re: #429 garhighway

The basic problem is that the real consumers of the information (bond buyers) won’t pay for it. So instead the issuers pay, and there lies the conflict of interest. (I assume that the rating agencies throw in their work on sovereign debt for free, because I don’t think Treasury pays them for it.)

Right, so instead you institute a micro-tax on financial transactions and use the proceeds to fund an independent ratings agency.

TAX! SOCIALISM! AAAARRRRGHGHGHGH!!!