S&P & Moody's have had a semi monopoly for decades

Jim Rogers : whether it is (The rating agencies ) European or not the fact is that you need somebody that is competent somebody who could examine and decide who is solvent and who is not solvent you know it is only a few months ago that they had the United States as a triple A credit , The United States is the largest debtor nation in the history of the world it is absurd that it was triple A you just need somebody who is competent who can go in there it does not matter whether it is Russian or Australian American or European just so you have somebody competent and these guys S&P and Moody's have had a semi monopoly for decades they have gotten corroded and lazy and sloppy and they're no longer competent ....- in Russia Today interview 16 Jan 2012





Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.