Occupy the SEC The Last Mystery of the Financial Crisis | Politics News | Rolling Stone www.rollingstone.com It's long been suspected that ratings agencies like Moody's and Standard Poor's helped trigger the meltdown. A new trove of embarrassing documents shows how they did it Share
Occupy the SEC Posted yesterday. Another Taibbi great. Plenty of blame to go around. Try throwing SIV and SPE into conversation at your next party. Folks will think you know a thing or two. Unlike · · 2 minutes ago · You like this. Options Eowyn Kay via Seniors for a Democratic Society And we wonder what's wrong with capitalism??? Really? From the raters themselves: ~"Lord help our fucking scam...this has to be the stupidest place I have worked at," writes one Standard & Poor's executive. ~"As you know, I had difficulties explaining 'HOW' we got to those numbers since there is no science behind it," confesses a high-ranking S&P analyst. ~"If we are just going to make it up in order to rate deals, then quants [quantitative analysts] are of precious little value," complains another senior S&P man. ~"Let's hope we are all wealthy and retired by the time this house of cards falters," ruminates one more _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
