"I don't think there's any real value in ratings today. That's obvious, from the way they rated a lot of the structured products as investment grade.
The agencies have undermined their brand creating a caveat emptor reputation rather than one of trustworthiness."
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.