Senator Sanders calls for the ratings agencies to be nonprofit

Discussion in 'Economics' started by Sotnis, Jan 6, 2016.

  1. Sig

    Sig

    And keep in mind the Gates Foundation has a somewhat ambitious goal of eliminating a number of diseases from the face of the earth, which is where the "a-priory" chunk of capital is going, not to paying market salary to attract high quality individuals. There is a world of difference between the money needed to try to do something that ambitious and the amount needed to put together a well run non-profit credit rating agency. Hopefully gkishot recognizes that.
     
    #41     Jan 11, 2016
  2. gkishot

    gkishot

    So why hadn't the gov created such an agency so far? There is no special legislation needed for doing that.
     
    #42     Jan 11, 2016
  3. Sig

    Sig

    That's kind of like asking why was there no uber before uber, or twitter before twitter. Because no one had the combination of vision and willingness to invest the effort to make it happen. Sadly this is probably one of the few realistic ideas proposed by the guy who seems to have both those things on this idea, so we can only hope it survives being proposed by Sanders and gets picked up by someone else who can make it happen.
     
    #43     Jan 11, 2016
  4. gkishot

    gkishot

    The rating agencies are there for some time already. This is not a new idea. He could have created a non-profit rating agency himself. But he is making it a political issue, and that's something else.
     
    #44     Jan 11, 2016
  5. Banjo

    Banjo