Can Credit Rating Agencies Survive?
Jerome Fons on the future of S&P and other agencies.
BY Caroline Cakebread | September 1, 2011
The credit rating agency model is inherently flawed and the downgrade of U.S. debt by S&P merely highlighted this fact. So argued Jerome Fons, executive vice-president, Kroll Bond Rating Agency. I sat down with Fons who was speaking at the 2011 Risk Management Conference in Muskoka, Ontario. I asked him for his thoughts on the US downgrade and his views on the recent departure of S&P chief Deven Sharma, as that organization seeks to address the damage done to its reputation over the summer. Click on the image to watch the video and here what he had to say.