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He would prefer to see an independent rating system with small ratings companies that are paid by the investors so that the ratings actually serve the people trying to make investment decisions based on them.
But its small ratings have gone from disappointing to really quite good by staying the same in a TV environment in which the audiences are getting smaller".
Some small ratings services have challenged the establishment by having investors -- that is, the people who actually buy securities -- pay for ratings.
One sign of the fragility in the markets was the hit that Jefferies absorbed after a negative report from Egan-Jones, a small ratings agency.
Given the relatively small ratings of cable news in ordinary periods (those ratings often doubled during the postelection weeks), it may seem to commentators that they are talking only to each other.
WALL STREET JOURNAL Egan-Jones Seeks to Bring Case to Federal Court | The small ratings firm Egan-Jones sued the Securities and Exchange Commission to try to bring the agency's case against it before a federal judge, Bloomberg News reports.
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In terms of rating, trunk link roads and secondary roads in average get smaller ratings than other types of roads.
That initiative had been aimed at helping smaller ratings agencies compete in a sector dominated by Standard & Poor's, Moody's and Fitch.
S.& P.'s willingness to give higher ratings makes it look more like the three smaller ratings agencies that work on bonds tied to commercial real estate: Kroll, DBRS and Morningstar.
Instead, it described its findings as having occurred either at one or more of the three large agencies — Moody's Investors Service, Standard & Poor's and Fitch Ratings — or at one or more of the seven smaller ratings firms.
It's traditionally scored smaller ratings than its grown-up rivals too.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com