Project for Philosophical Evaluations of the Economy |
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Wikirating - What an excellent idea!
Observation on an alternative credit-rating solution , drafted and published on Jan. 23, 2012
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Noah denkt™ has long felt that the best way to counterbalance the inadequacies of the credit rating industry is
not to create another opaque, elite agency in Europe but rather to provide for a more public, democratic,
transparent and media-based solution in this field. (See our February 2008 posting: Poor Moody Standards I)
That solution may now have arrived in the form of Wikirating. Wikirating is an internet-based platform which, along
the lines of Wikipedia, invites the general public to share and crystallize its view on the credibility of various
publicly available investment vehicles. Wikirating was founded in 2010 by Dorian Credé (37), an Austrian
entrepreneur, who is based in Zurich, Switzerland. Its site can be accessed at www.wikirating.org.
Noah denkt™ has learned about the existence of Wikirating through an article in the online version of the
German magazine “Der Spiegel”. In other words, we have no personal connection with Mr. Credé or Wikirating
nor do we possess any insight knowledge about the working of the company. We cannot hence voucher for the
honesty and professionalism with which Wikirating is going about its business. What we can say however is that
the general idea of the Wikirating project seems brilliant and self-evident to us.
While we can fully endorse a project that tries to harness the possibilities of online communities we would, at the
same time, like to stress that we continue to believe in the need for a better education of the general public in
financial matters. For that we would, yet again, like to pitch our idea of a publicly funded C-Span-like finance
channel. After all, it is here in the natural access to all kind of unedited, first-hand business news that the true
power of knowledge and perception lies.
Observation on an alternative credit-rating solution , drafted and published on Jan. 23, 2012
----------------------------------------------------------------------------------------------------------------------
Noah denkt™ has long felt that the best way to counterbalance the inadequacies of the credit rating industry is
not to create another opaque, elite agency in Europe but rather to provide for a more public, democratic,
transparent and media-based solution in this field. (See our February 2008 posting: Poor Moody Standards I)
That solution may now have arrived in the form of Wikirating. Wikirating is an internet-based platform which, along
the lines of Wikipedia, invites the general public to share and crystallize its view on the credibility of various
publicly available investment vehicles. Wikirating was founded in 2010 by Dorian Credé (37), an Austrian
entrepreneur, who is based in Zurich, Switzerland. Its site can be accessed at www.wikirating.org.
Noah denkt™ has learned about the existence of Wikirating through an article in the online version of the
German magazine “Der Spiegel”. In other words, we have no personal connection with Mr. Credé or Wikirating
nor do we possess any insight knowledge about the working of the company. We cannot hence voucher for the
honesty and professionalism with which Wikirating is going about its business. What we can say however is that
the general idea of the Wikirating project seems brilliant and self-evident to us.
While we can fully endorse a project that tries to harness the possibilities of online communities we would, at the
same time, like to stress that we continue to believe in the need for a better education of the general public in
financial matters. For that we would, yet again, like to pitch our idea of a publicly funded C-Span-like finance
channel. After all, it is here in the natural access to all kind of unedited, first-hand business news that the true
power of knowledge and perception lies.
| © Landei Selbstverlag, owned by Wilhelm ("Wil") Leonards, Gerolstein, Germany. All rights reserved. Reminder: Noah denkt™ is a project of Wilhelm ("Wil") Leonards and his Landei Selbstverlag (WL & his LSV). Consequently, all rights to the texts that have been published under the Noah denkt™brand name are reserved by WL & his LSV. The commentary and the reasoning that was provided on this page is for informational and/or educational purposes only and it is not intended to provide tax, legal or investment advice. It should therefore not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security or any issuer by WL & his LSV or its Noah denkt™ Project. In fact, WL & his LSV encourage the user to understand that he alone is responsible for determining whether any investment, security or strategy is appropriate or suitable for him. And to leave no doubt as to what this means we urge our user to also note our extended Legal Notice. |
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