Taking Credit

I read an insightful article on credit rating agencies and the ire raised against them by citizens -- Thinking Beyond Triple-A.  As an instance, the recent downgrade of Greece created a panic in Europe.  In the US, citizens blame the CRA for the housing bubble that subsequently developed.  In India, the credit rating system is more or less new, though it certainly had been operating behind the scenes many years previously.  With credit being more easy to obtain over the past decade, analysing and overhauling the credit rating system in India is imperative.