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Posted using TxtLJ - Lograh — LiveJournal

Wednesday, 19.Nov.2008

6:06 - Posted using TxtLJ

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I never knew the credit ratings agencies were protected by the first amendment.


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[User Picture]
Date:18:21 19.Nov.2008 (UTC)
well, I'm referring to the ratings agencies such as Moodys. The types that give their AAA or AA- ratings to things like mortgage backed securities. Those ratings are considered to be just like an editorial in a paper, and they are allowed to say whatever they want with no requirements that they do research or whatnot.


(those agencies which rate you and me, like your credit score of 750 or whatever, I don't know about. they may also be considered an editorial or they may have some regulation involved.)
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[User Picture]
Date:0:18 21.Nov.2008 (UTC)
Actually all corporations enjoy 1st Amendment privileges, as well as every other right an individual does (court granted a long time back; my memory fails me as to when). The problem is that while they enjoy the same rights they share none of the responsibilities.

You might even say one of the worst decisions ever was to grant them the rights of an American without holding them accountable as one. It's just one of those things that contribute to making the world a shittier place to live :D
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