To S. Thomson, York, UK: French holders of defaulted Russian bonds (present estimate value 90 billion $) have consistently informed all rating agencies of the existence of these unpaid debts (the validity of which is unanimously recognised except by the debtor); yet the agencies persist in giving Russian sovereign debt an "Investment Grade" rating where as it quite obviously should be "Selective Default". The same goes for China and pre-1949 Chinese bonds (see recent class action of Florida bondholders vs. rating agencies). So please do not say agencies act upon available knowledge. That is simply not true.

To Steve, London, UK.: Two wrongs do not make a right. It would be good for the EU to publish accounts. But we are not talking about rating the EU. We need the rating agencies to stop acting according to their hidden vested interests.

Karolus, Dartmouth,

We have been witnessing global greed and fleeecing the poor. The reference agencies are not at fault they produce information based on the available knowledge, it the use that this information is put to that is the problem. Sales driving the business without sound prudent financial management. None as blind as those who will not see.

S Thomson, York, UK

It is a shame that the credit rating agencies are being targeted. They provide an element of the information used by in the main professional investors. Ultimately whether you invest or not should not be based purely on a rating given the fact that no guarantees are given by the rating agency if the fund failed. You should instead be looking at the people who made the decision to invest (as well as a drive for fees, etc) as the problem lies there.

Manoj B Patel, Douglas, Isle of Man