Downgrading the Credit Ratings Agencies

Attorney writes about problems with credit ratings agencies

FOR IMMEDIATE RELEASE
Chicago, Illinois, United States of America (Free-Press-Release.com) January 20, 2012 --Attorney releases whitepaper on problems with credit ratings agencies after S&P's downgrade of the European Financial Stability Facility ("EFSF") hampering the fund's ability to contain the European debt crisis. This comes on the heel's of the S&P stripping both France and Austria of their triple-A rating in favor of a rating of AA+.
R. Tamara de Silva states that, "the ratings agencies exist to level asymmetries in information and evaluate risk but one of their inherent oddities is that they seek to compare things whose differences in scale make them incomparable. Ratings agencies also have conflicts of interests, they often evaluate financial products (like collateralized debt obligations) that they do not understand, they seem to lack fixed ways to measure absolute risk, and they are at times, catastrophically wrong."
Complete paper can be read here: http://www.timelyobjections.com/2012/01/comparing-the-incomparable--credit-ratings-agencies-revisited.html

More information can be found online at http://www.timelyobjections.com/2012/01/comparing-the-incomparable--credit-ratings-agencies-revisited.html

credit crisis     credit ratings agencies     debt     European Debt Crisis     Moody s     r tamara de Silva     S P     Tamara de Silva