to below china below us strelley a below switzerland so america won't do anything to break up the cartel to break up the racket and there is a racket between the rating agencies the investment banks the fund managers and wall street and they won't do anything to break up this rocket the financial reform bill does nothing to break up the racket so china is going to break up the racket they're going to bring in their own rating agency what they have brought it and it's now announced this first thing in day gong chairman jong said that the western lead rating agency is to blame for the global crisis and europe's debt woes and this emerged in all the testimony all the evidence emerging through that entire disaster is that the rating agencies were very central to it and one of the problems that the chinese officials have with the western rating agencies is that china's debt is rated lower than many other countries and thus causing their borrowing costs to increase and yet the u.s. has the lowest. borrowing costs in the world mostly because of china's large cash surplus which they used to buy