List of numbers
N°32

Rating agencies

01 December 2007
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Editorial

Independence...

In recent months, the financial world has been rocked by the subprime crisis. Without forgetting the misfortunes of the American working classes who have been thrown into the street, this is an opportunity for Variances to look back at the role of intermediaries who have progressively conquered a central and controversial role in the functioning of the markets: the rating agencies.

When it comes to evaluations (and the difficulties involved in carrying them out), public policies are not necessarily any better off, and INSEE is currently at the heart of a number of storms that are obviously not going to leave us unmoved. Nonetheless, this issue is an opportunity to note that science is making progress.

However, Variances does not sink into gloom, as you will discover the variety of professions in the boiling world of communications. Other good news celebrated in our columns includes the arrival of Dominique Strauss-Kahn at the head of the IMF and the renewed vigour of the Parisian economy.

Last but not least, this issue is an opportunity to salute the latest class of young ENSAE students, and to punctuate our columnist's journey through Asia!

Happy reading and happy holidays,

Frédéric Gilli
Editor-in-Chief


Summary

Les agences de notation Etienne Marot (2000) et Sebastien Cochard (1994)
Les métiers de la communication Catherine Grandcoing (1978)