A couple of post on the Rating Agencies
Economists View: A Perfect Case Study of Flawed Incentives
Digbys blog: I for one welcome our idiot overlords
I think they should be dissolved. Sure, they serve a purpose but they damned-near destroyed the world's financial system by conspiring with the banks to overrate junk mortgage securities. Now, they're dictating government policy with the threat of a credit downgrade. How can they have more power than the US government?
tnb
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