After Watching 60 Minutes, Fitch Takes Hatchet to Alt-A Mortgages [View article]
I'm flabbergasted that organizations such as Fitch would even choose to make any public statements about anything ever again. They and their counterparts ought to be disbanded forever thus opening the door to others attempts at a crack at establishing a ratings agency. Fitch has no credibility at all. This isn't about hindsight. Who in their right mind would apply a AAA rating on any ALT-A mortgage? Who did they think apply for ALT-A mortgages? How did they think these same people would fare when interest rates rose? Maybe we should be asking whether they thought interest rates would ever rise again? My question is when are we going to see large scale investigations into all of the ratings agencies. Its clear this was a rubber stamp operation for a fee. I want to know who is going lead the charge in bankrupting these idiots for incompetency, and fraud for a fee.
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I'm flabbergasted that organizations such as Fitch would even choose to make any public statements about anything ever again. They and their counterparts ought to be disbanded forever thus opening the door to others attempts at a crack at establishing a ratings agency. Fitch has no credibility at all.
Dec 16 17:03 pm
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All Comments by k9s-4-k8 »After Watching 60 Minutes, Fitch Takes Hatchet to Alt-A Mortgages [View article]
This isn't about hindsight. Who in their right mind would apply a AAA rating on any ALT-A mortgage? Who did they think apply for ALT-A mortgages? How did they think these same people would fare when interest rates rose? Maybe we should be asking whether they thought interest rates would ever rise again?
My question is when are we going to see large scale investigations into all of the ratings agencies. Its clear this was a rubber stamp operation for a fee. I want to know who is going lead the charge in bankrupting these idiots for incompetency, and fraud for a fee.