> [Look at] the role of the bond rating agencies in 2008, which is completely unreformed. Why would that be? Well, there must be a lack of consensus. I think w

> [Look at] the role of the bond rating agencies in 2008, which is completely unreformed. Why would that be? Well, there must be a lack of consensus. I think we have a an obvious reason for the lack of consensus here, which is cognitive/regulatory capture. You'll always find someone willing to muddy the waters for a little cash and some sort of career advancement. Economics is the ideological science _par excellence_.