Thursday, March 22, 2012

Pressure to bend the rules?

EU watchdog tells ratings agencies to make changes

"The rating agencies were blamed by policymakers for helping to sow the seeds of the financial crisis by giving high ratings to mortgage-backed securities linked to U.S. home loans that defaulted"."The EU is now approving its third set of rules in as many years for rating agencies". (Yes, but will it stop idiots borrowing beyond their means?)

Posted by alan @ 08:26 PM (1301 views)
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One thought on “Pressure to bend the rules?

  • It’s everyone elses fault except the EUs, denial is always the worst phase.

    The Kübler-Ross model:-

    The stages, popularly known by the acronym DABDA, include:

    Denial — “I feel fine.”; “This can’t be happening, not to me.”

    Anger — “Why me? It’s not fair!”; “How can this happen to me?”; ‘”Who is to blame?”

    Bargaining — “I’ll do anything for a few more years.”; “I will give my life savings if…”

    Depression — “I’m so sad, why bother with anything?”;

    Acceptance — “It’s going to be okay.”; “I can’t fight it, I may as well prepare for it.”

    Directly applicable to the Euro.

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