tag:blogger.com,1999:blog-1288735147937019806.post3251251885802429661..comments2023-06-29T10:01:48.092+02:00Comments on Viewfinder : Poor standardsMirinohttp://www.blogger.com/profile/14762774089637304953noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1288735147937019806.post-70840043962615705542011-12-15T08:07:00.050+01:002011-12-15T08:07:00.050+01:00Assuming that the existence of credit rating agen...Assuming that the existence of credit rating agencies is justified, which is already an arguable point, would it not be more correct for the agencies to make sure that their assessments are absolutely exact before making them public (if making them public is deemed necessary in any case)?<br /><br />Regarding major banks during an important financial crisis, surely discretion should be given priority when the banks' credibility and the lively-hood of millions of people are also at stake?<br /><br />If an agency decrees that a particular bank should be 'placed under observation,' why publicise this? What is gained by making a public issue of this? Even if it's considered necessary, would it not be more responsible to discreetly inform the authorities concerned of such a decision or possibility, rather than shout it out on the roof tops? <br /><br />And where were these 'illustrious experts' regarding the Wall Street crisis? Why weren't all the dodgy banks there and then 'under observation' or down-graded? <br /><br />If the US credit rating agencies are as professional and as qualified as they pretend, why are we now submerged in a crisis that also originated in the USA?<br /><br />It therefore seems obvious that this over-publicisation of the possibility of downgrading creditability of financial institutions and economic governing in Europe, is done more for the purpose of undermining the economy, thus regularly creating gigantic losses on the stock-exchanges, than to make any positive contribution to improve the European economy, already over-strained as it is.<br /><br />In other words it appears that as far as Europe is concerned, these American agencies are doing a lot more harm than good. <br />Maybe one could affirm that the same applies to their influence in the USA, which certainly has not improved things there either.Mirinonoreply@blogger.com