We need a debt rating service rating service

Very meta. Who rates the rating services?

I saw this in the Wall Street Journal, an article today called Stocks Wind Down a Brutal May:
"Trading was especially volatile in the afternoon after Fitch Ratings lowered its rating on Spain's debt to AA+ from AAA, but said the country's outlook is stable. The downgrade came despite this week's passage of austerity measures by the Spanish governmentโ€”a move that bulls had hoped would help the country avoid struggles similar to those of Greece." (from The Wall Street Journal)
And I thought, who is this Fitch Ratings Service, and can we trust them? Hmm. Who can I ask? I need a Dept Rating Service Rating Service.




Posted on May 28, 2010 and filed under Life, Politics.