Courage & Ethics

Dear Readers,

I was surprised this monday by the warning of S&P on the american debt. Not surprised by the amount itself, it’s public (the part we know), but more by the courage of the notation agency, because we can imagine the pressure they had when it was “time for decision”.

What does it means : situation is so bad for US debt, with direct impact on economy, that now nobody can stay blind ? Honest, it’s not the real subject. Subject is more “somebody was courageous enough to make the announcement. Is it better for S&P for their future business & credibility, as opposed to others agencies that stay blind on the subject ? Wait & See, no crystal globe available this morning

Situation is strange, because the American government “forgot” to include those agencies for their responsabilities in the 2008 financial crash, even if we all know they had their part of responsability, by selling good notes to poor bank’s products.

I will put this in parallel with marketing agencies in software, and make the difference between those who still stay blind to Open Source Bi (and especially Vanilla), and those who start talking about the wave (like Forrester) : never forget some of those agencies, in software or finance, are only marketing companies that sell “analysis” based on the money they get for the study from editors. Be cautious and make your own study, it will sometimes save you a lot of money, and also save you the feeling of having been screwed by somebody you trusted …

Have Fun !

Patrick

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