Moody's Spanish Senior Vice President

Today Carlos Winzer was in ICADE speaking about the agency ratings. It is a very good opportunity to know what he thinks about credit crunch: they are guilty or victim?

Moody's said rating AAA only said that there is no possibility of default (ok, only 0.4%) , but this is true...or not?:

- Lehman Brothers Institutional Funds Government Portfolio -- Aaa
- Lehman Brothers Prime MMF - Aaa
- Lehman Brothers Sterling Liquidity Fund -- Aaa
- Lehman Brothers Institutional Liquidity Funds Prime - Aaa
- Lehman Brothers National Municipal Money Fund - Aaa
- Lehman Brothers Tax Free Money Fund - Aaa
- Lehman Brothers Prime Reserve Fund -- Aaa
- Lehman Brothers Euro Liquidity Fund -- Aaa
- Lehman Brothers US Dollar Liquidity Fund --Aaa
- Lehman Brothers Institutional Liquidity Funds Treasury - Aaa

Another question is about the possibility to spread the business of agencies rating: Right now they are a Oligopoly with a huge power able to create the opinion in one day that a country have to file for the bankruptcy . In US and Europe there are antitrust laws so it's not a remote possibility that the government obligates to split the rating agencies