This has nothing to do with stocks. The role the ratings agencies played in 2008 was about bonds. I also think it's unlikely that bonds see an Amazon-style ra

This has nothing to do with stocks. The role the ratings agencies played in 2008 was about bonds. I also think it's unlikely that bonds see an Amazon-style ratings system when the market for a lot of these specialized products is three pension funds in Dusseldorf. We're talking almost entirely about institutional investors.