Senator Sanders calls for the ratings agencies to be nonprofit

piezoe said:
I think if you back and read my prior post it will be clear to you where the source of funding for a non-profit rating agency lies. [see post#16, this same thread.] There would be little difficulty funding such an agency at miniscule cost relative to the size of the bond market.
More...
And keep in mind the Gates Foundation has a somewhat ambitious goal of eliminating a number of diseases from the face of the earth, which is where the "a-priory" chunk of capital is going, not to paying market salary to attract high quality individuals. There is a world of difference between the money needed to try to do something that ambitious and the amount needed to put together a well run non-profit credit rating agency. Hopefully gkishot recognizes that.
 
piezoe said:
I think if you go back and read my prior post it will be clear to you where the source of funding for a non-profit rating agency lies. [see post#16, this same thread.] There would be little difficulty funding such an agency at minuscule cost relative to the size of the bond market.
More...
So why hadn't the gov created such an agency so far? There is no special legislation needed for doing that.
 
gkishot said:
So why hadn't the gov created such an agency so far? There is no special legislation needed for doing that.
More...
That's kind of like asking why was there no uber before uber, or twitter before twitter. Because no one had the combination of vision and willingness to invest the effort to make it happen. Sadly this is probably one of the few realistic ideas proposed by the guy who seems to have both those things on this idea, so we can only hope it survives being proposed by Sanders and gets picked up by someone else who can make it happen.
 
Sig said:
That's kind of like asking why was there no uber before uber, or twitter before twitter. Because no one had the combination of vision and willingness to invest the effort to make it happen. Sadly this is probably one of the few realistic ideas proposed by the guy who seems to have both those things on this idea, so we can only hope it survives being proposed by Sanders and gets picked up by someone else who can make it happen.
More...
The rating agencies are there for some time already. This is not a new idea. He could have created a non-profit rating agency himself. But he is making it a political issue, and that's something else.
 
You must log in or register to reply here.
Back
Top