US Ratings Agencies : Um.. please don’t use our ratings
So, just as Ireland get’s downgraded by Moody’s, the Financial Reform Bill in the USA throws a spanner in the works, potentially making the agencies liable for inaccurate ratings. Their response – ‘stop using them please’. From the Wall Street Journal (via Naked Capitalism) The nation’s three dominant credit-ratings providers have made an urgent new request of their clients: Please don’t use our credit ratings. The odd plea is emerging as the first consequence of the financial overhaul that is …