According to French President Nicolas Sarkozy, last weekend’s G20 summit was a big success. “Never before have Anglo-Saxons agreed to subject credit ratings agencies to oversight and regulation,” he declared.
You know what, he’s right. Check out the ‘Historia Ecclesiastica gentis Anglorum’, the 8th century AD masterpiece by the Venerable Bede. This greatest of all Anglo-Saxon chroniclers had nothing to say about credit ratings agencies, and not just because he wrote in Latin.