Castrese Tipaldi

Ambac, MBIA: Moody's strikes again

What is really disturbing of the current financial crisis is the substantial impunity surrounding the main culprits.

Apart from politics (they are irresponsibles by definition), you can confidently put the blame of the current financial chaos on inept, greedy and corrupt banks managers, and the rating agencies.

As penalty the first ones got liquidations that ordinary people should work for centuries to get, while the second ones keep on belching their useless and harmful analysis, adding fuel to the fire they roused.

I’d strongly urge Paulson et al to insert a few lines in the bailout package they’re working on, to put an end on their unbearable legal monopoly to utter financial nonsense; they are one of the main source of market instability.

Look at the Lehman rating when it collapsed!