~~~
Source:
Bill Black’s ‘Alternative’ to the Rating Agencies: “Get Rid of Them”
Aaron Task
Yahoo Tech Ticker, Aug 11, 2010
http://finance.yahoo.com/tech-ticker/bill-black%27s-%27alternative%27-to-the-rating-agencies-%22get-rid-of-them%22-535315.html
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Initial Jobless Claims for the week ended Feb 18th totaled 351k, 4k less than expected but the prior week was revised up by 3k to 351k. The 4 week average did fall to 359k from 366k, the lowest since Mar '08. Continuing Claims fell by 52k to the lowest since Aug '08. Also, Extended Benefits fell a net 69k. Bottom line, the data still points to a labor market that continues to improve however lumpy the process feels for many. ...
read more »
Tweet
Facebook
Reddit
Digg this!
August 11th, 2010 at 2:44 pm
He’s right. Question for anyone out there who cares to weigh in: isn’t the real reason the regulators don’t crack down on rating agencies due to the fact that regulators are affraid that if rating agencies are forced to change the way they rate so their ratings are more credible then the US Gov could lose its AAA credit rating and then institutionally mandated forced selling of downgraded securities would ensue and interest rates would spike and slow the economy down even more? in other words, the US Gov is one of the biggest constituents of the rating agencies and fear of losing AAA it is the real reason why no action has been taken by regulators?