The Shady Truth Behind The Aramco IPO

One thing that professional bank and fund traders know that others may not is to absolutely never trust the credit rating agencies in making trading decisions. The reason for this is simple: the credit rating agencies are paid to give a rating on the creditworthiness of the very company that is paying them for that rating. This cozy arrangement – and the agencies give ratings to countries, companies, and asset issues – was a principal reason why the U.S.’s own Financial Crisis Inquiry Commission (FCIC) set up by Congress and the…