What are the real objectives of S & P, FITCH and MOODY ? Are they
supposed to be financial rating agencies, or are they something else ? Are they playing at politics ?
Recently, S & P jumped the gun when they announced that France had lost its AAA rating. They withdrew the rating hours later but the harm had already been done !!! Have they paid any compensation or appologized for their "error" ?
Now, just when EU leaders are meeting to make important decisions concerning the EUROZONE, its future organisation and orientation, S & P announce that six Eurozone countries risk losing their AAA rating in the near future !!!
S & P have at present a high reputation, but if they want to anticipate, irresponsibly forecast, the effect of imminent political decisions they are overstepping their remit, the limit of their supposed functions !!!
If S & P get it wrong again, their reputation should be downgraded, but will they pay any penalties or compensation ? POOR advice will hurt those who have to pay !!! Will S & P be obliged to pay any compensation ?
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