A gift from Hereford for Moody’s February 15, 2012 at 11:25 am

The last post, BTW, was no. 1,500. Thank you wordpress for your sterling service over one and a half thousand posts.

Now to substantive if not entirely serious matters. You see, I was musing given all the furore over Moody’s placing us on negative outlook, shouldn’t we really teach them not to mess with sovereigns? We have those men in Hereford who work for the government, so surely some gentle persuasion can be applied…

Seriously though, does anyone really feel comfortable with the power the agencies still have, despite their manifest failings? As Claire Hill puts it, the history of rating agency reform has not been inspiring. Perhaps it is time to have another go.

3 Responses to “A gift from Hereford for Moody’s”

  1. If we’re uncomfortable with the rating agencies’ power, we have no one to blame but “ourselves” – central banks, governments, regulators, risk managers…

  2. …. shoot the messanger? :-)

    I agree with Kliffmeister!

    Rating agencies were given a huge amount of power without check and balances….

    Set a doberman in from of a big pile of fresh beef – order the dog to watch the beef – and let the two alone.

    If the meat is gone once you come back – who is to blame – you or the dog – honestly?

    However, taking the powers away will be much more difficult than the opposite….

  3. Fair enough guys. I don’t disagree. I’d still watch guys in black with G3s abseiling into 1 Canada Square if it were on pay-per-view though…