Rating agencies: an information privilege whose time has passed
Nicolas Véron argues rating agencies have failed the marketplace in the run-up to the crisis, as their risk assessment processes have been found wanting on a number of counts. It is not clear that conflicts of interests have been the root cause of this serious failure, even if such conflicts may have existed. More regulation of rating agencies will not be a sufficient response to the challenge posed by the agencies recent failings, and carries risks of its own. What is needed is a deeper change in the structure of the market for financial risk assessment services.
|Date of creation:||Feb 2009|
|Date of revision:|
|Contact details of provider:|| Postal: Rue de la Charité, B-1210 Brussels|
Phone: +32 2 227 4210
Web page: http://www.bruegel.org
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:bre:polcon:235. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruegel)
If references are entirely missing, you can add them using this form.