The Last Mystery of the Financial Crisis
Jun 20, 2013 04:55:08 #
http://www.rollingstone.com/politics/news/the-last-mystery-of-the-financial-crisis-20130619
It's long been suspected that ratings agencies like Moody's and Standard & Poor's helped trigger the meltdown. A new trove of embarrassing documents shows how they did it
It's long been suspected that ratings agencies like Moody's and Standard & Poor's helped trigger the meltdown. A new trove of embarrassing documents shows how they did it
Jun 20, 2013 09:07:06 #
Jun 20, 2013 10:11:15 #
mmccarty12
Loc: Zionsville, Indiana
OPP Newsletter wrote:
http://www.rollingstone.com/politics/news/the-last-mystery-of-the-financial-crisis-20130619
It's long been suspected that ratings agencies like Moody's and Standard & Poor's helped trigger the meltdown. A new trove of embarrassing documents shows how they did it
It's long been suspected that ratings agencies like Moody's and Standard & Poor's helped trigger the meltdown. A new trove of embarrassing documents shows how they did it
What is more frightening, IMO, is that those companies are still in business and people still rely on them for investment advice.
I believe this quote says it all:
"But we know now that it was no accident. What happened to the ratings agencies during the financial crisis, and what is likely still happening within their walls, is a phenomenon as old as business itself. Given a choice between money and integrity, they took the money. Which wouldn't be quite so bad if they weren't in the integrity business."
http://www.rollingstone.com/politics/news/the-last-mystery-of-the-financial-crisis-20130619
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