While I’m on the topic of ratings agencies, I need to get this off my chest. I hate it when I read from the Financial Infotainment Industrial Complex that “X markets moved today in response to a ratings downgrade of Y.” Here’s a hint for anyone who follows financial news but who has never worked
I founded Bankers Anonymous because, as a recovering banker, I believe that the gap between the financial world as I know it and the public discourse about finance is more than just a problem for a family trying to balance their checkbook, or politicians trying to score points over next year’s budget – it is a weakness of our civil society. For reals. It’s also really fun for me.
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