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We should believe in Rating Companies?

Yesterday i have seen one very interesting documentary called "Inside Jobs" (winner oscars 2011) this documentary told us the origin of the crisis.
During the documentary we see that the rating companies are much less than we think.
At the beginning of the fall of the banks rating companies continue to rank these banks with a maximum rating and when they were forced to explain what happened only justified as being "their opinions".

We are not to be influenced by companies whose interests are more important ?

  • Jun 21 2013: Rating Companies are really just Co-ops. Banking Co-ops. Wall Street Co-ops.
    Good ole boy Clubs, sucking the teat of their customer-owners. Nothing more.

    Plutarch, in writing, "On Morals," two thousand years ago, described market
    bubbles in the near-ancient world and how the lending industry came to
    periodically bankrupt (bank corrupt)* nearly everyone in order to create
    exorbitant wealth for themselves, simply as result of their own avarice and
    greed. He was writing on why no one should allow themselves to get into debt
    through borrowing, but to live threadbare if need be, and to sell what your
    have and live roughly, rather than see a money lender. People have always
    sought to live beyond their means. And sooner or later, many are found that
    they do not have sufficient funds to pay the piper.
    ===
    Today's Headline ---

    As Worries Ebb, Small Investors Propel Markets

    Millions of people all but abandoned the market after the 2008 financial
    crisis, but now individual investors are pouring more money than they have
    in years into stock mutual funds. The flood, prompted by fading economic
    threats and better news on housing and jobs.....
    ===
    What we tend to forget --

    The people who abandoned the market were broke !!!
    *periodically bankrupt (bank corrupt)....

    The new Small Investors are different people...
    We call them Fodder. (aka: new cannon fodder)

    Wall Street Mafioso's will reap them too.
  • Jun 18 2013: A summary of opinions and evidence we can see that the rating companies are essential "allieds" of financial institutions causing people to invest their money.
    Do you not agree ?
  • Jun 18 2013: Ratings are based on nothing tangible, all they are is perceived risk in the market. The biggest example I can think of is how the US lost a little bit of it its rating during the economic slump, going from a AAA rating to a AA or something, the funny thing is it wasn't even during the main economic slow down it was about 5 months after 'rock bottom' and there was little improvement.
  • Jun 18 2013: The investment rating companies are paid by the banks, not the investors.

    IMO, the rating companies are extensions of the banks, protecting the interests of the banks.

    Buyer beware.