tag:blogger.com,1999:blog-4073991368963140015.post2341591594028905201..comments2023-11-05T12:18:27.222+00:00Comments on Labour And Capital: Two completely unrelated thingsTom Powdrillhttp://www.blogger.com/profile/05511483398745094803noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4073991368963140015.post-15691212376446679442008-07-12T10:42:00.000+00:002008-07-12T10:42:00.000+00:00Do you think there ought to be reform here then? I...Do you think there ought to be reform here then? I have heard some argue, for instance, that shareholders should employ their own auditors (I know they techinally appoint auditors at AGMs, but the idea I think is to employ a shadow firm).<BR/><BR/>Not sure how you could work somethig similar in the credit ratings world.Tom Powdrillhttps://www.blogger.com/profile/05511483398745094803noreply@blogger.comtag:blogger.com,1999:blog-4073991368963140015.post-49375738065931295512008-07-11T21:52:00.000+00:002008-07-11T21:52:00.000+00:00Credit ratings are a murky area. But although, lik...Credit ratings are a murky area. But although, like auditors, they have an interest in skating around minor problems to suit clients, their credibility relies on ensuring that the bigger issues are caught. That's partly why they've taken such a kicking over the credit crunch - and partly why they're likely to utterly f*** companies carrying complex financial instruments as a result of fair value accounting. Mark-to-market of nominally value-less assets is much too big to fudge, so expect even more bad blood between agencies and clients...Richard Younghttps://www.blogger.com/profile/17213066768738392277noreply@blogger.com