01-17-2022, 09:55 AM
Moody's has downgraded El Salvador Sovereign Debt in the light of their recent Bitco
<!-- SC_OFF --><div class="md"><p>When all these rating agencies are in line to issue OR have already issued their latest ratings to companies/countries/states/etc holding cryptocurrency in their balance sheet, this could be a good time to remind ourselves that these rating agencies have shown their true colours once when they had rated the likes of Lehman Brothers with a stable rating. (That they are capable of conning the common investor with their duplicitous analysis.)</p> <p>Many prominent leaders have commented on this issue- one of them is by former principal deputy associate attorney general Bill Baer, who had to say this about Moody's:</p> <p><em>"Moody's failed to adhere to its own credit rating standards and fell short on its pledge of transparency in the run-up to the Great Recession."</em></p> <p>This is not just true for Moody's but every other analysts would have a price attached to their heads. If you have connections and you sit in an influential position, you could pretty much influence the ratings of a bankrupt company. </p> <p>So a friendly reminder- most of these ratings don't mean shit.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/tanmay1010"> /u/tanmay1010 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/s5iq18/moodys_has_downgraded_el_salvador_sovereign_debt/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/s5iq18/moodys_has_downgraded_el_salvador_sovereign_debt/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>When all these rating agencies are in line to issue OR have already issued their latest ratings to companies/countries/states/etc holding cryptocurrency in their balance sheet, this could be a good time to remind ourselves that these rating agencies have shown their true colours once when they had rated the likes of Lehman Brothers with a stable rating. (That they are capable of conning the common investor with their duplicitous analysis.)</p> <p>Many prominent leaders have commented on this issue- one of them is by former principal deputy associate attorney general Bill Baer, who had to say this about Moody's:</p> <p><em>"Moody's failed to adhere to its own credit rating standards and fell short on its pledge of transparency in the run-up to the Great Recession."</em></p> <p>This is not just true for Moody's but every other analysts would have a price attached to their heads. If you have connections and you sit in an influential position, you could pretty much influence the ratings of a bankrupt company. </p> <p>So a friendly reminder- most of these ratings don't mean shit.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/tanmay1010"> /u/tanmay1010 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/s5iq18/moodys_has_downgraded_el_salvador_sovereign_debt/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/s5iq18/moodys_has_downgraded_el_salvador_sovereign_debt/">[comments]</a></span>Kind Regards R