Borrowing puts UK's AAA rating in danger after Budget 2009

[ThomasSoerensen]

and why they are still in business and not charged for their incompetence

Because the people who could charge them (banks, government) agree with their business practises. It fits well into the plan.

[Menelaus]

Are Moodys and Standard&Poors the experts who told the banks that US subprime mortgage funds were AAA grade solid gold investments?

Yes.

I was part of the SIFMA / ESF / IOSCO review into the ratings agencies and we called for their regulation but (quelle surprise) government appears to have decided that ratings agencies should remain in their current market position and everyone else(!) will be exhorted to perform enhanced due diligence (i.e., not just rely on the ratings provided).

[BrilloPad]

It must be true http://www.thedailymash.co.uk/politi...-200904231723/