Examining the Credit Agencies: The More They Compete, the Higher Their Ratings [View article]
Very important issue -- but it is probably a tendency that can be predicted by investors and regulators.
The more serious issue is when Ratings Agency policies contribute to procyclic tendencies in the ABS market. See Ashcraft and Schuermann : papers.ssrn.com/sol3/p...
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Very important issue -- but it is probably a tendency that can be predicted by investors and regulators.
Oct 22 09:50 am
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All Comments by kingaj12 »Examining the Credit Agencies: The More They Compete, the Higher Their Ratings [View article]
The more serious issue is when Ratings Agency policies contribute to procyclic tendencies in the ABS market. See Ashcraft and Schuermann : papers.ssrn.com/sol3/p...