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Moody's Latest Blows Satire Models' Circuits

It would not surprise me to see legal action against Moody's. They knew about the mistake but failed to correct it. Some may have lost 90% of their investment. It just so happens that maintaining Aaa ratings was financially beneficial to Moody's. Smacks of constructive fraud, even if they weren't actually selling securities. A difficult case but ...

It would be outrageous if the marketplace allowed Moody's to continue doing business, at the very least. Outrageous.

Moody's Latest Blows Satire Models' Circuits

"Oops. We misplaced a couple of zeros. Real Estate may not only go up, evidently. We are downgrading Ottoman debt." People are going to get moody.