Recent evidence from the subprime fiasco proves - without a shadow of a doubt - that the "opinions" of ratings agencies are practically worthless at best, and maliciously misleading at worst. Ratings agencies are poisoned by greed, corruption, and conflict of interest. Their ratings are only worth following to the extent that the masses adjust their investment behavior accordingly, and to the extent that these agencies then become shapers of investment trends.
As soon as investors no longer pay attention to the contaminated ratings, these agencies will then become utterly worthless. Let that time be now. Analyze the financial data yourself and make your own informed decisions when investing. Nobody else has your best interests at heart - especially when money gets involved. You'd better believe that.
Rating Subprime Investment Grade Made `Joke' of Credit Experts