How Can We Change the Way the Credit-Rating System Works

question 32

Essay

How can we change the way the credit-rating system works to avoid the problems encountered with ratings prior to the 2007-2009 financial crisis?

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Definitions:

Commercial Facilities

Premises or buildings used for commercial activities, such as retail stores, offices, or warehouses.

Private Nuisance

The use of property in such a way that it foreseeably interferes with a neighbour’s enjoyment of her property

Land Titles Office

A government office that registers legal documents relating to the ownership and boundaries of property, ensuring legal ownership.

Fee Simple

A type of freehold ownership where the owner has the most extensive property rights allowed by law.