Pimco's Gross: Ratings Agencies Lack Common Sense

Filed under: Financial Crisis

One of the world's premiere bond fund managers is recommending that investors view credit ratings issued by ratings agencies with a critical and skeptical eye.



Pimco's Bill Gross, in a commentary published on Pimco's website, said ratings agencies are necessary, but their services are overpriced and their evaluations are subject to the influence of the issuer, "which in turn muddles their minds and clouds their judgment to say the least."

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Pimco's Gross: Ratings Agencies Lack Common Sense originally appeared on BloggingStocks on Wed, 05 May 2010 17:40:00 EST. Please see our terms for use of feeds.

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