Ratings agencies: regulate or downgrade?

Questions over the long-term credit worthiness of the world's economic superpowers have been front-page news in recent months. For the first time in decades, the prospect of the likes of the United States and the United Kingdom losing their AAA sovereign debt ratings is being entertained. Lacklustre economic growth (in some cases still declining), massive increases in public debt to finance various efforts to stimulate the economy and shifting demographics are weighing heavily on the state and e