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Economy
In reply to the discussion: STOCK MARKET WATCH - Tuesday, 19 June 2012 [View all]Roland99
(53,342 posts)30. Europe Launches Ban On All Policy Criticism By Scrapping Use Of Rating Agencies
http://www.zerohedge.com/news/europe-launches-ban-all-policy-criticism-scrapping-use-rating-agencies
Uhhhhh.......
Why are we not surprised? The EU has just voted to scrap the use of ratings agencies in the next step on the road to a ban of all policy criticism. Via Bloomberg,
It seems just a few years ago, when these very same ratings agencies were raising ratings and supporting banking systems, mortgage provision, and sovereign-inclusions-into-monetary-unions, that the political elite could not showing off their bronzed statues of AAA/AA-ness.
And in the most bizarre of twists, they would prefer if they were allowed to rate themselves:
In other words:
We only wish we could put this in haiku format.
EU LAWMAKERS APPROVE AMENDMENT TO END USE OF CREDIT RATINGS
It seems just a few years ago, when these very same ratings agencies were raising ratings and supporting banking systems, mortgage provision, and sovereign-inclusions-into-monetary-unions, that the political elite could not showing off their bronzed statues of AAA/AA-ness.
And in the most bizarre of twists, they would prefer if they were allowed to rate themselves:
LAWMAKERS CALL FOR EU TO ISSUE SOVEREIGN CREDIT RATINGS
In other words:
I am Herman van Gollum, and I give Spain AAA+++. I would do business with this customer any time.
We only wish we could put this in haiku format.
Uhhhhh.......
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Hang on, let me check... Yup, word/concept still in dictionary. So why does nobody want to use it?
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Jun 2012
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