Rupert_Baehr Posted January 14, 2012 Share Posted January 14, 2012 I think there should be a credit rating agency rating agency. There is. It's not a formal ratings agency, it's called 'the investors'. It's up to the investors who use the Credit Rating Agencies to decide which (if any) to believe. I wonder how much investment capital has shifted from the rest of the world into China and India during the past few years? Link to comment Share on other sites More sharing options...
Phanerothyme Posted January 14, 2012 Share Posted January 14, 2012 There is. It's not a formal ratings agency, it's called 'the investors'. It's up to the investors who use the Credit Rating Agencies to decide which (if any) to believe. It seems like they need some help, because the CRAs don't appear to have a clue. Hence the need for a CRARA. I doubt S&P would be rated very highly, given that their ratings have been shown to be works of political fiction in the past. Or is it a case of "Past performance is not necessarily an indicator of future performance". Well Duh. Link to comment Share on other sites More sharing options...
Longcol Posted January 14, 2012 Share Posted January 14, 2012 It seems like they need some help, because the CRAs don't appear to have a clue. Hence the need for a CRARA. I doubt S&P would be rated very highly, given that their ratings have been shown to be works of political fiction in the past. Or is it a case of "Past performance is not necessarily an indicator of future performance". Well Duh. I would rate S&P as varying between "Standard" and "Poor" Link to comment Share on other sites More sharing options...
taxman Posted January 14, 2012 Share Posted January 14, 2012 Who elected Standard and Poor to have any impact whatsoever over Nation States and their policies? Tell them to eff off. Bunch of bloomin' leaches. Link to comment Share on other sites More sharing options...
Tony Posted January 14, 2012 Share Posted January 14, 2012 Who elected Standard and Poor to have any impact whatsoever over Nation States and their policies? Tell them to eff off. Bunch of bloomin' leaches. They don't have any impact, they just give their opinion. Nobody is compelled to listen to them or take action. Link to comment Share on other sites More sharing options...
Anna Glypta Posted January 14, 2012 Author Share Posted January 14, 2012 The fact that the UK has one of the best credit ratings in the world and enjoys some of the cheapest borrowing as a result really seems to be upsetting the usual suspects. Link to comment Share on other sites More sharing options...
I1L2T3 Posted January 14, 2012 Share Posted January 14, 2012 When ratings agencies were pressed by US congressmen investigating the 2008 collapse the agencies stated they were just expressing opinions. That's all they do. They're just a bunch of researchers and economists who are no better than any other researchers or economists. The problem is their 'opinions' have gained institutionalised acceptance, taken as gospel. It's ludicrous really. Link to comment Share on other sites More sharing options...
Phanerothyme Posted January 14, 2012 Share Posted January 14, 2012 They don't have any impact, they just give their opinion. Nobody is compelled to listen to them or take action. I don't think even S&P would argue that they "don't have any impact". Link to comment Share on other sites More sharing options...
Tony Posted January 14, 2012 Share Posted January 14, 2012 I don't think even S&P would argue that they "don't have any impact". Neither do I, but that wasn't the context of taxman's post. Link to comment Share on other sites More sharing options...
Chris_Sleeps Posted January 14, 2012 Share Posted January 14, 2012 The problem is their 'opinions' have gained institutionalised acceptance, taken as gospel. It's ludicrous really. It's especially ludicrous when they were rating banks as AAA around 4 hours before they ran out of money. The whole damn thing is ludicrous. Link to comment Share on other sites More sharing options...
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