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Moody's And S&p Sold Ratings

Dago 3.0

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"Lord help our [expletive] 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 card falters," ruminates one more.

gotta love it. get caught with some weed, go to prison. get caught committing fraud that leads to the economy collapsing and millions of people losing their life savings, jobs, and homes and nothing happens other than the company itself being fined.

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and in other news, this administration is kind enough to warn corporate America that the gravy train it has enjoyed at the expense of middle America is about to end. Nice of them to create an environment where those that caused the crisis could enjoy their greatest 5 year financial gain in history and then give them a heads up when it was over


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