S&P hires an ombudsman

Standard & Poor's, aiming to allay concerns about its compromised ratings work, has tapped Ray Groves, retired chief of a Marsh & McLennan insurance brokerage, as ombudsman. Apparently, it is a new position. He'll be expected to weigh in publicly about how the company is faring with its transparency and related efforts. Some argue that this is merely PR. We'll see. Article