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<p>[QUOTE="rush2112, post: 1240554, member: 25570"]I did a search on Wikipedia several days ago to find out if who Moody's is and I found this:</p><p><br /></p><p>Moody's has been accused of "blackmail". In one example the German insurer <a href="http://www.cointalk.com/wiki/Hannover_Re" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Hannover_Re">Hannover Re</a> was offered a "free rating" by Moody's. The insurer refused. Moody's continued with the "free ratings", but over time lowered its rating of the company. Still refusing Moody's services, Moody's lowered Hannover's debt to junk, and the company in a few hours lost $175 million in market value.</p><p><br /></p><p>This information should tell you why China has no respect for Moody's opinion.[/QUOTE]</p><p><br /></p>
[QUOTE="rush2112, post: 1240554, member: 25570"]I did a search on Wikipedia several days ago to find out if who Moody's is and I found this: Moody's has been accused of "blackmail". In one example the German insurer [URL="http://www.cointalk.com/wiki/Hannover_Re"]Hannover Re[/URL] was offered a "free rating" by Moody's. The insurer refused. Moody's continued with the "free ratings", but over time lowered its rating of the company. Still refusing Moody's services, Moody's lowered Hannover's debt to junk, and the company in a few hours lost $175 million in market value. This information should tell you why China has no respect for Moody's opinion.[/QUOTE]
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