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And people will believe the ones paid by the billionaires with real skin in the game before the government bureaucrats, like they do now in every filed regulated by government ratings and analysis.

"People" and "wealthy investors" can believe whatever they want. The point here is to prevent the banks from counterfeiting, not to prevent market-worshippers from being separated from their money.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Apr 26th, 2010 at 05:15:36 PM EST
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Agreed, but my point is that people willing to risk their money -- including governments in many cases -- will just ignore the cumbersome US government paid rating agencies anyway and go with the private ones, like they do now.
by santiago on Tue Apr 27th, 2010 at 03:39:47 PM EST
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