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Thursday, 20 October 2011
Corruption in Europe to Consider Suspending Rating Agency Ratings
Under
one of the most contentious proposals, European regulators would be given powers
to suspend credit ratings of countries undergoing bailouts. I'm ringing the corruption bell high and loud here, this is a distortion of markets and free speech. It's like banning a doctors opinion in his own surgery, leaving the patient to be pumped full of the wrong drug, maybe killing the patient. Does this mean the European union will 100% guarantee bond holders who are unable to gather specific guidance on buying a countries bond issuance, investors would be buying blind, potentially throwing money away. NOT Acceptable.
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