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Reply #5: Moody's = Useless [View All]

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orwell Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 01:24 PM
Response to Original message
5. Moody's = Useless
All of these ratings agencies basically just phone it in.

Everyone can absolve themselves of due diligence by claiming that someone else has done the work.

AAA - AA AA+ BBB are all meaningless in a house of cards...
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  -Ratings Firms Misread Signs of Greek Woes alp227  Nov-30-11 11:22 AM   #0 
  - Maybe they could bundle Italy's and Greeces' government  russspeakeasy   Nov-30-11 12:10 PM   #1 
  - for all their big-money high power brains, its funny how  Blue_Tires   Nov-30-11 12:14 PM   #2 
  - These people seem to be utterly incompetent at their designated function  alcibiades_mystery   Nov-30-11 01:03 PM   #3 
  - Their function is to support bond underwriters and salesmen. Not incompetent,  leveymg   Nov-30-11 01:22 PM   #4 
  - Moody's = Useless  orwell   Nov-30-11 01:24 PM   #5 

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