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Is it thanks to their inherent conflicts, to their failure to understand the complex instruments they are rating or, perhaps, to investors' confusion, wilful or otherwise, about what ratings are supposed to reveal?
To that end, investors should understand what ratings on financial products mean.
The SEC, for one, still stipulates what ratings the assets held by money-market funds should have, despite Dodd-Frank's injunction to the contrary.
"All you need to do is look at what ratings share a network has to get today to have a success," he said.
Anyone accustomed to network ratings releases surely would have thought that message was from CBS, which for decades has staked out the claim that amassing the most viewers is what ratings are all about.
The most comprehensive research on what ratings actually measure was conducted by Michael Mount, Steven Scullen, and Maynard Goff and published in the Journal of Applied Psychology in 2000.
Similar(47)
Rob Burnett, one of Mr. Letterman's executive producers, offers the consistent CBS response to Mr. Leno's ratings lead: no matter what the ratings say, Mr. Letterman remains the more original, more worthy talent.
Friday, after delays, controversy and much anticipation, the department released not the ratings themselves, but a broad description of what the ratings will look like, along with an invitation for the public to weigh in on the details.
You'll also want to check and see what their ratings are on Yelp, Facebook, Google Plus, and any other third-party independent ratings agency.
(When it was suggested to Kaufman that he might want to check his Amazon ratings after "Bowl of Cherries" comes out, he said that he wasn't sure what Amazon ratings were).
What are ratings?
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