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Standard&Poors made big mistake

Today, Standard&Poors have discredited France for a while by taking their top rating AAA
and downgrading it to AA. According to Standard&Poors, this was the result of a technical
issue where an automated system did not report proper values for France related to its
actual credit rating. France itself has started investigating in this case also.

Standard & Poors is already taking actions that such a desaster could not repeat again.

I still wonder why they’re experimenting with test data on a public productive sity anyways. That’s what test environments are for. Especially when it deals with such a delicate topic of finance and in a time where the heat is already over the roof where the slightest bad news can upset the whole world economy…

November 10, 2011 Netspark - 1593 posts - Member since: May 9th, 2011 No Comments »

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