I'm not talking about derivatives, though. I'm talking about the securitzation of crap paper. I think Moody's and S&P are the real villains in this tale. They knew the paper was crap -- and they gave it top rating anyway so they could keep their Wall St. clients. Of all the bad behaviors that went down, this IMIHO was the most straightforwardly criminal. The failure to prosecute these guys is remarkable.
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timeasmymeasure
no subject
Date: 2010-09-16 08:05 pm (UTC)