Overrated regulation
Rating agencies have come under fire for their failure to provide investors with a clear rating of market risk. Yet regulators gave their blessing to the agencies' methodologies through the Basel II banking rules. Who's really to blame? By William Rhode
Ever since they were caught on the back foot by the US subprime crisis and forced into a flood of dramatic debt downgrades, the big three rating agencies - Fitch Ratings, Moody's Investors Service and Standard & Poor's (S&P) - have been under attack. Questions over the organisations' methodologies, suggestions of conflicts of interests and accusations of incompetence have seen their share prices
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