One of the key advantages of Charlotte and other metropolitan centers in North Carolina has been the ability to attract and retain educated workers: Among adults aged 25 or older, 31 percent in metro centers hold at least a bachelor’s degree, versus 17 percent in rural areas (U.S. Census Bureau, 2006).
Only a sufficiently transparent rating process that represents negative incentive effects for rating agencies will enable the investors to make informed judgements about the product characteristics as well as the quality of the rating process itself. It should be mentioned in this context that initiatives led by IOSCO, the international organisation of securities supervisors, point in the right direction.