The Ratings Game

The Ratings Game places the subject of rating agencies within the context of the economy at large. There is no doubt that the influence of credit rating companies in financial and capital markets has been growing rapidly. However, the growth in their power has also resulted in allegations of abusive practices and lawsuits in the USA. It is against this background that Fight lays out his account, providing a thorough background and explanation as to what ratings are and what role the agencies have to play. He then explains how the agencies have fitted into, and ultimately come to influence, the economic and political environment. Fight concludes with an examination of how the system could be improved. Using his extensive knowledge, Fight explains why ratings exist and the history and background of the ratings process.