Bernie Sanders' Financial Transformation

Bernie Sanders has officially laid out his financial transformation plan, which includes an idea to convert credit rating agencies into nonprofit organizations. The remodeling would occur over the course of two years until agencies are funded by a fee paid by issuers. The Sanders campaign plans to improve companies that had said that mortgage securities had close to no risk of default, which was proven false when they triggered a financial dilemma. Sanders thinks the ratings agencies' work should be appointed by an independent investor board, who would be chosen by the Securities and Exchange Commission (SEC). Sanders envisions the board to be filled with "representatives from pensions, mutual funds and organized labor."

http://www.huffingtonpost.com/entry/bernie-sanders-credit-rating-agency-reform-plan_56955d02e4b086bc1cd57afd?utm_hp_ref=politics&ir=Politics&section=politics