Monday, August 15, 2011
Are credit rating agencies credible?
Recently Standard & Poor's downgraded the US' credit score, but people are wondering if this downgrade really means anything? These same agencies gave Lehman Brothers and Bear Stearns excellent credit ratings. What drives the interests of these credit rating agencies? Do they have their own agenda? Karl Denninger, from The Market Ticker, gets to the bottom of this.
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