The rating agencies have proven that the are willing to sell their soul for the almighty dollar

Reader comment on: Europe and the Ratings Agencies

Submitted by Lyle (United States), Apr 30, 2010 09:35

They sold their soul to the dollar and now should not be trusted any futher than they can be thrown. Given that most ratings are on fixed income and the ante for playing that game is $1,000,000, perhaps they should be removed from the regulations so that no one is required to rely on them. Then the mutal funds will have to spend more to buy ratings from an agency that is only on the customer side (or do the research themselves).

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