Financial Standard Comments - USA no longer AAA

Comment by Jim ()

Jim () — Mon, 08 Aug 2011 14:17:52 +1000

Nice work Benjamin. Enjoyed reading this alot.

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Comment by Bill O' ()

Bill O' () — Mon, 08 Aug 2011 14:31:01 +1000

Hi Ben, can you tell me if ratings agencies are licensed? Also I seem to remember senior staff departing because of the smelly activities involved in awarding high ratings to structured products...and some of them set up rival companies. Do you know if they're now operating in that field?

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Comment by BenO ()

BenO () — Mon, 08 Aug 2011 16:36:48 +1000

Bill, credit ratings agencies are regulated in America and Europe but they need a Financial Services license under the Corporations Act to operate in Australia (ASIC requirement).
And yes, I recall them departed staff. I don't know where they are now.

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Comment by Sam Z ()

Sam Z () — Mon, 08 Aug 2011 17:00:42 +1000

Great Benjamin,
I run a small FP firm in Melbourne and was wandering if we can attach your article to our website for general commentary.
I would really appreciate it
Cheers
Sam

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Comment by BenO ()

BenO () — Tue, 09 Aug 2011 10:21:03 +1000

You are welcome to do so Sam as long as you give credit to the Financial Standard.
kind regards,
Benjamin

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