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Reduce the power of Credit Rating Agencies

Submitted on Saturday 6th August 2011

Published on Monday 15th August 2011

Current status: Closed

Closed: Wednesday 15th August 2012

Signatures: 5

Petition Action

Reduce the power of Credit Rating Agencies

Additional Information

Credit Ratings Agencies have a growing hold over the fiscal policies of Governments. Their influence is akin to that of a monopoly and poor decisions (ie giving top rating to mortgage backed securities) leads to dramatic fluctuations in the world's financial markets. Their power needs to be reduced so that Governments can govern in a more stable way. The finance sectors should serve us, the people, not the other way round.


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