Software bugs

ZDNet reports that the credit rating agency Moody’s incorrect rated a risky investment as having its top rating as an investment:

Computerworld UK quotes Ralph Silva, senior analyst at financial services advisory firm Tower Group, regarding rating agencies’ lackadaisical attitude toward technology management:

Ratings agencies never put sufficient emphasis on their technology resources,” he said. In spite of technology playing a key part in ratings decisions, “they simply haven’t felt getting technology right was important enough to business processes, unlike banks”.

Popularity: 41% [?]

This entry was posted on Wednesday, June 4th, 2008 at 12:22 am and is filed under Bug consequences.