Rating the raters
Why haven’t the credit rating agencies paid any price for their involvement in the 2007 financial crisis? Are they being too severe on the EU members? Is it a way to make up for their fatal mistakes? Or can they be trusted when rating the sovereign debt as they’re not paid for it? Is there a way to regulate them without undermining their independence?
CrossTalking with Gary Witt, Mark Calabria and Richard Eskow on Dec. 14.