Given that banks are in the business of perpetuating their existence, what are the chances that bank ratings will tell us anything about where the capitalist economy is headed? Our answer is about that they give us as as great a chance as the twists and gyrations of the stock market tell us. While these ratings are manipulated for political/nationalistic purposes, the decline of AAA ratings does tell us real things about the increasing instability of finance capital.
Read in Liberty Street Economics
