Despite their self-proclaimed independent status, ratings agencies are more likely to influence than merely act as observers. This has been only too evident in the role the agencies played in the global economic downturn. So why is it we put so much faith in rating agencies when they get it wrong so often? Rating Agencies: Triple A junk After all, wasn’t it agencies such as Moody and S&P that applied an AAA stamp to subprime mortgage backed CDOs, defending their actions even while downgrading the very same institutions? When investors sued, the agencies declared that their AAA accreditation wasn’t a…
Time to Downgrade the Three Big Rating Agencies?
Kieran Ball
Kieran is a journalist and copywriter with a track record in excess of 15 years' in advertising, marketing and journalism. My work has appeared in TV, radio, press, online and almost every other conceivable medium. Kieran is based out of Ireland.
