August 17, 2007

The regulator’s human folly

Sir, Sir Samuel Brittan clearly knows his way around the humans when in “The crooked path of capitalism”, August 17, he says “experts are never as likely to be wrong as when they speak with near unanimity”. I suppose he would agree then that it is has been a human folly of monumental proportions that regulators have forced the financial markets in so many ways or forms to have to heed the criteria of the credit rating agencies.