Saturday, December 26, 2009
Yves Smith on Rating Agency non-Reform
Yves Smith has an 8 December 2009 post at her Naked Capitalism about rating agency non-Reform which I generally agree with, link: http://www.nakedcapitalism.com/2009/12/non-reform-of-rating-agencies.html. I oppose creating a rating agency PCAOB. If created, it would be as successful at improving ratings as the PCAOB has been at improving the Big 87654's work, i.e., not at all.