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Dialogue 10/08/07 Flawed credit rating in US

08-07-2010 20:39 BJT

There's a new name in the credit-rating-agency business these days: It's Dagong Global Credit Rating Co. Ltd., and this Beijing-backed business is China''s bid for a spot in the global-credit-rating oligopoly. Although it rates the United States AA and says “the advantages of a comprehensive institutional system will help them gain the rooms for adjusting finance and debt,” it culls out 18 countries for which it assigns ratings lower than those assigned by Moody’s, S&P, and Fitch. Thirteen of these are developed nations that have become “the biggest source of systemic risk and a double dip for the world economy, and the United States is among them. And does the newly passed Wall Street Reform and Consumer Protection Act correct their flaws, or does it make matters worse? It's a question that affects all investors. Today we are joined here live by Charles Liu, Managing Director of Hao Capital and Max Burger-Calderon, Senior Advisor of APAX PARTNERS.

Editor:James |Source: CNTV

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