lies damn lies and AAA ratings

  • News

    S&P Will Not Stop Giving Out Good Bond Ratings In Exchange For Cash Just Because The Government Sued It For Doing So

    Standard & Poor’s, as you may have heard, is fighting a federal lawsuit with a potentially 10-figure pricetag that accuses it of making up whatever CDO ratings it had to in order to win business rating CDOs. Its defense against these charges are (a) no one should listen to them and (b) that no matter […]

    / Sep 18, 2013 at 3:16 PM
  • News

    Ackman: Rating Agencies Should Suffer

    You can’t go around rating “shitty deals” AAA and get away with it. I actually think it would be a good thing for rating agencies if they suffered some consequences for bad opinions.” “One of the problems is, when you have an institution who is allowed to write opinions that have enormous market impact, but […]

    / May 13, 2010 at 11:19 AM
  • News

    Oracle Cuts Back As Ratings Agencies Cut Back

    Warren Buffett’s a pretty moral guy, we think. He’s old, yes, and thinks that railroads are the future as we enter the year 1910. But he isn’t a cheating bastard. He just invests in them: to wit, his 13% stake in the lying, thieving Moody’s Corp., parent of the august Moody’s Investor Services, one of […]

    / Dec 23, 2009 at 1:13 PM

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