Inspired by Afinkawan I've dug out an old unused NJ sketch which might still be topical enough for "Live from Kirrin Island"
RATING THE AGENCIES
ANCHOR:
Grease is the word, sang Frankie Valli. If the word is "bankrupt" then he was close, as credit rating agencies have downgraded the Greek economy yet again. And with Spanish banks also on the slide, how long can the UK retain its triple A rating, and with it our prime place in the economic Yellow Pages? Amid concerns that rating agencies wield too much power, the Government is planning a fightback. I'm joined by Treasury spokeswoman Hilary Policy-Wonk. Hilary, what's the Government's thinking?
HILARY:
Our central question is, just who are these agencies?
ANCHOR:
Well, the big three are Standard and Poor's, Moody's and Fitch. They're all American-based and they assess the creditworthiness of businesses and national economies.
HILARY:
(TAKEN ABACK BUT CARRIES ON REGARDLESS)
Nobody knows who they are. That's why we're fighting back alongside our European partners and the USB.
ANCHOR:
Don't you mean the USA?
HILARY:
Yes, but they've been downgraded to USB. It causes confusion with our computer nerds but only 14 more downgrades and they'll have a unique selling point!
ANCHOR:
I gather your approach is for countries to join together and rate the ratings agencies.
HILARY:
That's right. We've already downgraded Standard and Poor's to Sub-standard and Not-very-good-at-all (BEAT) 's.
ANCHOR:
I see. And Moody's?
HILARY:
A very negative outlook I'm afraid. Moody's is at risk of becoming permanently bad-tempered and in an awful strop, like how you feel after reading Andrew Lansley's health reforms. It's not all bad news for the agencies though. Take Fitch - we've upgraded their F to a B.
ANCHOR:
So they're now Bitch? That seems rather childish.
HILARY:
Well, you should have seen what they were planning for our bankers. The simple truth is that we can't allow these unaccountable faceless machines to make decisions that could put the very foundations of our economy at risk!
ANCHOR:
Because that's the job of the Government?
HILARY:
Precisely!
END.