While credit ratings have become an integral part of the financial system, making their way to valuation formulas and even legislation regulating pension fund investments, agencies have been off the hook for massive blunders, including their substantial responsibility in the 2007-2008 global financial crisis.
And there's a time in which we want to ensure that rate increases aren't slipped through as a part of the gap between when a bill is signed into law and when those exchanges are up and regulating price increases.