Cato Video •

Gerald P. O’Driscoll, Jr. discusses credit ratings and the housing crisis.

What role did credit ratings play in the financial crisis? Gerald P. O’Driscoll Jr. is a senior fellow at the Cato Institute and former vice president at the Dallas Federal Reserve. He says credit rating agencies are a government cartel. O’Driscoll spoke at the Cato Institute’s Monetary Conference in 2010.