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ANALYSIS: Time to rate the credit raters

Investors of the world, unite and buy Australian bank debt. Why? Moody's Investors Service suggests you shouldn't. Really, in our post-US-crisis world, is there a better contrarian indicator? Credit raters missed the Asian crisis, Russia's default, the tech-stock crash, Enron, the US housing bubble, Wall Street's collapse and Europe's meltdown. Now we are supposed to care what they think about anything?

Investors of the world, unite and buy Australian bank debt. Why? Moody's Investors Service suggests you shouldn't. Really, in our post-US-crisis world, is there a better contrarian indicator? Credit raters missed the Asian crisis, Russia's default, the tech-stock crash, Enron, the US housing bubble, Wall Street's collapse and Europe's meltdown. Now we are supposed to care what they think about anything?…

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