European Tribune - Comments - European Salon de News, Discussion et Klatsch

European Salon de News, Discussion et Klatsch - 14. January | 88 comments (88 topical, 0 editorial, 0 hidden)

Given that S&P (and Moody's, and Fitch) has been shown not to know how to rate a subprime mortgage CDO², why can we assume it knows how to rate a country?

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Tue Jan 13th, 2009 at 04:10:54 PM EST
[ Parent ]

Re: Barf (none / 1)

You have to suspect the eventually some whistleblower will come forward and explain how much political influence there is in the process of American ratings agencies rating foreign countries. It's too useful a tool not to have been used.

by Metatone (metatone [a|t] gmail (dot) com) on Wed Jan 14th, 2009 at 05:37:24 AM EST
[ Parent ]

Re: Barf (none / 0)

That whistle blower will get hit by a bus for sure.

by paving on Wed Jan 14th, 2009 at 02:44:08 PM EST
[ Parent ]

European Salon de News, Discussion et Klatsch - 14. January | 88 comments (88 topical, 0 editorial, 0 hidden)

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