We Hate Those Evil American Rating Agencies

But we don’t have the confidence (investor or otherwise) to create one ourselves.

The project to set up a European rating agency to challenge the dominance of American firms is at risk of collapsing, the German business daily Financial Times Deutschland reported on Monday. International consulting firm Roland Berger can’t find enough investors for its plan.

Hey, you-know-what happens. But don’t worry about it, Europe. It’s not like anybody is going to be rating you on this or anything. When in doubt (and you always are), just keep on bitching and moaning instead.

Ihnen wird nicht nur wegen Fehlbewertungen eine Mitschuld an der Finanzkrise gegeben. Auch ihre Rolle bei der Beurteilung der dramatischen Rettungsbemühungen und -konzepte für hochverschuldete Euro-Länder wie Griechenland, Portugal und Irland ist umstritten. Das Urteil der Ratingagenturen prägt letztlich vielfach die Marktreaktionen auf solche Bemühungen.

2 responses

  1. I guess what they don’t want to hear is that the ratings themselves are manned and womaned by the international vagabonds of finance. In other words: a bunch of Europeans.

    The other thing about this is that what they really want is a FAKE ratings agency that will offer them good news when they want it, and prefer Europeans over others. To which I say: go ahead, because it will mislead investors stupid enough to fall for it.

    In summation, remember that teh Chinese tried this too. Even Chinese investors don’t take the contrived Chinese Ratings Agency’s ratings seriously.

  2. When will Roland Berger’s initiated ratings firm publish its first rating?

    Roland Berger Strategy Consultants is close to launching a European ratings firm, the company said Thursday.

    After negotiations with finance institutions, there are now a sufficient number of participants to contribute to the firm, which will be established soon, Roland Berger said.


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