Rating Agencies Don't Deserve Government Blessing, Tavakoli Says

With federal lawmakers battling over a deal to give the U.S. government more borrowing authority, major credit rating agencies have lent a sense of urgency to the proceedings by threatening to issue a downgrade, which experts fear could throw financial markets into turmoil and impede the economic recovery.But according to a confidential report obtained by The Huffington Post, one prominent analyst is saying markets should not be so reliant on the pronouncements of these companies, which have repeatedly proven themselves to be poor judges of credit quality.

 

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