The rating companies actions are protected by free speach????? All agents use the information published by these rating agencies about the insurance companies ratings when presenting a quote to a client. The insurance companies bragg to the agents when their ratings improve as stated by the agencies. These rating agencies need to be held accountable. Had the agencies been doing their job with the credit default swaps we possibly could have avoided the mess were in.
I am with you; investors relied on the ratings so they didn’t have to research those securities to decide if they were golden or just junk. And folks earned large commissions based on those sales. I know it is caveat emptor but if the decision to buy or not depends on the “expert” opinion of someone the industry relies on, then they should be held accountable when they encourage investing in swampland and the brooklyn bridge, no?
The rating companies actions are protected by free speach????? All agents use the information published by these rating agencies about the insurance companies ratings when presenting a quote to a client. The insurance companies bragg to the agents when their ratings improve as stated by the agencies. These rating agencies need to be held accountable. Had the agencies been doing their job with the credit default swaps we possibly could have avoided the mess were in.
I am with you; investors relied on the ratings so they didn’t have to research those securities to decide if they were golden or just junk. And folks earned large commissions based on those sales. I know it is caveat emptor but if the decision to buy or not depends on the “expert” opinion of someone the industry relies on, then they should be held accountable when they encourage investing in swampland and the brooklyn bridge, no?