you have a good idea but, sorry to say this, but you don't know much about rating agencies. Touch base with experts to make your presentation more compelling.
Good analysis of the lack of accountability and conflicts of interest inherent in the ratings agency system in the USA. You fail to mention that they get away with this not only due to lack of regulation, but because the judicial system allows them to call their ratings "opinion", thus protected as free speech. That means that it is practically impossible to hold them accountable for their self-dealing. Thus, when billions are lost due to reliance on their ratings there is no recourse. Insanity.
you have a good idea but, sorry to say this, but you don't know much about rating agencies. Touch base with experts to make your presentation more compelling.
jespal1 2 years ago
Good analysis of the lack of accountability and conflicts of interest inherent in the ratings agency system in the USA. You fail to mention that they get away with this not only due to lack of regulation, but because the judicial system allows them to call their ratings "opinion", thus protected as free speech. That means that it is practically impossible to hold them accountable for their self-dealing. Thus, when billions are lost due to reliance on their ratings there is no recourse. Insanity.
emaij 2 years ago
I don't know a whole lot about this stuff, but I have not been feeling like there's a level playing field for ordinary securities investors.
Hope these guys can get it done before too long.
gitterdun 2 years ago