Comments on: Cassandra’s curse? Insights behind the investment headlines Wed, 16 Nov 2016 21:43:49 +0000 hourly 1 By: oblomovs Sat, 13 Nov 2010 13:01:19 +0000 What you say about the rating agencies would be ok, if they had the 1) transparency of auditing companies 2) the responsibility of ombudsmen.

They have proven however to be dirty-dealers and actors in the financial crisis – profiting from transactions that were obviously close to being criminal – receiving commissions on the property deals – actively supporting over speculation if it is in their interest. They have also in their reach proven to be used as a tool of US foreign policy (what are the separation of powers?). Their influence over a country’s economy is beyond their remit. Moreover, as they say it is a bit rich for these agencies to assess and rate other countries when their own is in debt to what figure? Trillions? How many trillions. That the Europeans wish to emulate this system is ridiculous. It needs to be overhauled – and alternatives are possible.