Someone I talked to once said that its time to get rid of rating agencies and replace them with open source rating systems. If we did this, companies could pos

Someone I talked to once said that its time to get rid of rating agencies and replace them with open source rating systems. If we did this, companies could post their own rating and it could be verified by anyone who was interested in them. In addition, people with very specific requirements (for whom the regular ratings don't work) could tweak the systems as needed. I'm skeptical about this working since rating agencies should, in addition to following formulaic rules, look for company specific pieces of information that would affect the rating, but its an interesting idea.