This might be stupid - but why are these credit ratings agencies allowed to exist in a comparatively free market? Surely a function like the one they provide is better handled by a Not-For-Profit governmental body?
Without this - or incredibly tightly policed regulation of the existing private agencies, I don't see how an outcome like the one described here isn't mathematically guaranteed?
Without this - or incredibly tightly policed regulation of the existing private agencies, I don't see how an outcome like the one described here isn't mathematically guaranteed?