A decade after the triple-A failures of the subprime era, grade
inflation is back on Wall Street.
This time, Moody’s Investors Service and S&P Global Ratings Inc. are
cutting companies slack on mergers and acquisitions, an analysis of
There can be no doubt that this development puts investors at risk. If
investors cannot depend on objective ratings then, when the next
financial crisis hits, so-called blue chips could end up destroying
wealth instead of preserving its. It is important to remember that,
unlike paper investments of all types, gold investments are not
dependent on anyone's promises...