Unbelievable that it took them so long, considering how powerful, corrupt and politically orchestrated these companies are.  If americans had had an alternative to S&P we probably wouldn’t be in the shape we’re in today.  That europe will use its agency as a tool of its own predatory elites in the same way is probably a given.  But sometimes battling elites are preferable to a unified cartel.

“The proposed model is of an agency where the service is paid by the clients, who have an interest in having reliable and objective results”

Well duh.

http://www.reuters.com/article/2012/01/21/us-berger-ratingagency-idUSTRE80K0GL20120121?feedType=RSS&feedName=businessNews&utm_source=dlvr.it&utm_medium=twitter&dlvrit=56943

By the way, have you heard that the ratings agencies executives are under indictment?  Me neither.