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Reply #13: If You Were Standing in Front of Me, I Would Kiss You Full on The Lips [View All]

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Home » Discuss » General Discussion: Presidency Donate to DU
Yavin4 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-22-10 02:55 PM
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13. If You Were Standing in Front of Me, I Would Kiss You Full on The Lips
Tremendous. Tremendous post. Thank you very, very, very, very much for that.

The fucking ratings agecenies held the keys to this entire debacle. Without them handing out AAA like candy at Halloween, none of these collapses would have happened.

You know how conservatives love to speculate that it was Barney Frank and the CRA giving out bad loans to unworthy borrowers (read African Americans) which caused the collapse. Just ask them then why would the ratings agencies issue AAA ratings on these ABS. What government regulation made them do that?
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