The Pershing Square founder’s Ira Sohn conference presentation on “how to save the ratings agencies (and the capital markets).”
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Mr Buffet, do you think that the government should require a ratings agency rating on bonds?
“we dont rely on ratings agency at Berkshire”
“we actually hope that they mis-rate the bonds”
This proposal is so beautiful in its simplicity, it brought tears to my eyes.
incentivize is not an actual word. it is the most over-used word that isn’t a word. the only thing more annoying is when people say “really?” with that sarcastic tone
@3 O RLY?
That’s a pretty compelling proposal considering it came from such a nutjob.
@5 Einhorn proposes the nuclear option (but maybe he’s just talking his book).
Al Franken is working on a plan. He wants to have some federal agency dole out the ratings business on structured products.
The Franken Plan sounds like it was dreamed up by a comedian….
You guys. I’ve got it. I called you all here for one reason.
One word: Target.
You can get all your stuff IN ONE STORE! And it’s not trashy like Walmart!
I would love a federal agency to rate bonds, we could then see how much they suck thousands of times over, it would be the butt of so many jokes, endless humor