Why do people 'rate' the ratings agencies?

  1. peterxdunn profile image58
    peterxdunnposted 6 years ago

    Why do people 'rate' the ratings agencies?

    Some institutions are now having their credit rating downgraded by Standard & Poor's because they invested too much capital in securities recommended: ie were given a triple A rating, by - believe it or not - Standard & Poor's. Their capital got wiped out and S & P are now sticking the boot in.

    Somebody should prosecute this guys. Do'nt you think?

  2. profile image0
    erikjohnsonposted 6 years ago

    I think credit rating agencies are scandalous.  They for sure use their power to benefit them.  But who is keeping them in check?  They also spend millions on Washington Lobbyists so they have a lot of politicians in their back pocket.