Is Moody's a criminal enterprise or just plain ignorant?Quicklink submitted By Scott Baker Permalink
Become a Fan
"I've written about Moody's before. You may know Moody's as one of the "Big Three" credit rating agencies that gave high grades to worthless securities, and helped start the Great Recession. You also may know standard practice for rating agencies is to be paid by the businesses they rate, a clear conflict of interest and an open invitation to criminality."
Ratings of monetarily sovereign and non-sovereign countries don't square with their indebtedness. Japan has the highest debt-to-GDP rating and North Korea has no external debt at all. Where would you rather live?