I was just going to say, blue must be the moon today. Of course, he diagnoses correctly the COI issues, but while he alludes to the oligopoly problem, he doesn’t quite recognize it as also having a key role in the overall reason why the ratings agencies cause more harm than good.
Krugman: Amid all the Goldman Sachs talk, don’t forget to blame the ratings agencies! http://nyti.ms/9ZKG1b
This is actually the first rational column Krugman has written in a looooong time.
I was just going to say, blue must be the moon today. Of course, he diagnoses correctly the COI issues, but while he alludes to the oligopoly problem, he doesn’t quite recognize it as also having a key role in the overall reason why the ratings agencies cause more harm than good.