Wall Street at War: The Secret Struggle for the Global Economy
Description
Many of the problems that lie at the heart of the current financialcrisis stem from a significant but little-known development thatoccurred in the early 1980s: the credit agencies that flourished inNew York, London and elsewhere acquired a great deal of powerbecause their ratings now reflected investors shifting priorities,and so controlled the ability of corporations to gain access tocapital. The rise of the credit agencies thereby also represented a newmodel of capitalism, quite different from the old model of therisk-taking entrepreneur. To attract investment capital,corporations n...
ISBN(s)
9780745644189
