Friday, April 23, 2010

Credit Ratings Sold For A Buck Or Two..

The buck or two is such an understatement.

Posted on Calculated Risk

From Kevin G. Hall and Chris Adams at McClatchy Newspapers: Senate panel: Ratings agencies rolled over for Wall Street
  • A Senate panel investigating the causes of the nation's financial crisis on Thursday unveiled evidence that credit-ratings agencies knowingly gave inflated ratings to complex deals backed by shaky U.S. mortgages because of the fees they earned for giving such investment-grade ratings.

Yeah... What Wall Street Crisis Are We Even Talking About?

at

1 comment:

  1. Gamelion7:18 PM

    King Solomon, circa 850–900 BC, the wisest and wealthiest man of his age, wrote in Ecclesiastes 10:19, “A feast is made for laughter, wine will make you merry, but money answers all things!”

    Yes it is all about the money, folks!

    ReplyDelete