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Don't the credit rating agencies work the same way? The companies being rated pay the agencies, not the companies that want to know the rating.
by JonnieCache 15y ago
Don't the credit rating agencies work the same way? The companies being rated pay the agencies, not the companies that want to know the rating.
- chalst 15y agoThey do. Their value is unclear. Accountants supposedly are employed by shareholders, but in practice are employed by executives. This makes auditing problematic, but it does have some value. The bigger problem there is the big four's oligopoly: they are too big to fail.
- JonnieCache 15y agoThought so. Why do people insist on inventing wacky conspiracy theories when the scam is right there in front of them?
- philwelch 15y agoHow are the big four all "too big to fail" when not too long ago they were the big five?
- chalst 15y agoSee, e.g., the discussion in http://www.economist.com/node/3984019 http://www.economist.com/node/3984019 Break-up of the big four has been proposed, I see in this mornings Financial Times: http://www.ft.com/intl/cms/s/0/a4f58dba-1a89-11e1-ae4e-00144feabdc0.html http://www.ft.com/intl/cms/s/0/a4f58dba-1a89-11e1-ae4e-00144...