Moody's planning a downgrade of big banks and they react

[PlanMaestro]

Moody's Hears It From Banks

http://online.wsj.com/article/SB10001424052702303978104577362282853365276.html

 

The rating agencies are a gift for value investors and a menace to the world.

[Uccmal]

Nothing like shutting the barn door years after the horses escaped, eh?

 

I guess AA is the new triple A, A is the new double A, and so on.  Kind of like revaluing a currency.

[Kraven]

  On 4/26/2012 at 1:23 PM, zgrendi said:

Does anyone actually listen to these guys?

 

Unfortunately yes.  It's really sad actually.  The rating agencies used to perform valuable services and were an asset to the investing world.  As with many things, the lure of easy money became too much to overcome.  While in some respects they still do perform valuable services, their reputation has been tainted to such a degree that I don't believe they can ever actually get back what they once had.