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If you're thinking of just one round of testing this is true. But if a 3rd party tester gets a reputation for being tough then everyone tests with another test
by JamesBarney 10y ago
If you're thinking of just one round of testing this is true. But if a 3rd party tester gets a reputation for being tough then everyone tests with another tester. This creates a race to the bottom, where the is an implicit competition to get a reputation as the least stringent tester. This is essentially what happened with the credit rating agencies during the financial crisis.
- hueving 10y agoyou missed the part where he said choosing the tester is done by regulating authorities. That would prevent the financial ratings agency fiasco.