• 17 Jul 2009 at 1:44 PM

S&P “Solution” Almost Worse Than Initial Problem

By Greg Michaels

Having been on the leading edge of AAA-rated financial destruction, S&P is now turning up the intensity and cleaning the mess it made by proposing “solutions” that will make a bad situation even worse. As has been well documented, one of the main problems for S&P and the other rating agencies was a near blind faith reliance on their internal models to make rating decisions and being simply overmatched by their Wall St. counterparts. To combat this, S&P recently indicated that it intends to introduce a revolving door philosophy and rotate analysts through different assignments. So S&P believes that rating integrity will improve by creating a legion of temporary analysts to opine on the credit quality of complex products that its dedicated analysts got dead wrong for years. Bogus AAAs are clearly here to stay.

Comments (19)

  1. 1
    Posted by guest | July 17, 2009 at 1:56 PM

    WHAAAA IM GREG MICHAELS WHAAAAAA IM A FAG WHAAAAAAAAA

  2. 2
    Posted by guest | July 17, 2009 at 2:00 PM

    This doesn’t make a difference because those paying for the rating want the highest rating. Otherwise, why waste their money?

  3. 3
    Posted by guest | July 17, 2009 at 2:22 PM

    WTF; I’ll never get those 30 seconds back.

  4. 4
    Posted by guest | July 17, 2009 at 2:31 PM

    @1 are you the blonde guy in this video?
    http://www.youtube.com/watch?v=vZapnlnt080

  5. 5
    Posted by guest | July 17, 2009 at 2:34 PM

    BLANUS!
    It had to be said.

  6. 6
    Posted by guest | July 17, 2009 at 2:34 PM

    Not sure if there are any DB statistics on this, but has any post here ever gotten zero comments?
    I’m think the next Greg post…you all know where I’m going with this. Like a 1960′s college sit in.

  7. 7
    Posted by guest | July 17, 2009 at 2:35 PM

    IIIIII
    1 1
    1 – – 1
    1 i 1
    1 0 1

  8. 8
    Posted by guest | July 17, 2009 at 2:39 PM

    @4
    Nerd.

  9. 9
    Posted by guest | July 17, 2009 at 2:42 PM

    DealBreaker “Solution” Almost Worse Than Initial Problem
    Having been on the leading edge of DealBreaker destruction, Bess is now turning up the intensity and cleaning the mess it made by proposing “solutions” that will make a bad situation even worse. As has been well documented, one of the main problems for Greg is a near blind faith reliance on his internal models to not include pictures with all of his posts, have them completely devoid of any humor, and being simply overmatched by Bess. To combat this, Bess recently indicated that she intends to introduce a revolving door philosophy and rotate writers through different assignments. So Bess believes that journalistic integrity will improve by creating a legion of temporary writers to opine on the quality of commentary that Greg has got dead wrong for weeks. Bogus writers (i.e. – Greg) are clearly here to stay.

  10. 10
    Posted by guest | July 17, 2009 at 2:42 PM

    please do not feed the blanus!

  11. 11
    Posted by NakedShort | July 17, 2009 at 2:43 PM

    Greg here is a tip to living up your posts. I guarantee this link will get more comments than anything resembling your writing
    http://i214.photobucket.com/albums/cc181/anchorbabes/apr2008/mandydrury1.jpg

  12. 12
    Posted by guest | July 17, 2009 at 2:47 PM

    @8, not a nerd, I was trying to find something that would hold 1′s attention long enough to keep him/her off dealbreaker for at least three minutes.
    I know it can’t be easy being a latchkey kid and all, but he/she needs to find a better way to spend the summer.

  13. 13
    Posted by HeadlessHorseman | July 17, 2009 at 2:56 PM

    @1 Your witty comment really put a smile on my face.
    @5 It really didn’t as it’s been said several hundred times before you and will continue to be said for at least another month (to everyone’s dismay)
    @7 Drawing with characters…that makes one thing you’re good at.
    @8 I bet he/she is really upset by that. Really scathing comment there, princess.

  14. 14
    Posted by guest | July 17, 2009 at 3:25 PM

    HumorlessHorseman

  15. 15
    Posted by guest | July 17, 2009 at 3:31 PM

    Hello, All, 1 here.
    Sarcasm. Kindly S my D.
    Sincerely Yours,
    1

  16. 16
    Posted by guest | July 17, 2009 at 3:50 PM

    HeadlessGreg.

  17. 17
    Posted by guest | July 17, 2009 at 4:05 PM

    FriendlessHorseman

  18. 18
    Posted by guest | July 18, 2009 at 11:16 AM

    S&P has been ‘rotating’ analysts through since 2004 or so when I worked at Lehman structruing ABS. It was a disaster then and it will be again…lots of jr-analyst types who didn’t get jobs at banks kow-towing to us to try to make the move to where the real $$$ was being made.
    Tragic.

  19. 19
    Posted by guest | July 18, 2009 at 2:23 PM

    Gregory “Thick-Headed” Michaels strikes again…
    Ignorance is bliss – seems like you REALLY believe that Gregory…

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