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  • The Rating Agency Scapegoat Cycle [View article]
    Honest? Moody's? Ummm, ok.


    On Apr 23 01:51 PM debtacid wrote:

    > A great example of how honest players are ruthlessly excluded from
    > the machine.
    Apr 23 22:34 pm |Rating: +1 -1 |Link to Comment
  • The Rating Agency Scapegoat Cycle [View article]
    "Stop picking on Barney Frank. He's not the villain here. "

    Not the villain, but certainly a villain lackey. Chairman of a banking committee, but misses the biggest turn in banking history. Avoids regulation of the dual mortgage monsters and is now in the process of expanding their mandate (so much for shrinking them as was the original intention of their administration).

    The rating agencies have been blamed in "blessing" AAA transactions that their due diligence was limited to cashing a check. Now the govvie uses them as a criteria for eligibility into all federal programs. Part of their model inputs for the Maiden's too!
    Apr 23 22:33 pm |Rating: +4 0 |Link to Comment
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