Let's pause in the words. - page 3
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but for the sake of 35-40% a year, that's fine.... or how....
Did you not get the humour? The question was about the guarantee, not the banks' paid-for draw ratings.
A bank's rating is a guarantee of the bank.
Regarding the "paid-for" - the international rating agencyMoody's, for example,has been around since 1909. For over 100 years this agency's ratings of commercial banks have not been wrong OR ERRORED VERY RARELY. This agency is worth billions of dollars with no tangible assets - it's all the price of reputation and reliability of ratings
20-30%
A bank's rating is a guarantee of the bank.
Regarding the "paid-for" - the international rating agencyMoody's, for example,has been around since 1909. For more than 100 years this agency's ratings of commercial banks have not been wrong. This agency is worth billions of dollars with no tangible assets - it's all the price of reputation and reliability of ratings
You seem to be such an adult, but still believe in fairy tales about "100 years of reputation"?
To explain it simply, all of the crises of the last 100 years, including the Great Depression, were banking crises. Take 2008 for example. The banks with high fake ratings burst like bubbles. And what about the rating agencies? The excuse they gave was that they were not responsible for the bazaar and that it was water off the duck's back.
To explain it simply, all the crises of the last 100 years, including the Great Depression, were banking crises. Take 2008 for example. Banks with high drawn ratings burst like bubbles. And what about the rating agencies? The excuse they gave was that they were not responsible for the bazaar and that it was water off the duck's back.
Like what?
There's not enough fingers to go around. The most trivial example is Lehman Brothers Bank, which started the bubble burst and which, incidentally, also survived the Great Depression.
Lehman - I wrote it myself. What else?
Rating agencies are not gods. And they make mistakes. There is one bank. Which one?
Lehman - I wrote it myself. What else?
Rating agencies are not gods. And they make mistakes. There is one bank. What other one?
Have you been google-banned? It's not like it's a secret.
The point is that the rating agencies are bullshit.
A donkey - definitely not, I think there are no donkeys here, you don't consider yourself a donkey I hope, but for 35-40% a year, that's fine.... or like....
Sharing the pelt of an unkilled bear?