On Apr 29, 2010, at 11:39 AM, Stephen Russell wrote:
> Ed that act of reading the fine print has always been there. I know
> some brokers who will recommend stocks and be well compensated for
> that knowledge. Do I accept their belief in potential as AAA ? If
> they are wrong all that is said is better luck next time, and I think
> that ..... is going to do better and we should get in.
Up until recently, the rating agencies were independent of the issuing
agency. They had no motivation to rate something higher than it should be, and
every reason to be as accurate as possible.
The fraud occurred when issuers were allowed to rate their own
products. No one outside of the companies themselves knew about this. There was
no "fine print" to read.
-- Ed Leafe
_______________________________________________
Post Messages to: [email protected]
Subscription Maintenance: http://leafe.com/mailman/listinfo/profox
OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech
Searchable Archive: http://leafe.com/archives/search/profox
This message:
http://leafe.com/archives/byMID/profox/[email protected]
** All postings, unless explicitly stated otherwise, are the opinions of the
author, and do not constitute legal or medical advice. This statement is added
to the messages for those lawyers who are too stupid to see the obvious.
