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