote	VERB
cblr-2899	742	15	for	for	ADP
cblr-2899	742	16	,	,	PUNCT
cblr-2899	742	17	investors	investor	NOUN
cblr-2899	742	18	will	will	AUX
cblr-2899	742	19	need	need	VERB
cblr-2899	742	20	standardized	standardized	ADJ
cblr-2899	742	21	information	information	NOUN
cblr-2899	742	22	about	about	ADP
cblr-2899	742	23	the	the	DET
cblr-2899	742	24	performance	performance	NOUN
cblr-2899	742	25	of	of	ADP
cblr-2899	742	26	the	the	DET
cblr-2899	742	27	rating	rating	NOUN
cblr-2899	742	28	agencies	agency	NOUN
cblr-2899	742	29	.	.	PUNCT
cblr-2899	743	1	a	a	DET
cblr-2899	743	2	self	self	NOUN
cblr-2899	743	3	-	-	PUNCT
cblr-2899	743	4	regulatory	regulatory	ADJ
cblr-2899	743	5	organization	organization	NOUN
cblr-2899	743	6	or	or	CCONJ
cblr-2899	743	7	a	a	DET
cblr-2899	743	8	government	government	NOUN
cblr-2899	743	9	entity	entity	NOUN
cblr-2899	743	10	that	that	PRON
cblr-2899	743	11	ranks	rank	VERB
cblr-2899	743	12	the	the	DET
cblr-2899	743	13	existing	exist	VERB
cblr-2899	743	14	nrsros	nrsro	NOUN
cblr-2899	743	15	by	by	ADP
cblr-2899	743	16	the	the	DET
cblr-2899	743	17	quality	quality	NOUN
cblr-2899	743	18	of	of	ADP
cblr-2899	743	19	their	their	PRON
cblr-2899	743	20	ratings	rating	NOUN
cblr-2899	743	21	and	and	CCONJ
cblr-2899	743	22	publishes	publish	VERB
cblr-2899	743	23	these	these	DET
cblr-2899	743	24	rankings	ranking	NOUN
cblr-2899	743	25	can	can	AUX
cblr-2899	743	26	provide	provide	VERB
cblr-2899	743	27	exactly	exactly	ADV
cblr-2899	743	28	this	this	DET
cblr-2899	743	29	type	type	NOUN
cblr-2899	743	30	of	of	ADP
cblr-2899	743	31	standardized	standardized	ADJ
cblr-2899	743	32	information	information	NOUN
cblr-2899	743	33	.	.	PUNCT
cblr-2899	744	1	investors	investor	NOUN
cblr-2899	744	2	may	may	AUX
cblr-2899	744	3	therefore	therefore	ADV
cblr-2899	744	4	use	use	VERB
cblr-2899	744	5	the	the	DET
cblr-2899	744	6	rankings	ranking	NOUN
cblr-2899	744	7	to	to	PART
cblr-2899	744	8	help	help	VERB
cblr-2899	744	9	them	they	PRON
cblr-2899	744	10	make	make	VERB
cblr-2899	744	11	their	their	PRON
cblr-2899	744	12	voting	voting	NOUN
cblr-2899	744	13	decisions	decision	NOUN
cblr-2899	744	14	,	,	PUNCT
cblr-2899	744	15	and	and	CCONJ
cblr-2899	744	16	cras	cras	X
cblr-2899	744	17	will	will	AUX
cblr-2899	744	18	have	have	VERB
cblr-2899	744	19	incentives	incentive	NOUN
cblr-2899	744	20	to	to	PART
cblr-2899	744	21	be	be	AUX
cblr-2899	744	22	accurate	accurate	ADJ
cblr-2899	744	23	and	and	CCONJ
cblr-2899	744	24	make	make	VERB
cblr-2899	744	25	it	it	PRON
cblr-2899	744	26	to	to	ADP
cblr-2899	744	27	the	the	DET
cblr-2899	744	28	top	top	NOUN
cblr-2899	744	29	of	of	ADP
cblr-2899	744	30	the	the	DET
cblr-2899	744	31	rankings	ranking	NOUN
cblr-2899	744	32	.	.	PUNCT
cblr-2899	745	1	to	to	PART
cblr-2899	745	2	bolster	bolster	VERB
cblr-2899	745	3	this	this	DET
cblr-2899	745	4	structure	structure	NOUN
cblr-2899	745	5	,	,	PUNCT
cblr-2899	745	6	an	an	DET
cblr-2899	745	7	inaccurate	inaccurate	ADJ
cblr-2899	745	8	rating	rating	NOUN
cblr-2899	745	9	agency	agency	NOUN
cblr-2899	745	10	will	will	AUX
cblr-2899	745	11	also	also	ADV
cblr-2899	745	12	suffer	suffer	VERB
cblr-2899	745	13	a	a	DET
cblr-2899	745	14	further	further	ADJ
cblr-2899	745	15	consequence	consequence	NOUN
cblr-2899	745	16	if	if	SCONJ
cblr-2899	745	17	it	it	PRON
cblr-2899	745	18	lands	land	VERB
cblr-2899	745	19	at	at	ADP
cblr-2899	745	20	the	the	DET
cblr-2899	745	21	bottom	bottom	NOUN
cblr-2899	745	22	of	of	ADP
cblr-2899	745	23	the	the	DET
cblr-2899	745	24	rankings	ranking	NOUN
cblr-2899	745	25	list	list	NOUN
cblr-2899	745	26	.	.	PUNCT
cblr-2899	746	1	the	the	DET
cblr-2899	746	2	third	third	ADJ
cblr-2899	746	3	step	step	NOUN
cblr-2899	746	4	of	of	ADP
cblr-2899	746	5	the	the	DET
cblr-2899	746	6	proposal	proposal	NOUN
cblr-2899	746	7	will	will	AUX
cblr-2899	746	8	require	require	VERB
cblr-2899	746	9	the	the	DET
cblr-2899	746	10	government	government	NOUN
cblr-2899	746	11	to	to	PART
cblr-2899	746	12	impose	impose	VERB
cblr-2899	746	13	a	a	DET
cblr-2899	746	14	"	"	PUNCT
cblr-2899	746	15	low	low	ADJ
cblr-2899	746	16	performance	performance	NOUN
cblr-2899	746	17	"	"	PUNCT
cblr-2899	746	18	designation	designation	NOUN
cblr-2899	746	19	192	192	NUM
cblr-2899	746	20	dodd	dodd	PROPN
cblr-2899	746	21	-	-	PUNCT
cblr-2899	746	22	frank	frank	PROPN
cblr-2899	746	23	wall	wall	PROPN
cblr-2899	746	24	street	street	PROPN
cblr-2899	746	25	reform	reform	PROPN
cblr-2899	746	26	and	and	CCONJ
cblr-2899	746	27	consumer	consumer	NOUN
cblr-2899	746	28	protection	protection	PROPN
cblr-2899	746	29	act	act	NOUN
cblr-2899	746	30	§	§	PROPN
cblr-2899	746	31	939f(d)(1	939f(d)(1	NOUN
cblr-2899	746	32	)	)	PUNCT
cblr-2899	746	33	,	,	PUNCT
cblr-2899	747	1	pub	pub	NOUN
cblr-2899	747	2	.	.	PUNCT
cblr-2899	748	1	l.	l.	PROPN
cblr-2899	748	2	no	no	INTJ
cblr-2899	748	3	.	.	PROPN
cblr-2899	748	4	111	111	NUM
cblr-2899	748	5	-	-	SYM
cblr-2899	748	6	203	203	NUM
cblr-2899	748	7	,	,	PUNCT
cblr-2899	748	8	124	124	NUM
cblr-2899	748	9	stat	stat	NOUN
cblr-2899	748	10	.	.	PUNCT
cblr-2899	749	1	1376	1376	NUM
cblr-2899	749	2	,	,	PUNCT
cblr-2899	749	3	1471	1471	NUM
cblr-2899	749	4	(	(	PUNCT
cblr-2899	749	5	2012	2012	NUM
cblr-2899	749	6	)	)	PUNCT
cblr-2899	749	7	;	;	PUNCT
cblr-2899	749	8	see	see	VERB
cblr-2899	749	9	also	also	ADV
cblr-2899	749	10	gao	gao	PROPN
cblr-2899	749	11	report	report	PROPN
cblr-2899	749	12	,	,	PUNCT
cblr-2899	749	13	supra	supra	PROPN
cblr-2899	749	14	note	note	NOUN
cblr-2899	749	15	9	9	NUM
cblr-2899	749	16	,	,	PUNCT
cblr-2899	749	17	at	at	ADP
cblr-2899	749	18	3	3	NUM
cblr-2899	749	19	.	.	NOUN
cblr-2899	749	20	1046	1046	NUM
cblr-2899	750	1	[	[	X
cblr-2899	750	2	vol	vol	NOUN
cblr-2899	750	3	.	.	PUNCT
cblr-2899	750	4	2012	2012	NUM
cblr-2899	750	5	on	on	ADP
cblr-2899	750	6	ratings	rating	NOUN
cblr-2899	750	7	that	that	PRON
cblr-2899	750	8	have	have	AUX
cblr-2899	750	9	fallen	fall	VERB
cblr-2899	750	10	below	below	ADP
cblr-2899	750	11	an	an	DET
cblr-2899	750	12	acceptable	acceptable	ADJ
cblr-2899	750	13	level	level	NOUN
cblr-2899	750	14	of	of	ADP
cblr-2899	750	15	accuracy	accuracy	NOUN
cblr-2899	750	16	for	for	ADP
cblr-2899	750	17	a	a	DET
cblr-2899	750	18	given	give	VERB
cblr-2899	750	19	asset	asset	NOUN
cblr-2899	750	20	class	class	NOUN
cblr-2899	750	21	or	or	CCONJ
cblr-2899	750	22	,	,	PUNCT
cblr-2899	750	23	more	more	ADV
cblr-2899	750	24	simply	simply	ADV
cblr-2899	750	25	,	,	PUNCT
cblr-2899	750	26	if	if	SCONJ
cblr-2899	750	27	they	they	PRON
cblr-2899	750	28	are	be	AUX
cblr-2899	750	29	not	not	PART
cblr-2899	750	30	ranked	rank	VERB
cblr-2899	750	31	in	in	ADP
cblr-2899	750	32	the	the	DET
cblr-2899	750	33	top	top	ADJ
cblr-2899	750	34	three	three	NUM
cblr-2899	750	35	cras	cra	NOUN
cblr-2899	750	36	as	as	SCONJ
cblr-2899	750	37	established	establish	VERB
cblr-2899	750	38	by	by	ADP
cblr-2899	750	39	the	the	DET
cblr-2899	750	40	governmental	governmental	ADJ
cblr-2899	750	41	or	or	CCONJ
cblr-2899	750	42	self	self	NOUN
cblr-2899	750	43	-	-	PUNCT
cblr-2899	750	44	regulatory	regulatory	ADJ
cblr-2899	750	45	organization	organization	NOUN
cblr-2899	750	46	.	.	PUNCT
cblr-2899	751	1	any	any	DET
cblr-2899	751	2	client	client	NOUN
cblr-2899	751	3	looking	look	VERB
cblr-2899	751	4	to	to	PART
cblr-2899	751	5	buy	buy	VERB
cblr-2899	751	6	a	a	DET
cblr-2899	751	7	rating	rating	NOUN
cblr-2899	751	8	from	from	ADP
cblr-2899	751	9	a	a	DET
cblr-2899	751	10	low	low	ADV
cblr-2899	751	11	-	-	PUNCT
cblr-2899	751	12	performing	perform	VERB
cblr-2899	751	13	agency	agency	NOUN
cblr-2899	751	14	will	will	AUX
cblr-2899	751	15	be	be	AUX
cblr-2899	751	16	required	require	VERB
cblr-2899	751	17	to	to	PART
cblr-2899	751	18	purchase	purchase	VERB
cblr-2899	751	19	an	an	DET
cblr-2899	751	20	additional	additional	ADJ
cblr-2899	751	21	rating	rating	NOUN
cblr-2899	751	22	from	from	ADP
cblr-2899	751	23	a	a	DET
cblr-2899	751	24	betterperforming	betterperforming	NOUN
cblr-2899	751	25	agency	agency	NOUN
cblr-2899	751	26	without	without	ADP
cblr-2899	751	27	such	such	DET
cblr-2899	751	28	a	a	DET
cblr-2899	751	29	designation	designation	NOUN
cblr-2899	751	30	.	.	PUNCT
cblr-2899	752	1	business	business	NOUN
cblr-2899	752	2	will	will	AUX
cblr-2899	752	3	therefore	therefore	ADV
cblr-2899	752	4	be	be	AUX
cblr-2899	752	5	diverted	divert	VERB
cblr-2899	752	6	to	to	ADP
cblr-2899	752	7	the	the	DET
cblr-2899	752	8	most	most	ADV
cblr-2899	752	9	efficient	efficient	ADJ
cblr-2899	752	10	rating	rating	NOUN
cblr-2899	752	11	agencies	agency	NOUN
cblr-2899	752	12	until	until	SCONJ
cblr-2899	752	13	the	the	DET
cblr-2899	752	14	low	low	ADV
cblr-2899	752	15	-	-	PUNCT
cblr-2899	752	16	performing	perform	VERB
cblr-2899	752	17	agency	agency	NOUN
cblr-2899	752	18	has	have	AUX
cblr-2899	752	19	adapted	adapt	VERB
cblr-2899	752	20	its	its	PRON
cblr-2899	752	21	models	model	NOUN
cblr-2899	752	22	and	and	CCONJ
cblr-2899	752	23	returned	return	VERB
cblr-2899	752	24	to	to	ADP
cblr-2899	752	25	an	an	DET
cblr-2899	752	26	acceptable	acceptable	ADJ
cblr-2899	752	27	level	level	NOUN
cblr-2899	752	28	of	of	ADP
cblr-2899	752	29	accuracy	accuracy	NOUN
cblr-2899	752	30	.	.	PUNCT
cblr-2899	753	1	assuming	assume	VERB
cblr-2899	753	2	this	this	DET
cblr-2899	753	3	proposal	proposal	NOUN
cblr-2899	753	4	is	be	AUX
cblr-2899	753	5	accepted	accept	VERB
cblr-2899	753	6	and	and	CCONJ
cblr-2899	753	7	u.s	u.s	PROPN
cblr-2899	753	8	.	.	PROPN
cblr-2899	753	9	regulators	regulator	NOUN
cblr-2899	753	10	go	go	VERB
cblr-2899	753	11	through	through	ADP
cblr-2899	753	12	the	the	DET
cblr-2899	753	13	effort	effort	NOUN
cblr-2899	753	14	of	of	ADP
cblr-2899	753	15	implementing	implement	VERB
cblr-2899	753	16	such	such	DET
cblr-2899	753	17	an	an	DET
cblr-2899	753	18	extensive	extensive	ADJ
cblr-2899	753	19	plan	plan	NOUN
cblr-2899	753	20	,	,	PUNCT
cblr-2899	753	21	it	it	PRON
cblr-2899	753	22	will	will	AUX
cblr-2899	753	23	be	be	AUX
cblr-2899	753	24	imperative	imperative	ADJ
cblr-2899	753	25	to	to	PART
cblr-2899	753	26	re	re	VERB
cblr-2899	753	27	-	-	VERB
cblr-2899	753	28	evaluate	evaluate	VERB
cblr-2899	753	29	the	the	DET
cblr-2899	753	30	decision	decision	NOUN
cblr-2899	753	31	to	to	PART
cblr-2899	753	32	remove	remove	VERB
cblr-2899	753	33	all	all	DET
cblr-2899	753	34	references	reference	NOUN
cblr-2899	753	35	to	to	ADP
cblr-2899	753	36	credit	credit	NOUN
cblr-2899	753	37	ratings	rating	NOUN
cblr-2899	753	38	in	in	ADP
cblr-2899	753	39	regulations	regulation	NOUN
cblr-2899	753	40	.	.	PUNCT
cblr-2899	754	1	requiring	require	VERB
cblr-2899	754	2	the	the	DET
cblr-2899	754	3	government	government	NOUN
cblr-2899	754	4	,	,	PUNCT
cblr-2899	754	5	institutional	institutional	ADJ
cblr-2899	754	6	investors	investor	NOUN
cblr-2899	754	7	,	,	PUNCT
cblr-2899	754	8	and	and	CCONJ
cblr-2899	754	9	others	other	NOUN
cblr-2899	754	10	to	to	PART
cblr-2899	754	11	engage	engage	VERB
cblr-2899	754	12	in	in	ADP
cblr-2899	754	13	their	their	PRON
cblr-2899	754	14	own	own	ADJ
cblr-2899	754	15	in	in	ADP
cblr-2899	754	16	-	-	PUNCT
cblr-2899	754	17	house	house	NOUN
cblr-2899	754	18	credit	credit	NOUN
cblr-2899	754	19	analysis	analysis	NOUN
cblr-2899	754	20	is	be	AUX
cblr-2899	754	21	wasteful	wasteful	ADJ
cblr-2899	754	22	in	in	ADP
cblr-2899	754	23	a	a	DET
cblr-2899	754	24	market	market	NOUN
cblr-2899	754	25	where	where	SCONJ
cblr-2899	754	26	cras	cras	PROPN
cblr-2899	754	27	operate	operate	VERB
cblr-2899	754	28	with	with	ADP
cblr-2899	754	29	the	the	DET
cblr-2899	754	30	right	right	ADJ
cblr-2899	754	31	incentives	incentive	NOUN
cblr-2899	754	32	to	to	PART
cblr-2899	754	33	compete	compete	VERB
cblr-2899	754	34	for	for	ADP
cblr-2899	754	35	accuracy	accuracy	NOUN
cblr-2899	754	36	.	.	PUNCT
cblr-2899	755	1	there	there	PRON
cblr-2899	755	2	is	be	VERB
cblr-2899	755	3	also	also	ADV
cblr-2899	755	4	the	the	DET
cblr-2899	755	5	risk	risk	NOUN
cblr-2899	755	6	of	of	ADP
cblr-2899	755	7	inconsistency	inconsistency	NOUN
cblr-2899	755	8	between	between	ADP
cblr-2899	755	9	the	the	DET
cblr-2899	755	10	different	different	ADJ
cblr-2899	755	11	approaches	approach	NOUN
cblr-2899	755	12	used	use	VERB
cblr-2899	755	13	to	to	PART
cblr-2899	755	14	evaluate	evaluate	VERB
cblr-2899	755	15	risk	risk	NOUN
cblr-2899	755	16	if	if	SCONJ
cblr-2899	755	17	no	no	DET
cblr-2899	755	18	standards	standard	NOUN
cblr-2899	755	19	are	be	AUX
cblr-2899	755	20	mandated	mandate	VERB
cblr-2899	755	21	.	.	PUNCT
cblr-2899	756	1	keeping	keep	VERB
cblr-2899	756	2	the	the	DET
cblr-2899	756	3	nrsro	nrsro	ADJ
cblr-2899	756	4	status	status	NOUN
cblr-2899	756	5	valuable	valuable	ADJ
cblr-2899	756	6	to	to	ADP
cblr-2899	756	7	cras	cras	X
cblr-2899	756	8	,	,	PUNCT
cblr-2899	756	9	in	in	ADP
cblr-2899	756	10	part	part	NOUN
cblr-2899	756	11	by	by	ADP
cblr-2899	756	12	incorporating	incorporate	VERB
cblr-2899	756	13	references	reference	NOUN
cblr-2899	756	14	to	to	ADP
cblr-2899	756	15	the	the	DET
cblr-2899	756	16	nrsro	nrsro	ADJ
cblr-2899	756	17	ratings	rating	NOUN
cblr-2899	756	18	in	in	ADP
cblr-2899	756	19	regulations	regulation	NOUN
cblr-2899	756	20	,	,	PUNCT
cblr-2899	756	21	will	will	AUX
cblr-2899	756	22	also	also	ADV
cblr-2899	756	23	encourage	encourage	VERB
cblr-2899	756	24	participants	participant	NOUN
cblr-2899	756	25	to	to	PART
cblr-2899	756	26	remain	remain	VERB
cblr-2899	756	27	nrsros	nrsros	ADJ
cblr-2899	756	28	and	and	CCONJ
cblr-2899	756	29	submit	submit	VERB
cblr-2899	756	30	to	to	ADP
cblr-2899	756	31	regulations	regulation	NOUN
cblr-2899	756	32	governing	govern	VERB
cblr-2899	756	33	the	the	DET
cblr-2899	756	34	right	right	NOUN
cblr-2899	756	35	to	to	PART
cblr-2899	756	36	hold	hold	VERB
cblr-2899	756	37	the	the	DET
cblr-2899	756	38	designation	designation	NOUN
cblr-2899	756	39	.	.	PUNCT
cblr-2899	757	1	this	this	PRON
cblr-2899	757	2	allows	allow	VERB
cblr-2899	757	3	for	for	ADP
cblr-2899	757	4	tougher	tough	ADJ
cblr-2899	757	5	regulatory	regulatory	ADJ
cblr-2899	757	6	requirements	requirement	NOUN
cblr-2899	757	7	that	that	PRON
cblr-2899	757	8	can	can	AUX
cblr-2899	757	9	be	be	AUX
cblr-2899	757	10	imposed	impose	VERB
cblr-2899	757	11	on	on	ADP
cblr-2899	757	12	a	a	DET
cblr-2899	757	13	defined	define	VERB
cblr-2899	757	14	and	and	CCONJ
cblr-2899	757	15	more	more	ADV
cblr-2899	757	16	easily	easily	ADV
cblr-2899	757	17	monitored	monitor	VERB
cblr-2899	757	18	group	group	NOUN
cblr-2899	757	19	.	.	PUNCT
cblr-2899	758	1	despite	despite	SCONJ
cblr-2899	758	2	some	some	DET
cblr-2899	758	3	concerns	concern	NOUN
cblr-2899	758	4	,	,	PUNCT
cblr-2899	758	5	regulatory	regulatory	ADJ
cblr-2899	758	6	power	power	NOUN
cblr-2899	758	7	is	be	AUX
cblr-2899	758	8	also	also	ADV
cblr-2899	758	9	not	not	PART
cblr-2899	758	10	the	the	DET
cblr-2899	758	11	explanation	explanation	NOUN
cblr-2899	758	12	for	for	ADP
cblr-2899	758	13	the	the	DET
cblr-2899	758	14	market	market	NOUN
cblr-2899	758	15	dominance	dominance	NOUN
cblr-2899	758	16	of	of	ADP
cblr-2899	758	17	moody	moody	PROPN
cblr-2899	758	18	's	's	PART
cblr-2899	758	19	,	,	PUNCT
cblr-2899	758	20	s&p	s&p	PROPN
cblr-2899	758	21	,	,	PUNCT
cblr-2899	758	22	and	and	CCONJ
cblr-2899	758	23	fitch	fitch	VERB
cblr-2899	758	24	since	since	SCONJ
cblr-2899	758	25	it	it	PRON
cblr-2899	758	26	"	"	PUNCT
cblr-2899	758	27	preceded	precede	VERB
cblr-2899	758	28	the	the	DET
cblr-2899	758	29	sec	sec	PROPN
cblr-2899	758	30	's	's	PART
cblr-2899	758	31	creation	creation	NOUN
cblr-2899	758	32	of	of	ADP
cblr-2899	758	33	nrsros	nrsros	PROPN
cblr-2899	758	34	,	,	PUNCT
cblr-2899	758	35	prevailed	prevail	VERB
cblr-2899	758	36	in	in	ADP
cblr-2899	758	37	europe	europe	PROPN
cblr-2899	758	38	as	as	ADV
cblr-2899	758	39	well	well	ADV
cblr-2899	758	40	as	as	ADP
cblr-2899	758	41	the	the	DET
cblr-2899	758	42	united	united	PROPN
cblr-2899	758	43	states	states	PROPN
cblr-2899	758	44	,	,	PUNCT
cblr-2899	758	45	despite	despite	SCONJ
cblr-2899	758	46	the	the	DET
cblr-2899	758	47	absence	absence	NOUN
cblr-2899	758	48	of	of	ADP
cblr-2899	758	49	any	any	DET
cblr-2899	758	50	similar	similar	ADJ
cblr-2899	758	51	regulatory	regulatory	ADJ
cblr-2899	758	52	authority	authority	NOUN
cblr-2899	758	53	in	in	ADP
cblr-2899	758	54	europe	europe	PROPN
cblr-2899	758	55	,	,	PUNCT
cblr-2899	758	56	and	and	CCONJ
cblr-2899	758	57	has	have	AUX
cblr-2899	758	58	persisted	persist	VERB
cblr-2899	758	59	in	in	ADP
cblr-2899	758	60	the	the	DET
cblr-2899	758	61	united	united	PROPN
cblr-2899	758	62	states	states	PROPN
cblr-2899	758	63	"	"	PUNCT
cblr-2899	758	64	even	even	ADV
cblr-2899	758	65	after	after	SCONJ
cblr-2899	758	66	the	the	DET
cblr-2899	758	67	sec	sec	PROPN
cblr-2899	758	68	expanded	expand	VERB
cblr-2899	758	69	the	the	DET
cblr-2899	758	70	number	number	NOUN
cblr-2899	758	71	of	of	ADP
cblr-2899	758	72	nrsros	nrsro	NOUN
cblr-2899	758	73	in	in	ADP
cblr-2899	758	74	the	the	DET
cblr-2899	758	75	market	market	NOUN
cblr-2899	758	76	to	to	ADP
cblr-2899	758	77	ten.1	ten.1	NUM
cblr-2899	758	78	9	9	NUM
cblr-2899	758	79	3	3	NUM
cblr-2899	758	80	this	this	PRON
cblr-2899	758	81	is	be	AUX
cblr-2899	758	82	not	not	PART
cblr-2899	758	83	to	to	PART
cblr-2899	758	84	say	say	VERB
cblr-2899	758	85	that	that	SCONJ
cblr-2899	758	86	by	by	ADP
cblr-2899	758	87	reinstating	reinstate	VERB
cblr-2899	758	88	credit	credit	NOUN
cblr-2899	758	89	ratings	rating	NOUN
cblr-2899	758	90	in	in	ADP
cblr-2899	758	91	regulation	regulation	NOUN
cblr-2899	758	92	investors	investor	NOUN
cblr-2899	758	93	should	should	AUX
cblr-2899	758	94	not	not	PART
cblr-2899	758	95	individually	individually	ADV
cblr-2899	758	96	evaluate	evaluate	VERB
cblr-2899	758	97	the	the	DET
cblr-2899	758	98	risks	risk	NOUN
cblr-2899	758	99	of	of	ADP
cblr-2899	758	100	the	the	DET
cblr-2899	758	101	products	product	NOUN
cblr-2899	758	102	they	they	PRON
cblr-2899	758	103	buy	buy	VERB
cblr-2899	758	104	.	.	PUNCT
cblr-2899	759	1	in	in	ADP
cblr-2899	759	2	fact	fact	NOUN
cblr-2899	759	3	,	,	PUNCT
cblr-2899	759	4	it	it	PRON
cblr-2899	759	5	is	be	AUX
cblr-2899	759	6	essential	essential	ADJ
cblr-2899	759	7	that	that	SCONJ
cblr-2899	759	8	investors	investor	NOUN
cblr-2899	759	9	remain	remain	VERB
cblr-2899	759	10	aware	aware	ADJ
cblr-2899	759	11	that	that	SCONJ
cblr-2899	759	12	ratings	rating	NOUN
cblr-2899	759	13	are	be	AUX
cblr-2899	759	14	mere	mere	ADJ
cblr-2899	759	15	predictions	prediction	NOUN
cblr-2899	759	16	of	of	ADP
cblr-2899	759	17	193	193	NUM
cblr-2899	759	18	coffee	coffee	NOUN
cblr-2899	759	19	,	,	PUNCT
cblr-2899	759	20	supra	supra	PROPN
cblr-2899	759	21	note	note	NOUN
cblr-2899	759	22	33	33	NUM
cblr-2899	759	23	,	,	PUNCT
cblr-2899	759	24	at	at	ADP
cblr-2899	759	25	275	275	NUM
cblr-2899	759	26	.	.	PUNCT
cblr-2899	760	1	reg	reg	PROPN
cblr-2899	760	2	ula	ula	PROPN
cblr-2899	760	3	ting	ting	PROPN
cblr-2899	760	4	credit	credit	PROPN
cblr-2899	760	5	ra	ra	PROPN
cblr-2899	760	6	ting	te	VERB
cblr-2899	760	7	a	a	DET
cblr-2899	760	8	genciesno	genciesno	NOUN
cblr-2899	760	9	.	.	PUNCT
cblr-2899	761	1	3:9941	3:9941	NUM
cblr-2899	761	2	1047	1047	NUM
cblr-2899	761	3	columbia	columbia	PROPN
cblr-2899	761	4	business	business	PROPN
cblr-2899	761	5	law	law	PROPN
cblr-2899	761	6	review	review	NOUN
cblr-2899	761	7	risk	risk	NOUN
cblr-2899	761	8	.	.	PUNCT
cblr-2899	762	1	even	even	ADV
cblr-2899	762	2	with	with	ADP
cblr-2899	762	3	the	the	DET
cblr-2899	762	4	right	right	ADJ
cblr-2899	762	5	incentives	incentive	NOUN
cblr-2899	762	6	in	in	ADP
cblr-2899	762	7	place	place	NOUN
cblr-2899	762	8	,	,	PUNCT
cblr-2899	762	9	cras	cras	PROPN
cblr-2899	762	10	or	or	CCONJ
cblr-2899	762	11	any	any	DET
cblr-2899	762	12	other	other	ADJ
cblr-2899	762	13	mechanism	mechanism	NOUN
cblr-2899	762	14	in	in	ADP
cblr-2899	762	15	the	the	DET
cblr-2899	762	16	market	market	NOUN
cblr-2899	762	17	inevitably	inevitably	ADV
cblr-2899	762	18	may	may	AUX
cblr-2899	762	19	be	be	AUX
cblr-2899	762	20	inadequate	inadequate	ADJ
cblr-2899	762	21	for	for	ADP
cblr-2899	762	22	estimating	estimate	VERB
cblr-2899	762	23	the	the	DET
cblr-2899	762	24	risk	risk	NOUN
cblr-2899	762	25	associated	associate	VERB
cblr-2899	762	26	with	with	ADP
cblr-2899	762	27	new	new	ADJ
cblr-2899	762	28	products	product	NOUN
cblr-2899	762	29	for	for	ADP
cblr-2899	762	30	which	which	PRON
cblr-2899	762	31	there	there	PRON
cblr-2899	762	32	is	be	VERB
cblr-2899	762	33	little	little	ADJ
cblr-2899	762	34	historical	historical	ADJ
cblr-2899	762	35	data	datum	NOUN
cblr-2899	762	36	.	.	PUNCT
cblr-2899	763	1	ratings	rating	NOUN
cblr-2899	763	2	,	,	PUNCT
cblr-2899	763	3	whether	whether	SCONJ
cblr-2899	763	4	accurate	accurate	ADJ
cblr-2899	763	5	or	or	CCONJ
cblr-2899	763	6	not	not	PART
cblr-2899	763	7	,	,	PUNCT
cblr-2899	763	8	also	also	ADV
cblr-2899	763	9	inherently	inherently	ADV
cblr-2899	763	10	create	create	VERB
cblr-2899	763	11	systemic	systemic	ADJ
cblr-2899	763	12	risk	risk	NOUN
cblr-2899	763	13	by	by	ADP
cblr-2899	763	14	perpetuating	perpetuate	VERB
cblr-2899	763	15	boom	boom	NOUN
cblr-2899	763	16	and	and	CCONJ
cblr-2899	763	17	bust	bust	NOUN
cblr-2899	763	18	cycles	cycle	NOUN
cblr-2899	763	19	since	since	SCONJ
cblr-2899	763	20	"	"	PUNCT
cblr-2899	763	21	[	[	X
cblr-2899	763	22	u]nanticipated	u]nanticipated	ADJ
cblr-2899	763	23	abrupt	abrupt	ADJ
cblr-2899	763	24	downgrades	downgrade	NOUN
cblr-2899	763	25	of	of	ADP
cblr-2899	763	26	securities	security	NOUN
cblr-2899	763	27	are	be	AUX
cblr-2899	763	28	.	.	PUNCT
cblr-2899	764	1	..	..	PUNCT
cblr-2899	765	1	negative	negative	ADJ
cblr-2899	765	2	shocks	shock	NOUN
cblr-2899	765	3	to	to	ADP
cblr-2899	765	4	securities	security	NOUN
cblr-2899	765	5	markets	market	NOUN
cblr-2899	765	6	and	and	CCONJ
cblr-2899	765	7	can	can	AUX
cblr-2899	765	8	affect	affect	VERB
cblr-2899	765	9	one	one	NUM
cblr-2899	765	10	issuer	issuer	NOUN
cblr-2899	765	11	,	,	PUNCT
cblr-2899	765	12	a	a	DET
cblr-2899	765	13	whole	whole	ADJ
cblr-2899	765	14	sector	sector	NOUN
cblr-2899	765	15	,	,	PUNCT
cblr-2899	765	16	or	or	CCONJ
cblr-2899	765	17	the	the	DET
cblr-2899	765	18	entire	entire	ADJ
cblr-2899	765	19	financial	financial	ADJ
cblr-2899	765	20	system	system	NOUN
cblr-2899	765	21	.	.	PUNCT
cblr-2899	766	1	"194	"194	PROPN
cblr-2899	766	2	therefore	therefore	ADV
cblr-2899	766	3	,	,	PUNCT
cblr-2899	766	4	investors	investor	NOUN
cblr-2899	766	5	must	must	AUX
cblr-2899	766	6	always	always	ADV
cblr-2899	766	7	be	be	AUX
cblr-2899	766	8	cautious	cautious	ADJ
cblr-2899	766	9	.	.	PUNCT
cblr-2899	767	1	if	if	SCONJ
cblr-2899	767	2	the	the	DET
cblr-2899	767	3	crisis	crisis	NOUN
cblr-2899	767	4	has	have	AUX
cblr-2899	767	5	taught	teach	VERB
cblr-2899	767	6	us	we	PRON
cblr-2899	767	7	anything	anything	PRON
cblr-2899	767	8	,	,	PUNCT
cblr-2899	767	9	it	it	PRON
cblr-2899	767	10	should	should	AUX
cblr-2899	767	11	be	be	AUX
cblr-2899	767	12	that	that	SCONJ
cblr-2899	767	13	the	the	DET
cblr-2899	767	14	difficulty	difficulty	NOUN
cblr-2899	767	15	to	to	ADP
cblr-2899	767	16	of	of	ADP
cblr-2899	767	17	keeping	keep	VERB
cblr-2899	767	18	up	up	ADP
cblr-2899	767	19	with	with	ADP
cblr-2899	767	20	the	the	DET
cblr-2899	767	21	rapid	rapid	ADJ
cblr-2899	767	22	growth	growth	NOUN
cblr-2899	767	23	and	and	CCONJ
cblr-2899	767	24	changes	change	NOUN
cblr-2899	767	25	that	that	PRON
cblr-2899	767	26	characterize	characterize	VERB
cblr-2899	767	27	our	our	PRON
cblr-2899	767	28	modern	modern	ADJ
cblr-2899	767	29	financial	financial	ADJ
cblr-2899	767	30	system	system	NOUN
cblr-2899	767	31	carries	carry	VERB
cblr-2899	767	32	uncertainty	uncertainty	NOUN
cblr-2899	767	33	and	and	CCONJ
cblr-2899	767	34	risk	risk	NOUN
cblr-2899	767	35	that	that	SCONJ
cblr-2899	767	36	no	no	DET
cblr-2899	767	37	regulation	regulation	NOUN
cblr-2899	767	38	can	can	AUX
cblr-2899	767	39	completely	completely	ADV
cblr-2899	767	40	protect	protect	VERB
cblr-2899	767	41	against	against	ADP
cblr-2899	767	42	.	.	PROPN
cblr-2899	768	1	194	194	NUM
cblr-2899	768	2	sy	sy	PROPN
cblr-2899	768	3	,	,	PUNCT
cblr-2899	768	4	supra	supra	PROPN
cblr-2899	768	5	note	note	PROPN
cblr-2899	768	6	28	28	NUM
cblr-2899	768	7	,	,	PUNCT
cblr-2899	768	8	at	at	ADP
cblr-2899	768	9	3	3	NUM
cblr-2899	768	10	.	.	NOUN
cblr-2899	768	11	1048	1048	NUM
cblr-2899	769	1	[	[	X
cblr-2899	769	2	vol	vol	NOUN
cblr-2899	769	3	.	.	PUNCT
cblr-2899	769	4	2012	2012	NUM