Credit ratings are already crowdsourced by the stock market. This article is actually talking about crowdsourcing credit rating _models_, which is actually quite different and may be a good idea. I don't buy all the hype in the article though..

>Even while Moody’s gave Lehman a clean bill of health, the alternative model showed the company was basically DOA. Andersen: The Lehman score was the lowest score we’ve ever seen.

In fact, I can't stand this type of backtesting analysis on credit risk. The reason that the model works and gives a low rating score is likely that it places a high value on the factors that caused the current recession, factors that are not likely to be the cause of the next major correction.

The real genius credit rating models are the ones that are predictive, rather than reactionary