...and the best part: the new central authority in Europe told the US gentlemen´s rating agency club, that is not a given fact that Moodys, Fitch and S&P can "automatically" keep on working in Europe. http://www.handelsblatt.com/politik...ge-aus-hessen-fuer-moodys-und-co/4320602.html Get rid off Moodys, S&P and Fitch and you get rid off 95 % of the problems of the credit bubble of the last 25 years!!!!!!!
and via google translate: http://translate.google.com/transla...ge-aus-hessen-fuer-moodys-und-co/4320602.html
Yes, but who's to say that 'money' won't again win over objectivity? The whole system is rotten to the core, the US, Europe, Far East - everyone in the financial markets has a price to look the other way. And who loses anyway with the corrupt ratings, not the banks. It's the investors and pension funds who's sole role these days seems to be to bend over and take it up the rear. Just glad I've got 100% control over my pension, anything to keep it away from the professional money managers, 95% of whom put their interests ahead of their clients........
Aren't the credit agencies the ones who will determine if whatever action is taken on Greece's debt consitutes a default? Gee, I wonder if the timing of this announcement has anything to do with that......