Credit rating agencies: the wrong institutions for public judgement | openDemocracy

Whether the ratings agencies get this or that decision right or wrong – they were probably right in the case of the European downgrades – is not the point. They have become the buck-passing agencies for weakened states. The most important public judgements of credit-worthiness ought to be made in public institutions, not behind corporate doors. Continue reading…

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Filed under Financial crisis, Global finance

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