Summary of The 3 Agencies with the Power to Make or Break Economies
How would you rate the credit rating agencies? Annette Heuser gives them a low grade and offers an alternative.
Though their methods and integrity are dubious, the “big three” credit rating agencies wield abundant power. Bertelsmann Foundation executive director Annette Heuser portends that this is about to change. In this insightful lecture, she describes the flaws in the current system and presents INCRA [International Nonprofit Credit Rating Agency], an organization with the potential to challenge the current ratings players. getAbstract considers this oration particularly timely, as recent incidents place the rating agency oligopoly under international scrutiny.
In this summary, you will learn
- How sovereign ratings affect every citizen
- What weaknesses are inherent in the current credit rating system
- How the introduction of a nonprofit rating organization could challenge the status quo and improve the system
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