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What's frustrating for me is I don't know how much to trust the ratings agencies any more after their involvement in the 2008 financial crisis. Moody's in parti
by grzm 9y ago
What's frustrating for me is I don't know how much to trust the ratings agencies any more after their involvement in the 2008 financial crisis. Moody's in particular was fined over $800 million. Admittedly part of that is ignorance of how the agencies have performed overall, but that is such a strong black mark. Trust is one of those things that once lost is hard to regain.
- t3rmi 9y agoMaybe we can trust the bad ratings but not the good ones :P
- saiya-jin 9y agoYou're completely right in not trusting those agencies, they are generally big pile of shit and egos and little more (to be polite). The problem is, markets +-trust them, since there isn't anything better (although bringing better than shit shouldn't be impossible).