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An EU plan to impose tougher rules on credit rating agencies is "dangerous" and would limit the...

An EU plan to impose tougher rules on credit rating agencies is "dangerous" and would limit the "quality and independence" of the rating process, Moody's (MCO) President and COO Michel Madelain says. The proposal reflects "an obsession to challenge the rating process itself, and to hold rating agencies responsible for the European debt crisis," in his view.
Comments (6)
  • Tom Guttenberger
    , contributor
    Comments (717) | Send Message
     
    That would be his view, now wouldn't it.
    16 Nov 2011, 10:21 AM Reply Like
  • Caladesi Kid
    , contributor
    Comments (186) | Send Message
     
    Well of course the rating agencies are to blame! Just ask Obama.
    16 Nov 2011, 10:21 AM Reply Like
  • Lint
    , contributor
    Comments (391) | Send Message
     
    I wonder if Michel Madelain continues to see AAA rated sub-prime MBS as an indicator of "quality and independence" of the rating process.
    16 Nov 2011, 10:27 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    The ratings agencys are so far behind the curve....to me this is a joke...
    16 Nov 2011, 10:40 AM Reply Like
  • User 502794
    , contributor
    Comments (122) | Send Message
     
    the ratings agencies ARE responsible for the european debt crisis. had they been doing their job by issuing downgrades as debt quantities mounted and as the quality of that debt diminished...the size of this mess would be much more manageable
    16 Nov 2011, 11:12 AM Reply Like
  • Lint
    , contributor
    Comments (391) | Send Message
     
    The credit agencies are just a cog in the wheel. There's enough blame to go around: Politicians, regulators, bankers, credit agencies,and sovereign citizens demanding a free lunch.

     

    The charlatans have infected every aspect of our lives. It's time to take control before it all disintegrates.
    16 Nov 2011, 11:17 AM Reply Like
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