Moody's and the Telegraph - Despicable Choices.

This is going to be a short one - because I've recently written about fear and how it solves exactly nothing in your organization.

So, stick with me while I rant for just a moment - because we've got a choice of who's more despicable to discuss.

The Situation:

The headline financial news story in the Telegraph newspaper today is "Time is Running Out for the West."

The story is that Moody's, the US ratings agency, says that due to the government borrowing that has occurred during the Great Recession, the AAA ratings of various countries in the West - including the US, UK, France, Germany and Spain - are at a fast-forwarded risk.

The Questions:

Which of those institutions - the Telegraph or Moody's - is the more despicable?  and
Why should we trust what either of them says anyway?

The Thinking:

The Telegraph is fear-mongering to scare up (no pun intended) more readership.  They need the money and they figure fear sells.

Moody's is one of the ratings agencies that was the cause of the "Great Recession."  Had they done their jobs and not given the banks and other financial institutions that were clearly leveraged beyond their means - and just waiting to create a crisis - the much vaunted AAA Ratings, we wouldn't be in this mess now anyway.

The Actions:

  • Do what you need to do but don't create fear in your enterprise.  Focus on solutions.
  • Don't do business with organizations you don't trust.  They don't solve anything and they will, undoubtedly, create problems for you.
  • Any organization or individual that creates fear is not one to be trusted.  Especially when they provide no solutions.  Just fear.
It's a sad, sad day when the sources you're supposed to trust and depend upon are the ones that give you all the reason in the world to distrust them.  Today's news story is both egregious and despicable on all fronts.  The Telegraph and Moody's should both be ashamed.