Ten years on from the financial crash and the ratings-agencies
conundrum has still not been resolved
Ten years ago the investment world held its breath as Lehman
Brothers collapsed. Today we have still not fully escaped the
consequences. And there are doubts about whether bank regulation
would stand up to another crisis on the same scale.
Arturo Cifuentes, who some of you may remember was an expert
witness at the US Senate subprime hearings and is now an adjunct
professor at Columbia University, argues that at least we have
tried with bank regulation. Other actors, in contrast, have
continued without sanction.
Writing in the Financial Times, he says, in particular, the
ratings agencies are every bit as powerful today as they were
then.
