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How Moody's sold its ratings -- and sold out investors
As the housing market collapsed in late 2007, Moody's Investors Service, whose investment ratings were widely trusted, responded by purging analysts and executives who warned of trouble and promoting those who helped Wall Street plunge the country into its worst financial crisis since the Great Depression.
A McClatchy investigation has found that Moody's punished executives who questioned wh More..
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Added: Oct 18 2009 In: news_politics
By: TalkingMonkey
- Views: 813 |
- Votes: 0 |
- Recommendations: 1 |
- Comments: 2
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Can't trust any credit rating agencies. They are in bed with those they are supposed to be objectively evaluating.
Posted Oct-18-2009 by "SouthParkIndie" (R)
So they knew what they were doing. They knew they were ******* everything up and they knew it was no skin off their back because we'd end up paying the bill for them.
These pieces of shit should be killed.
Posted Oct-18-2009 by "BigDaddyHarrison" (R)