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

European Salon de News, Discussion et Klatsch - 21. September | 72 comments (72 topical, 0 editorial, 0 hidden)

Credit ratings should be taken out of the centre of financial regulation, which is where they have been put over the past few years.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Sun Sep 21st, 2008 at 09:14:04 AM EST
[ Parent ]

Re: Holy sh*t! (4.00 / 2)

You don't think having private companies effectively setting determining the global interest rate schedule is a good idea? As we all know the Unobservable Foot¹ of the Market does just fine. Look at the US and UK for proof.

¹ My humble suggestion for updating the 'Invisible Hand' metaphor.

by ATinNM on Sun Sep 21st, 2008 at 09:33:31 AM EST
[ Parent ]

Re: Holy sh*t! (none / 0)

No, it is an atrocious idea. Almost as bad as personal credit rating.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Sun Sep 21st, 2008 at 01:23:03 PM EST
[ Parent ]

European Salon de News, Discussion et Klatsch - 21. September | 72 comments (72 topical, 0 editorial, 0 hidden)

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