Reclined

Rating Agencies Target Guarantors to Deflect Subprime Blame

Tom,
You have a point regarding the short-sightedness of the agencies' evaluation game. Unfortunately being right here does not help MBIA/ABK since they have too much leverage to gain back credibility in these confusing times. As always in the short term it does not matter whether you will be able to pay and survive but only whether people believe you'll be able to. Might be a big difference!

I wish I had the ability to correctly analyse today's exposure of financial players. I believe I would become exceedingly rich :-)