Rating agencies – Finance for everyone

In every financial crisis, rating agencies are singled out. How could they be responsible for the crises? Are they the cause or just an indicator of problems?

During the Asian financial crisis and in the case of Argentina in 1997, or even during the Internet bubble and the bankruptcy of ENRON in 2001, she underestimated the risks of default until the last moment.

In 2004-2007, they overvalued financial products that turned out to be toxic.

During the Eurozone crisis, they would bring Greece to the brink of bankruptcy and worsen the financial crisis with their decisions to lower the rating of the public debt Greece, then Portugal and Spain.

Too simple a trial for ideal scapegoats? Or the real culprits?

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