And here is a firm, still Standard and Poor’s, whose criteria of appreciation are marked by subjectivity, as is the case for every human endeavor, one whose methodologies are not only vague, but opaque and, from the little we know of them, stamped with the seal of a singular amateurism. For, if we believe what we read in Le Monde (15-16 January), this withdrawal of France’s triple-A rating was the work of a German analyst who, seconded by a Slovene assistant, spent “a few months” gathering “public data”, blending them with the results of “some interviews” with “ministers, members of the opposition, and bankers”, and then, finally, being “bombarded with questions” during a “visioconference” by a group of “five to fifteen people”, none of whom were particularly familiar with the dossier.
— BHL has a point about finance - and S&P. Vive la France!
