Tags
banks, China, conflict of interests, controls, crisis, democracy, Espana, eu, euro, G20, Greece, Hellas, Italia, Italy, law, markets, Moody´s, non state actors, otc, rating, rating agencies, risk management, sovereign, Spain, Standard & Poor´s, transparency, USA
For several decades regulators and politicians alike have been relying on credit ratings to serve public policy objectives. The dilemma of reconciling the dual roles of private-sector opinion provider and public-policy regulatory tool is increasingly acute, complex and has become a circle that possibly cannot be squared. A solution is to limit regulatory reliance on ratings and increase both the number and variety of independent opinions in the market…
http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_140771
