A MATTER OF THEIR OPINION

摘要

There were many people to blame for the credit crunch. Greedy bankers, lax regulators and irresponsible consumers have all had their turn in the spotlight of public condemnation. However, two years on, as the dust settles and the world copes with the consequences of these widespread and profound failures, a more detailed picture is emerging.rnThe Turner Review in the UK, the Securities and Exchange Commission (SEC) in the US, and the EU Parliament have all called into question the role played by credit rating agencies in the credit crunch. The broader business community knows little about these agencies, still less does the general public. And yet, according to some analyses, they provide the foundation on which our entire system of capital allocation is based.