Michael is right. They are most certainly not non-profit. Moody's and McGraw-Hill (parent of S&P) are both NYSE listed public companies (MCO and MHP). It is true, that these companies have the impossible job of serving clients whose stated goal is to "maximize" the value of their ratings. But they seem to be in denial over the resulting conflict of interest. And they maintain the ridiculous claim that "transparency" of the rating process is somehow a good thing. -raghu.
On 8/16/07, Michael Perelman <[EMAIL PROTECTED]> wrote: > They do get their income from setting ratings. I just looked at Moody's > which is a > dot.com, I doubt that they are non-profit. > > On Thu, Aug 16, 2007 at 02:44:12PM -0700, Jim Devine wrote: > > To be fair to the ratings agencies, they don't get money directly out > > of setting ratings (I think they're not-for-profit). They aren't > > conpeople as much as they don't want to rock the boat. > > > > On 8/16/07, Michael Perelman <[EMAIL PROTECTED]> wrote: > > > The first quote is ridiculous. The agencies didn't just fail to warn > > > investors, they conned them.
