Bloomberg Businessweek: Are Rating Firms Getting a Free Pass?
November 23, 2011
Rapid Ratings CEO James Gellert suggests that Washington require rating agencies to affirm or adjust their ratings quarterly, discouraging the Big 3’s propensity for sticky ratings most recently seen in ratings of MF Global. As quoted by reporter Roben Farzad, “‘Where is the outrage?’ asks James H. Gellert, chief executive officer of Rapid Ratings, which had rated MF Global at junk for two years. ‘Things have gotten absurd.’”