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Moody and Fitch rating agencies

  • 25-07-2012 2:50am
    #1
    dd972
    Closed Accounts Posts: 2,563 ✭✭✭


    Read this evening there was speculation about Germany having their Triple A rating downgraded

    Why do the media suck the balls of these rating agencies, weren't they the same folk doling out Triple A status left right and centre pre 2008?


Comments

  • #2
    Senna
    Registered Users, Registered Users 2 Posts: 8,800 ✭✭✭Senna


    The markets/investors listen to them, the media reporting of it wont have any effect on the people who use the information.


  • #3
    im invisible
    Closed Accounts Posts: 4,372 ✭✭✭im invisible


    What are the ratings anyway? Triple A, double A, A, A minus, triple B...

    Why not A, B, C, D, E,,,


  • #4
    Cookie_Monster
    Registered Users, Registered Users 2 Posts: 24,523 ✭✭✭✭Cookie_Monster


    It's a pretty good scam they have going, some random private company that like to think it can tell you what everything is worth...

    Until they downgrade the US rather than continually pander to it and artificially maintain it's gold plated rating anything they say should be regarded as only for their own net gain IMO


  • #5
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,101 Mod ✭✭✭✭AlmightyCushion


    im invisible wrote: »
    What are the ratings anyway? Triple A, double A, A, A minus, triple B...

    Why not A, B, C, D, E,,,

    They should use smileys instead of letters.

    :cool:, ;), :D, :), :o, :(, :mad:, :eek:


  • #6
    Jesus Wept
    Registered Users, Registered Users 2 Posts: 25,243 ✭✭✭✭Jesus Wept


    im invisible wrote: »
    What are the ratings anyway? Triple A, double A, A, A minus, triple B...

    Why not A, B, C, D, E,,,

    It's like the opposite of tits.


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  • #7
    Lyaiera
    Registered Users, Registered Users 2 Posts: 5,818 ✭✭✭Lyaiera


    Andy Carroll wrote: »
    It's like the opposite of tits.

    Have you been watching Total Recall?


  • #8
    entropi
    Registered Users, Registered Users 2 Posts: 21,730 ✭✭✭✭entropi


    But why should some random companies be basically given some sort of power over global economies? Are they not mostly made up of economists and stock & trend analysts?

    Why governments listen to them, I'll never know.


  • #9
    razorblunt
    Registered Users, Registered Users 2 Posts: 17,300 ✭✭✭✭razorblunt


    Investors listen to them because they have to, sadly, as dictated by client mandates in a lot casesm this in turn gives them a lot more power.


  • #10
    Franticfrank
    Registered Users Posts: 260 ✭✭Franticfrank


    Its really amazing. They just dole out negativity constantly...maybe if they were abolished, the markets might have some chance. And if they're not careful, someone might drive a truckbomb into their headquarters.


  • #11
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 92,624 Mod ✭✭✭✭Capt'n Midnight


    dd972 wrote: »
    Read this evening there was speculation about Germany having their Triple A rating downgraded

    Why do the media suck the balls of these rating agencies, weren't they the same folk doling out Triple A status left right and centre pre 2008?
    First Rule - follow the money

    who pays these agencies ?

    who are their shareholders ?

    would you be surprised that it's the same speculators who make fortunes on the slight changes in interest rates caused by scaremongering ?


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  • #12
    Big Nasty
    Registered Users, Registered Users 2 Posts: 22,080 ✭✭✭✭Big Nasty


    Moody & Fitch - don't they make leisure wear?

    And as for Triple A - isn't that some sort of cattle feed?


  • #13
    robp
    Banned (with Prison Access) Posts: 1,934 ✭✭✭robp


    Cookie_Monster wrote: »
    It's a pretty good scam they have going, some random private company that like to think it can tell you what everything is worth...

    Until they downgrade the US rather than continually pander to it and artificially maintain it's gold plated rating anything they say should be regarded as only for their own net gain IMO

    Well their rival did exactly that. They weren't very popular after that.
    S&P downgrades the U.S. debt rating


  • #14
    Playboy
    Registered Users, Registered Users 2 Posts: 2,923 ✭✭✭Playboy


    Unfortunately they provide an essential service. They encourage investment as investors will trust them and then invest their capital! If they don't tell it like they see it then they will lose credibility or get accused of manipulating the markets.

    We all complained about the way they had rated the sub prime mortgage securities as triple AAA when they were anything but. We can hardly complain now if they are being more rigorous in their ratings!

    And they have to be private... no way could you let them be a government body. Too much chance of political influence from Governments if things arent going their way... Think of the headlines "American Government rating agency strips Chinese banks of their triple AAA ratings"


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