Yes. S&P, Moody's & Fitch seem to have the collective IQ of a kidney bean. Then you have trillions in pension funds shifting overnight because government regu

Yes. S&P, Moody's & Fitch seem to have the collective IQ of a kidney bean. Then you have trillions in pension funds shifting overnight because government regulations depend on the output of these rating agencies. You could shift regulation away from these, but maybe you might have your national debt downgraded? Ratings agencies pretty much terrify governments.