Code postale de cote d ivoire si je veux poster une letrre a abidjan
Why is it that most of the time, Africans always tend to emtalue "failed" concepts and ideas from the so-called developed world. Standard & Poors and African indices. Is this something we should be happy about? I am not really sure. This is one of the rating agencies that their reputation and competencies are be scrutinized in the wake of the sub-prime mortgage disaster. They, rating agencies, including S&P have played very dubious roles in connection to the sub-prime mortgage saga. They have acted as consultants in assessing and marketing some of the products: CDO (Collateralized Debt Obligation) one of the major products that have led to what is now known as the sub-prime mortgage crises. At the same time, they have also acted as the ones to rate some of these products. If this is not conflict of interest, then I do not know what is. Further, the claim to fame of these rating agencies, is partly based on their assessment of the rating the chances of default, based on this and some other variables, they accord a rating to a company or it's products. Often times, the adjustments of most companies by these rating agencies happen in hind-sight when the damages have already been done. On a final note, a very crucial assessment that these rating agencies ignore and do not take along in consideration of their rating figures, is the value of investment portfolios at a given time. This is part of what led to the sub-prime mortgage crisis, investors placed excessive confident on the ratings accorded by the rating agencies, without knowing what the value of their portfolios were. By the time the rating agencies, published their rating downgrades of some of the financials and banks, after initial silence, the damage was already a fact. Considering the above, one then wonders if their coming to the continent should be welcomed with jubilation. Except for that the Africans would have learnt from the gaps of these agencies and place them under serious scrutiny.Thanks.Baba
