September 18th, 2008, 11:31 am
QuoteMight be better to stop the rating agencies threatening to downgrade based on share price. While the rating agencies share responsibilities for the credit market problem before it became apparent, and now the timing of downgrade are indeed questionable,preventing them from issuing the downgrades would not help. You know a lot of people are still relying on their work (until we find a better alternative).It is a very complex situation, I guess we have to ride this out. I dont think if anybody, FED, treasury, and the smartest people alike, knows how to fix the current problemexcept trial and error.I dont know if it is the right thing to disclose the shorts. What is the downside? Would it promote better transparency?