tblakeslee

Did Lack of Regulation Create the Subprime Mortgage Crisis?

The big mistake that made this all possible is the concept of collecting loans together and selling them as AAA paper. This was made possible by the ratings agencies. Moodys, S&P, etc. They failed in their job to see the risk that is obvious in hindsight. They continue to function yet they have ruined the workd financial system with their incompetence. Where is the justice?