S&P's CRE Ratings Round Trip: Agency Now Deserving of Credibility Downgrade [View article]
Perhaps our situation is so fragile that the rating agencies and other supposedly watchdogs would rather trash their own reputation than deal with the consequences of coming clean.
Reminds me of Congress strong-arming FASB to allow banks to value their "assets" as they see fit. www.ritholtz.com/blog/.../
I suspect they are counting on their slight of hand not being found out, or if it gets out to be spun by their lapdog media.
S&P's CRE Ratings Round Trip: Agency Now Deserving of Credibility Downgrade [View article]
Reminds me of Congress strong-arming FASB to allow banks to value their "assets" as they see fit.
www.ritholtz.com/blog/.../
I suspect they are counting on their slight of hand not being found out, or if it gets out to be spun by their lapdog media.
TD, your persistance is appreciated.