http://online.wsj.com/article/SB123086073738348053.html Most individuals looked at AAA, etc. at face value, as a reliable means to justify investments.... If one were to just rely on market yields, then who did the risk work ? Perhaps a more boilerplate form of periodic reporting to be made at date certain in WIKI format would be more helpful.... Obviously, many who previously relied on Rating agencies....will need some other form of information in order to regain confidence....
Like common sense. That article is bad. The Rating Agencies knew EXACTLY what they were doing. When the shit hits the fan, they just claim ignorance. And you all fall for it. If you talk to some people who work at them or at least used to, you can get the real story.