Marlene’s Moody blues and Simon’s encore

During Tuesday’s parliamentary sitting which discussed the Opposition’s motion asking for Parliament to overrule Mr. Speakers ruling regarding the non-admissibility of Marlene Farrugia;s ‘ad personam’ motion against Keith Schembri, the same Marlene Farrugia intervened to, amongst other, state that Moody’s Credit Ratings Agency is ‘not credible’ due to the fact that it failed to notice the going-ons in Lehman Brothers which led to the financial crisis of 2008.

http://www.wsj.com/articles/what-crisis-big-ratings-firms-stronger-than-ever-1457655084

Well… apart from the fact that no one – including the New York’s Stock Exchange and its Securities Exchange Commission (SEC) and the Federal Reserve Bank and all the international central banks or governments failed to predict what was about to happen, I draw your readers’ attention to a recent article of the Wall Street Journal in which Moody’s and the other constituents of the ‘Top Three’ CRAs are assessed and found to be ‘stronger than ever’:

What is interesting to note is that the ‘Big Three’ control 95% of the ratings market – with Standard and Poor (S&P) and Moody’s controlling each 40% of the market and Fitch a further 15%.

Now, one can only guess that the Honourable Marlene Farrugia may likewise attest that everyone mentioned in this post are not credible…

But my question is this, who would you be ready to trust: An MP who has been shifting to and fro the political spectrum trying to find a place and an audience to which to she can perform and vent out whatever frustrations she may have? A cheering and baiting Leader of the Opposition who yesterday had the gall to not only egg this Honourable Member on but who has amongst his benches MPs who have profited from the Panamagate and IIP programme and who have had more than their share of ‘bad governance’ and ‘stench of corruption’ floating around their person? Or shall you believe the Wall Street Journal?

We’re in for another abusive display of parliamentary democracy this evening… And I am pretty sure that no one from the ‘opposition’ (which, by the way, Marlene Farrugia yesterday acknowledged, finally, of forming part of) shall rectify the grave error made yesterday in respect of yet another reputable institution.

The above is a guest post