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Comment (What's the most powerful brand name in the world? Ask 50 of your closest friends and you may get nearly as many different answers. Maybe it's Coca-Cola or Microsoft or Wal-Mart. Toyota, Apple and Google are contenders. China Mobile now ranks in the top 10, according to one study (it put the BlackBerry at No. 51).
But ask a group of financial nerds the same question, and there will be no dispute. The markets' most powerful brand is a letter (well, three letters): “AAA.” Or at least it was, until the rating agencies – Standard & Poor's, Moody's and others – debased it by handing it out the way parade clowns throw bonbons at little children.
The market tells us the credit crisis is easing. That doesn't mean it's over. Until now, regulators and politicians have been too busy trying to keep banks from toppling. At some point, though, when Wall Street is calmer, they'll turn their eyes to reform. Near the top of their list should be to bust u...
