Finance and economics | Rating agencies
Undue credit
Regulation is helping the very firms it is designed to tame
|New York
DAVID EINHORN, a hedge-fund manager, saw the financial crisis coming and made a fortune from it. But not all his predictions have been as prescient. Asked in 2012 about rating agencies, which, unlike him, had failed to discern the impending disaster, Mr Einhorn said, “It’s a matter of time before they all disappear.”
This article appeared in the Finance & economics section of the print edition under the headline "Undue credit"
From the May 30th 2015 edition
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